The Government awarded a £270,000 start-up grant this week to an initiative supporting exports in the rapidly-growing environmental technology sector.
The Export Services Company has been set up under the control of the Environmental Industries Commission, one of the sector’s largest trade associations.
The EIC approached the Department of Trade and Industry for seedcorn finance when a survey revealed that 36% of members saw market intelligence as their most pressing need, and 24% called for more co-ordination of export services.
Extra funds – accounting for 60% of that needed – will come from commission members. The cash will pay for electronic links to government agencies, in-the-field activities and three full-time staff. Adrian Wilkes, EIC director, said the company was ‘a small start, but a valuable one’.
The world’s environmental technology sector, already worth $400bn, is predicted to grow to $600bn by 2000.