UK green entrepreneurs gather for chance to win US investor backing
Elaine Brass
20th November 2009
A range of UK companies active in the clean technology arena, including one that designs hydrogen vehicles, are competing for the chance to attended a week-long meeting with US investors in Silicon Valley next February.
Riversimple, a small UK-based business that has developed an urban two-seater car powered by hydrogen fuel cells, was among those companies that attended the launch event this week of the 'Clean And Cool Mission' at the London Stock Exchange. The programme is looking for the top 20 fastest-growing UK companies in clean technology and low carbon innovation to give them the opportunity to meet with venture capitalists, potential business partners and sustainable finance and policy experts in Silicon Valley, San Francisco in February, next year.
The competition is supported by the Government-backed Technology Strategy Board (TSB), the national entrepreneur campaign Enterprise UK, research company Polecat and the Volans think tank. In particular, the mission is looking for businesses that can demonstrate "true technical innovation" that can be applied to either low carbon energy, resource efficiency, demand reduction or carbon offsetting. Companies will need to have two years of trading history (although exceptions will be made for those who demonstrate fast-track potential).
Organisers of the programme said the launch was "a real success with a diverse group of companies" attending. As well as RiverSimple, they included Alertme, which has developed an energy home management system, Oxis Energy, which is behind a low-weight rechargeable battery, and small wind turbine technology company Quiet Revolution.
"Climate Change is one of the biggest challenges facing our society and therefore one of the biggest opportunities facing business," commented David Bott, director of Innovation Programmes for the TSB. "These are new challenges for our society and many of them will be met by companies that have not yet started, or who are just getting going."
The Clean and Cool Mission is part of what is being referred to as the ‘Cool Economy' – individuals, enterprises, investors, clusters, sectors and value webs contributing to the evolution of "low carbon, biodiversity-friendly value creation". The organisers said the pivotal role played by technology providers in creating low carbon solutions is becoming more widely recognised, both in the UK and in the US, particularly in Silicon Valley.