UK company to manage Enterprise Fund

Managers have been appointed to look after the new Enterprise Development Scheme - but should they have been from a Manx company?

 

SPARK Impact will run the 'accelerator and relocator' elements of the £50 million pot. 

 

The purpose of the fund is to 'nurture local talent' and 'create more jobs on Island' however the decision was made early on to out-source some of the money management. 

 

Economic Development Minister Laurence Skelly says there are companies on Island who could have done the job but SPARK Impact had the 'skills':