Innovation Funds
LCIC provides support for low carbon innovation through a variety of channels:
East of England Low Carbon Venture Capital Fund
In June 2009, UEA, through the Low Carbon Innovation Centre (LCIC), was provisionally appointed as Fund Operator for an exciting new investment fund in the East of England. This appointment, which follows UEA’s success in running the Carbon Connections programme has now been formalised and since the summer, the UEA team, led by LCIC’s Chief Executive Dr Chris Harrison, has been working hard with EEDA to obtain government approval for the Fund.
With approval in place, the next stage was to appoint a Fund Manager who will be responsible for raising private money for co-investment into innovative, regional SMEs alongside investments from the £8M pot from the European Regional Development Funds.
The fund will have a broad low-carbon remit and be capable of supporting a wide range of new and established companies in their low carbon activities and products through equity investments.
Anyone seeking investment for a venture is advised to keep monitoring EEDA and LCIC web pages for further information as it becomes available.
The Fund is expected to formally open for business in summer 2010. Businesses are kindly asked not to contact us yet. However, anyone interested in the Fund and wishing to keep up to date with developments, or who is interested in the work of LCIC more widely should check the LCIC website.
Carbon Connections innovation fund
Designed specifically to stimulate and support the transfer of knowledge from the university research sector into public and private sector organisations, the Carbon Connections fund supports innovative projects involving technology or services development, proof-of-concept, prototyping or testing. From August 2009, projects will typically be supported up to a maximum of £50,000 subject to agreement of terms.
The Carbon Connections fund is operated by LCIC in collaboration with Carbon Connections UK Limited.
Through our network of contacts in the sector and utilising our knowledge developed through our consultancy services and our knowledge of the research base, LCIC can accelerate the progress to market of your low carbon technology. Typically through a revenue sharing arrangement we will provide technology management and commercialisation services.
Metrics:
- 316 expressions of interest
- 107 full applications
- 26 funded projects
Project Categories:
- Microgeneration
- Waste management
- Biofuels
- Carbon sequestration
- Sustainable construction
- Engineering
- Domestic heating
- Chemical processes
- Combined heat process
- Manufacturing
- Adaptation
From February 2008, the projects underwent an extensive monitoring period. Please read individual project pages for updates. From March 2009, when the original life cycle completed, the Carbon Connections Innovation Fund became privately managed by LCIC and firmly retains its commitment to seek out, encourage and foster low carbon innovation.