Intel to fund UK start-ups

Intel is arranging meetings with UK hi-tech start-ups with a view to financing them, writes VNU News-wire's Mike Magee.

The company is using the commercial department of the US embassy in London to arrange the meetings.

Intel is understood to be interested in financing and guiding up to 30 leading- edge UK IT companies, particularly those using the x.86 platform.

The move is the latest indication of renewed US interest in the UK's hi-tech sector. It follows Microsoft's decision earlier this year to invest $50m (#30m) in an IT research centre at Cambridge's Silicon Fen.

Howard High, communications manager at Intel in the US, said: 'Our general strategy is not to be a major but rather a minority investor. If a company has interesting technology - like, for example, Chips & Technologies - Intel will take a major stake.' Intel paid $420m for Chips & Technologies in July.

'We are interested in investing in technology that runs well on Intel-based PCs and which will ensure the Intel platform moves ahead.

'Our total investment portfolio this year, I believe, is $500m worldwide,' High told Computing.