Tender Summary

PS23216 - Legal Services for Innovate UK Loans - RFP

Buying Organisation

UK Research & Innovation (UKRI)

Contract Value

£500,000

Tender Description

The final date and time for the submission of bids is Tuesday 19th September 2023 at 11:00
DO NOT APPLY DIRECTLY TO BUYER
Introduction
Innovation loans aim to provide flexible and patient capital to support business growth through innovation. These loans are delivered through Innovate UK Loans Ltd (IUKL), a wholly owned subsidiary of UK Research and Innovation. The loans are awarded through open competition and are available to micro, small and medium-sized businesses and can be used to fund the costs of a research & development project. A lending decision is made based on the quality of the project as well as on the suitability of the applicant for a loan. Innovation loans align with the mission of Innovate UK to broaden the range of innovation finance support available to businesses, so they can access funding at all stages of innovation. The amount of funding available to a business is dependent on the agreed parameters of the innovation loan competition however, in the most recent competitions, loans of between 100,000 and 2,000,000 have been offered to successful applicants
IUKL portfolio is expanding year on year, we currently have over 200 companies on our portfolio. Due to the increase, there is the need to access specialist legal services to meet product demand. Research carried out shows on average within one year, it is estimated Innovate UK Loans may need to access legal services approximately 20+ times per year. In addition to accessing legal advice surrounding our portfolio, changes in the macro-economic climate have created the need to source legal guidance surrounding complex cases, in particular administration cases
Aim:
To procure legal services from a firm of lawyers that have the capacity to deal with complex financial cases due new products and services, portfolio expansion, and increase in administrations.
Objective:
To access legal services from a firm who can provide legal advice, in particular advice associated with finance and complex legal services. It is expected that the firm would provide dedicated resource to resolve legal matters in a timely fashion, with particular focus on complex issues such as loan agreements, new products and services and insolvency cases covering multiple jurisdictions with different laws.
How to Apply
UK Shared Business Services Ltd (UK SBS) will be using the Jaggaer eSourcing Portal for this procurement.
To register on the Jaggaer eSourcing portal please use the link https://beisgroup.ukp.app.jaggaer.com/ and follow the instructions to register as a supplier.
If you are already registered on the Jaggaer eSourcing Portal and wish to participate in this procurement, please use the link: https://beisgroup.ukp.app.jaggaer.com/.
Once you are logged into the system you will be able to locate the Procurement you wish to leave a bid on by clicking the ITTs Open to All Suppliers and searching for the reference number PS23216 or ITT_1057

Tender categories (products & services required)

Legal services (CPV 79100000)

Region

United Kingdom (UK)

Buyer Information