Shell opens applications for eco-friendly UK tech start-ups to win share of £330,000
Springboard funding programme re-launches for ninth year
Applications are now open for Shell’s annual Springboard programme with a share of £330,000 up for grabs for low carbon technology start-ups in search of financial backing.
Running for its ninth year, the programme intends to promote the development of “innovative” eco-friendly business ideas by providing “no strings attached” funding with the goal to uncover new ways to cut carbon emissions.
Entries are open to all UK-based small to medium-sized enterprises that have been running for at least three months who thinks they have the “next big business idea” in low carbon science and innovation.
The £330,000 prize money will be split between nine businesses who will join an alumni of 71 eco-friendly companies who have secured backing from Shell Springboard, with a total of £2.58m awarded so far.
Shell is looking to build upon its success stories with last year’s winner Vantage Power, a powertrain technology specialist, having gone on to secure additional funding and begun building a functioning prototype.
The competition follows recent research carried out by Shell Springboard in partnership with the Carbon Trust which found that low-carbon small and medium business were almost twice as likely to have export customers compared to start-ups in other industries.
Shell UK chairman, Edward Daniels, commented: “Since 2008, we have invested $2.2bn in developing alternative energies, carbon capture and storage and other CO2 related research & development.
“However, we also recognise that fledging business can help fast track solutions. Shell Springboard is a celebration of the huge creative potential that dynamic UK SMEs represent.”
Entries for Shell Springboard close on December 13, to apply click here.