What are the origins of the Fund? BBSF was established in 1999 following a successful £3 million bid to the University Challenge Fund, a unique initiative between HM Government and major research organisations. It provides early stage finance to help scientists exploit the commercial potential of their discoveries. The BBSF's consortium organisations contributed a further £1 million. Although owned by the partners, BBSF is independent. When starting a business, scientists have the option but not the obligation to raise finance through BBSF and conversely BBSF does not receive any pressure from the organisations' technology transfer departments to invest in a given opportunity