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Carbon Trust boosts start-ups support

UMIC on the hunt for clean tech talent as Carbon Trust boosts start-up support to fuel low carbon boom

 £1.75m business support for next generation of UK clean tech pioneers

 The Carbon Trust is expanding its business incubation scheme in response to a growing need for critical business support to spawn the next generation of commercial clean tech innovators in the UK.  UMIC has been named as a key part of the new established Incubator Network which will scout for possible new entrants to the scheme.

 Recent research from the Department for Business, Innovation and Skills¹ shows business leaders expect clean tech to be the UK’s highest growth sector in the coming years.  The Incubator scheme has a track record of preparing start-ups and spin-outs to attract all-important investment, with the 90 companies that have been incubated so far having raised around £86 million in private funding.

 Incubatee companies typically attract around £16 of private funding for every £1 spent on incubation services.  Companies that joined the scheme in 2008/09 alone have gone on to raise almost £19 million in private investment with the Carbon Trust's support.

 Dave Raval, head of the Carbon Trust incubation scheme, said:

“The UK has led the development of many low carbon technologies, but we must nurture and harness the UK’s spirit of innovation and ingenuity to generate the maximum economic benefit from the global clean tech revolution. You may have a great technology or service idea, but to make it fly and become a commercial reality, you need a strong business behind you and the know-how to attract investment.  The incubator scheme has a track record of turning clean tech innovations into high-growth businesses.”

 Tony Walker, Incubation Manager of UMIC, said:

 “UMIC are extremely pleased to be working with the Carbon Trust to broaden the reach of the Incubator scheme. UMIC has a world class reputation in biotechnology incubation, a growing strength in high technology incubation, and is celebrating its tenth anniversary this month. We are therefore very keen to be able to provide the business incubation scheme with new high quality prospects. This activity will significantly help UMIC in its efforts in supporting the growth opportunities of clean technology businesses”