Carbon Trust launches fast-track service for green startups

The Carbon Trust, having seen off rumours of its demise, has announced a service aimed at stimulating investment in UK green-tech businesses to take them from high-risk startups to attractive investment propositions.

The Entrepreneurs Fast Track will be looking to invest at least £5m a year in research and development grants, expert commercialisation advice and investor and business network opportunities, a spokesperson for the Trust told Businessgreen.com.

The initiative has been welcomed by business leaders, investors and, of course, small businesses which stand to benefit from the scheme.

“The UK will become a leading exporter of low-carbon technology – if given the right support,” said Sir James Dyson CBE. “Inventive British companies that invest in research and development are seen as a risky proposition. But this Carbon Trust scheme supports the UK’s most promising low-carbon technologies by moving quickly to commercialise new ideas.”

According to the Trust’s research among over 400 UK startups, proof of concept and prototype building and testing were ranked as the two most valuable types of support needed to move technologies towards commercialisation.

The scheme will also look to match entrepreneurs with venture capitalists through strategic partnerships which the Trust has with organisations like the British Business Angels Association, as well as Investor Forum events where companies can exhibit and pitch to the investor community.

“The Entrepreneurs Fast Track service will give a much-needed boost to innovative companies developing green technologies, said energy and climate change minister Greg Barker. “This will be vital in growing the UK’s low-carbon industry, creating new jobs and tackling climate change.”