EXHIBIT n



We consent to the  reference to our firm under the caption  "Experts" and to the
use of our report dated  February 25, 2003, in the  Registration  Statement Form
N-2, No.  333-________  and related  Prospectus of Renaissance  Capital Growth &
Income Fund III,  Inc. for the  registration  of 1,450,472  shares of its common
stock.

                                                   /s/ Ernst & Young LLP


Dallas, Texas
October 29, 2003