Friday, 8 February 2008

Government Agency does better Due Diligence than Investors- apparently!

So the "technical due diligence done by EEDA (East of England Development Agency) often exceeds that of investors"! According to the article on the Cambridge Network website this is because "EEDA pay for the Patent Office to carry out a patent search, and also send applications to at least two experts in organisations such as the National Physics Laboratory and National Engineering Laboratory".
I'm not sure if I'm more gobsmacked that the Development Agency that investors in their region do less DD than that, or that they put so much faith in the kind of reports they get from people like NPL and NEL to confirm the commercial potential of the innovations they see.