Entrepreneurs playing in the cleantech sector received a boost today as the Carbon Trust launches a new service to “turbo charge” and stimulate investment in early-stage companies in the sector.
The launch of the Carbon Trust Entrepreneurs Fast Track has been widely welcomed by business leaders including Sir James Dyson, the Federation of Small Business, the business angel community and the government.
“The Carbon Trust scheme supports the UK’s most promising low carbon technologies by moving quickly to commercialise new ideas,” explains Sir James Dyson.
Indeed, the principal aim of the Carbon Trust Entrepreneurs Fast Track is to help commercialise early stage cleantech companies, moving them from high-risk startups to attractive investment propositions.
“If given the right support, the UK will become a leading exporter of low carbon technology,” Sir James Dyson continues. “Inventive British companies that invest in R&D are seen as a risky proposition, but new technologies are vital to the long-term health of our economy.”
Specifically, the Carbon Trust Entrepreneurs Fast Track will provide a customised package of R&D funding, expert advice and enhanced networking opportunities to the top UK cleantech ventures with the highest growth potential.
It is hoped that faster commercialisation of Britain’s early stage cleantech companies will play a key role in creating new jobs across the UK, boosting export revenues and helping the UK move towards a low-carbon economy.
“Early-stage companies struggle to make the transition from concept to commercialisation owning to the high-risk nature of such ventures and the associated difficulty in attracting financing and managerial talent,” says Tom Delay, chief executive of the Carbon Trust. “The Entrepreneurs Fast Track aims to de-risk these ventures by advancing technology development and building a solid commercial foundation for growth.”
Entrepreneurs, startups or spinouts with innovative low carbon ideas or technology are encouraged to visit and register their interest with the Carbon Trust Fast Track.
“Now is the time to act: we need to match a growing awareness of our environmental impact with British ingenuity. Developing new technology takes time, and other countries have stepped up the pace,” Sir James Dyson adds.