Shell Springboard has opened its annual competition. How can you secure yourself a share of the £320,000 prize fund?

The Shell Springboard competition has opened for its sixth year, and is looking for entrepreneurs with big ideas for tackling climate change. Winners will receive up to £40,000 each, awarded to the companies with the most innovative low-carbon ideas. 

Since its launch in 2005, Shell Springboard has awarded £1.6m to 43 businesses, helping entrepreneurs to raise their profile in order to secure more investment.

James Smith, chairman of Shell UK, says: “Small businesses are a prolific reservoir of creative thinking on low-carbon technologies. Shell Springboard offers no-strings financial awards to help these businesses get their ideas off the ground.”

Specifically, Shell Springboard is looking for ideas which:

• will lead to greenhouse gas reductions;

• are commercially viable;

• are innovative.

For example, one of last year’s winners was Aeristech, a firm which developed a system that enables car manufacturers to downsize engines cutting emissions and cost without reducing performance. Since winning Shell Springboard in March, they’ve secured an additional £500,000 of investment.

“Winning Shell Springboard was a big help to our fundraising round,” explains Bryn Richards, founder and CEO of Aeristech. “It enhanced our brand and helped us build momentum. It was also an excellent opportunity for peer review of our technology and business model.”

The deadline for 2010 entries is November 5, you can find full details and an online application form at http://www.shellspringboard.org

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