Capital for Enterprise Ltd (CfEl) is proposing to launch a £100m co-investment fund to leverage the potential of business angels as the most significant source of early stage capital in the sub £1m investment market. The fund will aim to act as a “big business angel”, sharing the risk with private investors and investing as a partner alongside angel networks and syndicates with a view to achieving £2 angel investment to match every £1 invested by the fund. The bid for funds is being made to the Regional Growth Fund and if successful the new co-investment fund will be managed by CfEl.

The latest fascinating major milestone in the global smart phone sales race is Nokia and Microsoft’s recent announced alliance. Nokia is having to respond to its fast declining market share where it has been losing ground to Android (open source) and Apple (consumer favourite). For reference Q4 2010 shipments by Operating system (OS) were Android 33%, Symbian 31%, Apple 16%, RIM 14%, Windows 3%, Others 3%. (Source Canalys).

It is telling that Nokia chose a non exclusive deal with Microsoft where it has to pay a licence fee to use the Windows OS in preference to Android’s OS which would be free.

Page 16 of 16