Stephen Welton says that government schemes that offer generous tax relief to investors are helping to drive a start-up boom.
The Enterprise and Seed Enterprise Investment schemes offer a range of incentives, including capital gains and income tax relief, for those willing to back small and early stage ventures.
Under certain circumstances, such investors, known as business angels, effectively can buy half-price shares for taking a risk on a small company.
Sphere Fluidics, a life sciences company based in Cambridge, has benefited from the Enterprise Investment Scheme (EIS). The company’s technology is aimed at improving the discovery of drugs in the hope of leading to treatments for cancer and HIV.
Frank Craig, the chief executive of Sphere Fluidics, was one of three co-founders of the