basement funding

basement funding

A first round of funding obtained for developing a commercial product, which may be provided by venture capitalists.
References in periodicals archive ?
Britain's record as a world leader in research could not be maintained with 'bargain basement funding', said Ian Gibson, Labour chairman of the Science and Technology Select Committee.
Britain's record as a world leader in research could not be maintained with "bargain basement funding", said Ian Gibson, Labour chairman of the Science and Technology Select Committee.