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The DTI has launched a new initiative to allow large and small firms to benefit from each other's resources.
The Corporate Venturing website will allow employers to identify potential business partners.
The launch is backed by a £1.5m Government investment and hopes to enable:
- small firms to gain management experience from larger employers
- greater access to research and development
- bigger employers to benefit from an equity stake of intellectual property
Small business minister Nigel Griffiths said a similar scheme had been a big success in the US and presented an opportunity for large and small companies alike:
"Small businesses are able to tap into the expertise of their bigger counterparts and reap the benefits of established facilities, while large companies will be able to benefit from the well-known dynamism and risk-taking potential of the UK's small business sector.
"The Government has already provided tax relief through the Corporate Venturing Scheme for large firms to invest in smaller higher risk companies, so I am delighted to be able to formally launch this complementary initiative and demonstrate the DTI's support for Corporate Venturing UK," he said.
