July 27, 2010 - Anonymous
Clean technology start-ups can access free support to help them to turn their business ideas into commercial prototypes and attract investment, following the launch of the Carbon Trust Entrepreneurs Fast Track scheme.
The scheme is aimed at firms that can demonstrate outstanding future carbon-saving and high-growth potential. Small UK-based firms, university start-ups and corporate spin-outs are all eligible to apply.
It was developed after a consultation with 400 early-stage clean tech businesses revealed that “proof of concept” and prototype building testing were the two most valuable types of support needed for their ideas to become commercial. The consultation also highlighted the need for these firms to protect their Intellectual Property and access seed or venture capital finance.
“The UK has great entrepreneurial talent and many promising low-carbon ideas,” said Carbon Trust chief executive, Tom Delay. “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,” he added.
The scheme will provide firms with a dedicated relationship manager, who will provide them with customised support to test their prototype, develop their technology, help them win customers, access investment opportunities and grow their contacts. They may also receive grants and fundraising support from the Carbon Trust.
The initiative opens for applications in September 2010 but firms can register their interest now.