Launch of the Energy Entrepreneurs Fund
DECC recently launched the 1st phase of the Energy Entrepreneurs Fund scheme which is a competitive funding scheme to support the development and demonstration of innovative, new technologies, products and processes in the areas of energy efficiency and building technologies and power generation and storage.
The scheme seeks the best ideas, irrespective of source, in these areas from the public and private sector. However, the scheme particularly aims to assist small and medium sized enterprises, including start-ups, and those companies that are selected can receive additional funding for incubation support.
This initial call is the first phase of the Entrepreneurs Fund. The second phase of the scheme building on the first phase is expected to be launched in early 2013 on an open call basis.
The first phase of the Energy Entrepreneurs Fund has up to £16m available for funding and during the application process applicants will be expected to demonstrate a robust evidence based case for funding that will include but not be limited to:
* the potential impact of the innovation on 2020 and/or 2050 low carbon targets or security of supply
* the size and nature of the business opportunity
* the technical viability of their innovation and coherent development plan that will commercially progress the innovation
* value for money proposition
The 1st phase of the scheme will close on 31 Oct 2012. During this period there will be two assessment deadlines.
For more information please go to:
http://www.decc.gov.uk/en/content/cms/funding/funding_ops/innovation/innov_fund/eefs/eefs.aspx
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