| Committee/Panel: Economic and International Affairs Panel | |
| Launch Date: 17 December 2012 | Close Date: To be advised |
| Submissions Deadline: To be advised | Ministerial Response Date: To be advised |
| Review Status: Report published | |
About
The principle of the Jersey Innovation Fund is set out in P55/2012 Economic Growth and Diversification Strategy as approved by the States. The aim of the Fund is to support innovation and it will be available to support a wide range of activity from direct business support to strategic infrastructure investments, in the private, public and third sectors. Proposals will be required to improve the rate of innovation in Jersey and lead to significant employment creation.
Terms of reference
1.To undertake an examination of key elements of the proposals to create a Jersey Innovation Fund, including:
- eligibility criteria and how ‘innovation’ is defined for the purpose of the Fund
- the constitution and role of the ‘Innovation Board’, and the associated role of the Minister for Economic Development
- the appropriateness of increased risk in the investment of public funds, and how such risk will be managed
- the processes to manage the Fund’s income and its operational costs
2. To establish what work has been undertaken on plans to enable equity investment, and what work remains to be completed.
3.To examine how the Jersey Innovation Fund compares to similar initiatives in relevant jurisdictions.