Shell UK has launched a search to find the next big low carbon business innovation.
Funding the next big low carbon idea
The green economy accounts for one-third of the UK’s growth, encompasses 50,000 businesses and employs almost one million people.
Small enterprises looking for funding to aid the development of innovative, low-carbon business ideas can now apply for an award from Shell Springboard. Now in its eighth year, Shell Springboard offers businesses the chance to win up to £40,000 to help make their commercially viable ideas a reality.
The green economy accounts for one-third of the UK’s growth, encompasses 50,000 businesses and employs almost one million people. However, despite the amount of clean-tech business ideas bubbling away, many small enterprises have been struggling to find ways into mass commercialisation.
Since 2005, Shell has awarded over £2.25 million to 62 small businesses that have developed new ways of cutting carbon emissions. Last year’s winner, Select Innovations, was awarded £40,000 for its innovative EnLight technology, a product designed to help local authorities keep street lights on by reducing power consumption. At a time when many councils are considering turning off one in every 10 street lights to save money, EnLight delivers savings of up to 45 percent by improving the efficiency of street lights. If the eight million street lamps in the UK were all to use EnLight technology, this would save the UK one million tonnes of CO2 each year.
“At Shell, we pride ourselves on our commitment to championing great British low carbon innovation,” said Graham van’t Hoff, Chairman of Shell UK. “There are over five million small to medium sized businesses in the UK who are smart, quick and full of ideas, but finding financial support difficult to obtain. With low carbon enterprise rising up the agenda for the government and the media, it’s never been a more exciting time for businesses in this sector. If you have a commercially viable, innovative idea, I urge you to apply for the 2013 Shell Springboard Awards.”
Applicants must be based in the UK, be a SME by the European definition, and have been in business for at least three months.
To apply, visit www.shellspringboard.org before 5pm on Friday, 18 January 2013.
Cambridge Enterprise exists to help University of Cambridge inventors, innovators and entrepreneurs make their ideas and concepts more commercially successful for the benefit of society, the UK economy, the inventors and the University.