Shell Springboard Editor writes:
Yet the wider challenge is just as pressing. As the world’s population rapidly grows, the stress on energy, water and food supplies continues to increase – and the global energy system will need to become broader, more efficient, lower carbon and higher energy to meet this demand.
A collective and concerted effort is required if we are to achieve this shift, and small businesses represent a crucial part of the solution. Nimble and dynamic, the kind of low-carbon entrepreneurs that have wowed the Shell Springboard judges in the past decade are not just innovating in technology terms – they’re also driving a new wave of job creation and economic growth with their business ideas. Earlier this year, in collaboration with the Carbon Trust we took a closer look at the opportunities associated with the low-carbon economy, finding that the UK has a real opportunity to triple its exports of low-carbon goods and services.
Our world-leading universities and research institutions will be key to cementing the UK’s position as a global leader in providing solutions to the energy challenge, and programmes like Shell Springboard are crucial in converting world-class IP and know-how into flourishing businesses. It’s also vital that the pipeline of innovators is maintained, both by investing in STEM skills at school and university level and by equipping our finest scientific minds with the business nous to lead successful commercial ventures.
Our alumni are proof of this potential, and we’re extremely proud of what they’ve achieved. To give just two examples: Oxford University spin-out and transatlantic success story Cella Energy is continuing to attract investment and broker impressive partnerships with its hydrogen power technology, while London start-up bio-bean was recently awarded a further €500,000 of funding for its coffee waste to biofuel conversion process.
To celebrate 10 years of low-carbon innovation, we’re making some changes to Shell Springboard this time around. For the first time, the overall winner will receive £150,000 (up from £40,000 in previous years) to scale up their low-carbon innovation. Total awards of £350,000 will be available to six entrepreneurs in 2015.
This anniversary is a good time to take stock of how far the UK’s low-carbon economy has come and to reflect on the challenges ahead. It’s so important that our entrepreneurs continue to find creative ways to reduce carbon emissions while creating real economic value. We’re looking forward to seeing the great business ideas in this year’s programme.