East Kilbride-based SETIC on the hunt for clean tech talent as Carbon Trust boosts start up support to fuel low carbon boom

£1.75 business support for next generation of UK clean tech pioneers

The Carbon Trust is expanding its business incubation scheme in response to a growing need for critical business support to spawn the next generation of commercial clean tech innovators in the UK. Easr Kilbride-based, Sustainable Energy Technology ans Innovation Centre (SETIC) has been named as a key part of the new established Incubator Network which will scout for possible new entrants to the scheme.

The incubator scheme has a track record of preparing start-ups and spin-outs to attract all-important investment, with the 90 companies that have been incubated so far having raised around £86 million in private funding.

The Carbon Trust is on the look out for 25 new joiners to the scheme over the coming year with up to £70k of support on offer to each. This covers strategic and business development consultancy, advice on corporate finance, management team recruitment and mentoring, product development, market research and engagement and guidance on intellectual property protection.

Incubatee companies typically attract around £16 of private funding for every £1 spent on incubation services. Companies that joined the scheme in 2008/09 alone have gone on to raise almost £19 million in private investment with the Carbon Trust's support.

Dave Raval, head of the Crabon Trust incubation scheme, said:

"The UK has lead the development of many low carbon technologies, but we must nurture and harness the UK's spirit of innovation and ingenuity to generate the maximum economic benefit from the global clean tech revolution. You may have a great technology or service idea, but to make it fly and become a commercial reality, you need a strong business behind you and the know how to attract investment. The incubator scheme has had a track record of turning clean tech innovations into high growth businesses."

John Bambrough, Director of SETIC, said:

"The expansion of the Carbon Trust's Business Incubator Scheme offers Scottish companies an excellent opportunity for early developers of low carbon technologies access to expert support for the commercialisation of their products and services. The Carbon Trust Incubator Network has been set up to help find and support promising low carbon technology companies. The network includes SETIC via the Energy Technology Centre in East Kilbride. In the first instance please call us on 01355 593570."