Universities, Science and Cities Minister Greg Clark today (11 February 2015) announced the appointment of a new member, Vikas Shah, to the Industrial Development Advisory Board (IDAB).
IDAB provides advice to government on proposals to provide selective financial assistance to industry.
Greg Clark said:
I am pleased to welcome Vikas as a newly appointed member to the board. I know that his skills and experience will be highly valued.
I look forward to continuing to work with the board whose business expertise helps us to make sure that public investment in private sector projects has the best possible impact.
Notes to editors
The Industrial Development Advisory Board (IDAB) is a statutory body set up to advise ministers on their use of financing powers in the Industrial Development Act 1982. In practice, the board considers large applications from companies bidding into the Regional Growth Fund Scheme; it also advises on proposed new schemes. Its terms of reference are set out here
The appointment is part-time, unpaid and will run initially for 3 years from 1 February 2015.
Vikas Shah biography:
Vikas Shah is Managing Director of Swiscot Group, a Manchester based textiles and commodities trading firm, with operations worldwide. He is also Visiting Professor of Entrepreneurship with MIT Sloan on their European MBA programme. Vikas has built businesses in diverse sectors around the world for almost 20 years, and is also a consultant and advisor to numerous entrepreneurs and organisations globally. He is President of the North West region chapter of TiE (the world’s largest entrepreneurs network), and a respected speaker and commentator on entrepreneurship, business, and social issues. Vikas is an advisor to many civic and community groups, and is a trustee of Mustard Tree, Executive Patron of the Manchester Cancer Research Centre, and a member of the University of Manchester General Assembly.