Applications open for net zero startups accelerator programme with £1.2million of funding available

Accelerator programmes present exciting opportunities for businesses in their infancy to receive funding, guidance, and development.

And the NZTC NetTechX Clean Energy Accelerator programme is no different. Now in its fifth year, the award winning course provides the 12 participating startups with a grant of up to £100,000 to propel them forward.

In addition, this year’s cohort will have access to potential further investment, field trial opportunities, and expert technology development guidance and mentorship from TechX’s global Strategic Partners – bp, Equinor and ADNOC.

The focus is on four core technology areas:

• Renewable energy technologies, green and blue hydrogen and other clean fuels
• Carbon Capture, Usage and Storage
• Digitalisation
• Oil and gas emissions reduction

The NZTC will also continue to champion gender diversity, by ensuring that 50% of the shortlisted businesses are led by female founders or co-founders.

Funding programmes like TechX are vital to net zero startups

The importance of programmes like TechX should not be underestimated. Almost half of the emissions savings needed by 2050 in order for us to reach our net zero emissions goal rely on technologies that are not yet even commercially available.

Supporting innovative, clean energy startups in getting their products to market is essential not only for consumers, but also for small businesses that are struggling to reduce carbon emissions, despite a clear and obvious desire to do so.

Since the programme launched in 2018, its alumni of 45 technology start-ups have gone on to raise £33m of additional equity funding.

Commenting on the programme, Mark Anderson, TechX Director said “I am delighted that applications for the next cohort of our award-winning programme are now open. This is an exciting and essential process to be undertaking; discovering the next round of trailblazing start-ups that can help us accelerate the future of clean and affordable energy.”

This is an exciting and essential process to be undertaking; discovering the next round of trailblazing start-ups that can help us accelerate the future of clean and affordable energy.

Previous alumni include Mocean Energy, a wave energy converter company that is setting the scene in the world of wave power devices. Unlike solar, wind, and tidal power, there are no commercially successful wave power devices today.

Since taking part in the programme back in 2019, the Edinburgh startup has gone on to secure more than £5.5 million in public funding, £612,000 in equity seed funding and £250,000 from Innovate UK.

Talking about his company’s participation in the TechX programme, Cameron McNatt, Managing Director of Mocean Energy said “TechX push you out of the nest – meeting potential customers and meeting potential partners. It’s taken me out of my comfort zone, out the door, meeting and talking to people a lot more!”

If it sounds like your startup fits the bill, you can apply here. Or to find out more about other funding opportunities, including business grants, visit our article on the top 5 business grants for women.