Shell Springboard has opened for applications from UK businesses with bright solutions to reduce carbon emissions.
One national winner will receive £150,000 and a further five regional winners will each get £40,000 of equity-free funding from Shell, as well as advice from leading academics, investors and policymakers, to help scale-up their enterprises.
Winners will also get access to exclusive Shell events, exhibits and workshops designed to accelerate their business development journey. Previous winners participated in a Shell hosted Financial Times Executive Dinner Forum and Make the Future London – a festival of ideas and innovation that took place at Queen Elizabeth Olympic Park.
Since launching in 2005, the programme has awarded more than £3.5 million to 92 enterprises at the cutting edge of the low-carbon economy. Almost 80% of supported companies remain in operation five years after starting-up, in contrast to a national average of about 45%. The big ideas coming out of these businesses are not only helping to create a lower-carbon future – they are also supporting job creation and green growth.
Shell UK Country Chair, Sinead Lynch, said: “The UK has tremendous potential to lead low-carbon innovation. In fact, our research with Imperial College London shows that UK universities are some of the strongest globally in spinning out low-carbon start-ups. I am proud of the role that Shell Springboard plays in helping these start-ups to grow and in supporting the UK’s green economy. I look forward to what promises to be another inspiring year in low-carbon innovation!”
Shell Springboard has supported a wide range of some of the most exciting low-carbon UK business, including:
C-Capture (2016 winner) – clean energy technology that captures carbon dioxide (CO2) emissions from different industrial gas streams.
Deciwatt’s GravityLight (2015 winner) – technology to generate light from gravity, providing a safe alternative to kerosene lamps for off-grid communities.
bio-bean (2014 national finalist) – industrialised process to recycle waste coffee grounds into advanced biofuels.
Professor Chris Rayner, Founder of C-Capture, commented: “Winning Shell Springboard provided a huge morale boost to the C-Capture team. The award helped enhance our profile and credibility as we move through to full commercialisation of our technology.”
Applications are open until Friday, October 28, 2016, and the winners will be announced in Spring 2017. For more information and to apply, visit www.shellspringboard.org.