Businesses across the south west are set to benefit from a new fund that will provide loans of up to £100,000 for a period of three to five years to companies looking to develop low-carbon technologies.
A distinguishing feature of the so-called Cleantech Co-investment Fund is that it will only invest alongside private investors or small venture capital firms who have both knowledge of the sector and experience in making business investments.
The South West Regional Development Authority (RDA) has invested £2.5m into the fund, which it developed with South West Investment Group (Capital) Limited with support from the South West Angel and Investor Network (SWAIN) and Regen SW.
Characteristically, the clean-tech sector includes energy generation, transportation, storage, efficiency and infrastructure companies, but other business types may be eligible for the fund.
SWAIN will undertake the initial evaluation of businesses to ensure that they are attractive to investors and are ready for investment, while South West Investment Group (Capital) will administer the fund.
If you are a company looking for equity investment and you think you might qualify as a clean-tech company, then you can find out more about the qualifying criteria and the process involved by visiting the SWAIN website.