The Carbon Trust has launched a scheme to help early stage low carbon businesses become attractive investment propositions.
The Entrepreneurs’ Fast Track has been launched to accelerate the growth of clean-tech companies and to help them commercialise their ideas.
Tom Delay, Chief Executive of the Carbon Trust said: “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.”
The service will provide a customised package of research and development funding and enhanced networking opportunities to leading clean tech ventures with the highest growth potential. Through this package, as well as advice on matters such as building management teams and protecting intellectual property, the Carbon Trust aims to help entrepreneurs turn their concepts into working prototypes.
The scheme has been welcomed by business leaders including Sir James Dyson, the Federation of Small Businesses and the business angel community.
Minister for Energy & Climate Change, Greg Barker, said: “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.”