Tech Nation, the growth platform for tech companies and leaders, today announces the new Net Zero growth programme. The programme is designed to support tech companies that are building a greener, cleaner, and more sustainable future, and helping the UK reach its goal of net zero greenhouse gas emissions by 2050.
The government-backed initiative is the first of its kind to contribute towards the UK achieving its net zero goals. The programme is supported by leading experts, investors, and founders. The judges selecting companies to join the programme include Hayden Wood, CEO, Bulb, Pippa Gawley, Founder and Director, Zero Carbon Capital, Mark Hodgson, Chief Business Officer, Cervest, Tom Adeyoola, NED, Verco, and Dr Ben Caldecott, Director of the Oxford Sustainable Finance Programme at the University of Oxford.
The Net Zero programme is open to any companies who help to reduce emissions directly or indirectly, with one of the key sub-sectors contributing to net zero being Cleantech. Companies operating in this high-growth sector range from converting footfall into off-grid power and data, delivering advanced solutions to reduce tailpipe emissions, and using nanotechnology to harness visible light into electrical energy.
Worldwide, Cleantech companies completed a record breaking 777 deals raising a total of £8.5bn in 2019. Tech Nation has identified 251 VC backed Cleantech companies in the UK and the sector is growing. In 2019, UK cleantech companies completed 76 deals, raising £264mn, a 26% rise on 2018. Bristol-based Ovo Energy has raised the most in the UK, raising £255mn in total.
The programme comes at a crucial time for the UK tech sector. The deployment of green technologies must be accelerated in order to achieve the 2050 net zero target, and Covid-19 has highlighted the role played by technology in aiding a green recovery in both the short and long term.
The 6-month Net Zero Growth Programme will be free to join, and the programme has been tailor-made to tackle the specific challenges of companies operating in this space. It will create a peer-to-peer network of companies on their scaleup journey, and sessions will be led by some of the UK’s most successful tech entrepreneurs.
Eoin Marsh, Entrepreneur Engagement Manager, London, Tech Nation comments: “It is really exciting to be opening applications for three of our sector programmes including our brand Net Zero initiative. London is at the cutting edge globally across all three sectors – FinTech, AI and Net Zero – so I’m very excited to learn more about the emerging companies and their technologies and to see first-hand the impact they have on the economy.”
Digital Minister, Caroline Dinenage said: “The UK is at the forefront of the cleantech revolution and we are committed to making sure the sector has the right conditions to grow and help us achieve our climate change goals.”
“I know how dynamic and effective our tech firms can be at tackling global challenges. So I encourage any entrepreneur with a vision for a greener world to apply and help to build a cleaner and more sustainable future.”
Gerard Grech, Chief Executive, Tech Nation, the growth platform for tech companies, comments: “Climate change should not be tackled by international governments alone. Technology and entrepreneurship have a huge role to play in dealing with such a global environmental issue. The green tech sector has grown substantially and is well-positioned to take on this challenge, making a significant difference to our future. We want to ensure UK tech companies have the tools to be able to drive and scale this innovation, helping the UK meet its net zero targets by 2050 or sooner.”