Entrepreneurs Fund aims to boost low-carbon innovation

The first phase of the Entrepreneurs Fund, part of a £35m fund announced earlier this year, is now open to applications. 

Up to £10m is available to support energy-efficiency technologies such as building control systems, advanced lighting systems, and space heating and cooling technologies. Up to £6m is available for power generation and energy storage technologies, including fuel cells, biomass boilers and heat pumps.

According to the Department of Energy and Climate Change (DECC), the aim of this funding is to speed up the development of low-carbon technologies towards commercialisation in order to help cut carbon, support jobs and create export opportunities.

A second phase of this scheme, building on the first phase, will be launched in early 2013 with the remaining £19m available.

The money is aimed at, but not limited to, SMEs, as well as individual innovators and entrepreneurs. 

Innovators will be able to bid for up to £1m to develop and demonstrate innovative technologies and processes, and get support from experts on how to bring their products to market. Entrepreneurs can then use the funding to leverage additional funds from private-sector investors.