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Access to finance tool launched for low carbon SMEs

Shell has launched a digital tool as part of its Springboard initiative to help low carbon start-ups access a range of different funding sources.

Shell has launched a new digital tool as part of its Springboard initiative to help low carbon start-ups access a range of different funding sources. 

The Access to Finance Navigator helps small and medium sized enterprises (SMEs) in the sustainability, clean tech and low carbon sectors to find new funding opportunities.

The digital database compiles 84 different sector-specific funding sources that represent a total of £157 million worth of investment. The sources include government funding, venture capital funds, angel investors and crowdfunding platforms. 

The interactive tool allows companies to tailor funding searches to their specific sector, stage in development and financial requirements. 

Vital foothold

It is part of the Shell Springboard initiative, which supports innovative SMEs with commercially-viable business ideas that can improve sustainability or reduce carbon emissions. 

Erik Bonino, chairman of Shell UK and executive vice president of downstream technology, said: “Shell Springboard provides low carbon entrepreneurs with a vital foothold on the funding ladder, but for many this is just the start of a journey to secure the finance they need.

“Finding people or organisations to support new businesses is complex and time consuming. To help navigate the funding landscape, we developed the Access to Finance Navigator with experts in finance and low carbon sectors.”

‘Funding is key’

Solveiga Pakštaitė, winner of the Shell LiveWIRE Smarter Future Award and the 2016 Shell Staff Inspiration Award for her pioneering bio-reactive food expiry label, BumpMark, added: “For a start-up business to get off the ground, funding is key.

“Understanding which funding sources are best for your business and navigating the huge range of funding resources available can take as much time as applying for the money itself.

“Shell Springboard’s Access to Finance Navigator is a great idea and will make it much easier for entrepreneurs in the sustainability and low carbon sectors to find the funds they need. It’s hugely valuable.”