Section one: Contracting authority
one.1) Name and addresses
United Kingdom Research and Innovation
Polaris House, North Star Avenue
Swindon
SN2 1FF
Contact
Liz Vincent
Telephone
+44 1793867000
Country
United Kingdom
Region code
UKK - South West (England)
Internet address(es)
Main address
one.2) Information about joint procurement
The contract is awarded by a central purchasing body
one.3) Communication
Additional information can be obtained from the above-mentioned address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Other activity
Research
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
GSS23209 - No Limits Investor Readiness Programme
Reference number
GSS23209
two.1.2) Main CPV code
- 73000000 - Research and development services and related consultancy services
two.1.3) Type of contract
Services
two.1.4) Short description
UKRI seeks to establish a tailored investor readiness programme that educates and prepares under-represented and overlooked founders/co-founders or key decision makers in raising and securing equity investment.
The central objective of the investment readiness programme is to help businesses understand and prepare for raising equity investment. The purpose of the programme is to level the playing field for diverse innovators, equipping them with the knowledge and understanding of what it takes to secure private investment. The programme will help companies to:
- Understand what private investment is and whether it is the best route for them.
- Understand what it takes and the process to navigate and secure private investment.
- Be equipped with the tools to sustainably navigate funding rounds
- Understand how their business will be perceived by external audiences and be equipped to negotiate with potential investors
There is extensive and growing evidence that underrepresented innovators/founders experience inequalities and barriers to be successful innovators and successfully grow their businesses, barriers include access to private investment. Some of these barriers and challenges can be specific to certain communities or groups.
two.1.5) Estimated total value
Value excluding VAT: £1,000,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 71620000 - Analysis services
- 72224000 - Project management consultancy services
- 73200000 - Research and development consultancy services
- 79410000 - Business and management consultancy services
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
Given that there are barriers and equity imbalance for underrepresented innovators, many have experienced numerous setbacks, rejections and have been overlooked, when securing private investment.
With Knows No Limits Investor Partnership Programme, UKRI want to increase the diversity of founders/co-founders and senior-decision effectively accessing capital where suitable to enable the businesses to grow, thrive and scale. Extensive research and evidence highlights the disparity diverse teams face, and the imperative need to decrease the gap prevalent in the investment landscape. For example, on average only 5% of pitchdecks reaching VCs are from all-female teams and 20% from mixed gender teams. The remaining 75% of pitchdecks are from founding teams with no women (British Business Bank Report).
The investment readiness programme aims to provide the help, resource and environment to bridge the gap for diverse founders needing private investment. The programme will provide a unique and tailored experience to get entrepreneurs investment ready. As a result the programme will help to create better outcomes for diverse founders ultimately helping to build their knowledge, capability and having the tools to prepare for the private investment journey.
The Investment Readiness Programme aims to create better outcomes for underrepresented innovators ultimately helping to build their knowledge and access the tools to secure private investment.
The Programme should be designed to address the common barriers to investment faced by underrepresented innovators including:
- Lack of education and awareness of different funding routes, and understanding of suitability for private investment
- Lack of understanding of market products and services that focus
- Lack of an inclusive and equitable environment e.g. disabled innovators reasonable adjustment needs
- Need to spend more time, energy and effort on overcoming additional challenges to fundraising, taking them away from other key challenges facing their companies.
- Lack of access to networks, and warm introductions.
This Prior Information Notice is being issued in order to undertake a market consultation exercise with regards to the current view of requirements detailed above. If you believe that this will be of interest to you and your organisation, please register your interest by sending an email to the following email address: coreservices@uksbs.co.uk
By registering and attending you will be engaging in non-competitive dialogue which will enable UKRI to develop and assess the market’s appetite, concerns, and views on formulation of its requirements. Please register by 22nd March 2023.
The estimated value excluding VAT is £500,000 - £1,000,000
We anticipate the new provision being a 12 month agreement with the option to extend for a further 7 months.
The supplier engagement days will be held online via Zoom on 28th March 2023, time to be confirmed.
The format of the Supplier Day will be confirmed in advance and an agenda of the day will be provided.
About the contracting Authority - UK Research and Innovation
Operating across the whole of the UK and with a combined budget of more than £6 billion, UK Research and Innovation represents the largest reform of the research and innovation funding landscape in the last 50 years.
As an independent non-departmental public body UK Research and Innovation brings together the seven Research Councils (AHRC, BBSRC, EPSRC, ESRC, MRC, NERC, STFC) plus Innovate UK and a new organisation, Research England.
UK Research and Innovation ensures the UK maintains its world-leading position in research and innovation. This is done by creating the best environment for research and innovation to flourish.
For more information, please visit: www.ukri.org
two.3) Estimated date of publication of contract notice
17 April 2023
Section four. Procedure
four.1) Description
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: No
Section six. Complementary information
six.3) Additional information
This Prior Information Notice is being issued in order to undertake a market consultation exercise with regards to the current view of requirements detailed above. If you believe that this will be of interest to you and your organisation, please register your interest by sending an email to the following email address: coreservices@uksbs.co.uk
By registering and attending you will be engaging in non-competitive dialogue which will enable UKRI to develop and assess the market’s appetite, concerns, and views on formulation of its requirements. Please register by 22nd March 2023.
The estimated value excluding VAT is £500,000 - £1,000,000
We anticipate the new provision being a 12 month agreement with the option to extend for a further 7 months.
The supplier engagement days will be held online via Zoom on 28th March 2023, time to be confirmed.
The format of the Supplier Day will be confirmed in advance and an agenda of the day will be provided.
About the contracting Authority - UK Research and Innovation
Operating across the whole of the UK and with a combined budget of more than £6 billion, UK Research and Innovation represents the largest reform of the research and innovation funding landscape in the last 50 years.
As an independent non-departmental public body UK Research and Innovation brings together the seven Research Councils (AHRC, BBSRC, EPSRC, ESRC, MRC, NERC, STFC) plus Innovate UK and a new organisation, Research England.
UK Research and Innovation ensures the UK maintains its world-leading position in research and innovation. This is done by creating the best environment for research and innovation to flourish.
For more information, please visit: www.ukri.org