London Announces Cleantech Incubator Project
London will be nurturing a group of 100 cleantech start-ups at a specific new business incubator, the city’s mayor, has announced.
The incubator, christened Better Futures, is a £1.6 million project which will be partly funded by the European Regional Development Fund and aims to encourage development of low carbon and cleantech products in the fight against climate change and its effects.
Mayor Sadiq Khan, who pledged to alleviate the UK capital’s well-known air pollution problems, said that he would like to see the small, London-based businesses included in the project come up with ways to reduce pollution, improve housing and prepare transport for the future. “New technologies and data science will be at the heart of the long-term solutions to urban challenges,” the mayor said in a statement.
The incubator will be providing the chosen businesses with support such as leadership and management support, use of co-working space and assistance in marketing, supply chains and product development. Some will also have the chance to receive assistance with research thanks to the Centre for Cleantech Innovation at Imperial College London, a partner organisation in the initiative.
The Better Futures project is an excellent initiative to help start-ups develop their product, but in order to take the next step and scale up for market, private finance from forward looking companies will be needed. This is where businesses like OPEN Cleantech come in.
We help companies with pioneering, market-ready technology and sustainable projects, providing the finance to market their products and also offer added support to enterprises with the potential to help reduce GHG emissions and those likely to develop new products.
This form of public support/private finance model is very promising in helping lead the world to a sustainable future.