The launch of Carbon Trust Entrepreneurs Fast Track, developed after consultation with Britain’s emerging low carbon technology companies, has been welcomed by business leaders, including Sir James Dyson, the Federation of Small Business, the business angel community and the UK Government.
The principal aim of Carbon Trust Entrepreneurs Fast Track is to accelerate the commercialisation of Britain’s best early stage clean tech companies, taking them from high risk start-ups to attractive investment propositions. The commercialisation of the country’s early stage companies in the low carbon sector is central to the creation of new jobs across the UK, boosting export revenues and helping the UK move to and prosper in the low-carbon economy.
Carbon Trust Entrepreneurs Fast Track has been developed after consultation with more than 400 early stage clean-tech companies from across the UK. According to this latest research ‘proof of concept’ and prototype building/testing were ranked by small companies as the two most valuable types of support needed to move towards technology commercialisation. This was followed by: the need for assistance in protecting knowledge by navigating the complex issue of intellectual property; and access to seed or venture capital finance.
“Low carbon investment is a vital part of our economic recovery. The Entrepreneurs Fast Track service will give a much needed boost to innovative companies developing green technologies. This will be vital in growing the UK’s low carbon industry, creating new jobs across the country and tackling climate change,” said the UK’s Minister for Energy & Climate Change, Greg Barker.
Sir James Dyson CBE, one of the UK’s leading inventors and one of the worlds’ most successful industrial designers in the past 20 years, has welcomed the Carbon Trust’s initiative: “The UK will become a leading exporter of low carbon technology – if given the right support. Inventive British companies that invest in research and development are seen as a risky proposition. But new technologies are vital to the long-term health of our economy,” he said, adding that: “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. This Carbon Trust scheme supports the UK’s most promising low carbon technologies by moving quickly to commercialise new ideas.”
Specifically Carbon Trust Entrepreneurs Fast Track will provide a customised package of research and development funding, expert advice and enhanced networking opportunities, to the leading UK clean tech ventures with the highest growth potential.
For the first time, the Carbon Trust will support low carbon entrepreneurs to turn their concepts into working prototypes. This will sit alongside support for technology development and demonstration, as well as strategic commercial and expert technical advice on matters such as identifying optimal business models, building capable management teams and protecting intellectual property.
“The UK has great entrepreneurial talent and many promising low carbon ideas. But early-stage companies struggle to make the transition from concept to commercialisation owing to the high-risk nature of such ventures, and the associated difficulty in attracting financing and managerial talent. The Entrepreneurs Fast Track aims to de-risk these ventures by advancing technology development and building a solid commercial foundation for growth,” explained Tom Delay, Chief Executive of the Carbon Trust.
A number of emerging clean-tech firms across the UK have already benefited from Carbon Trust support including Bath-based G-volution which has developed a lower cost lower emission dual fuel system for the commercial transport sector. Any entrepreneur, start-up or spin-out company with a genuinely innovative low carbon idea or technology should contact Carbon Trust or visit their website.
For additional information:
Carbon Trust Entrepreneurs Fast Track
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