03/07/2012

Greenius - Advance Notice of New £3 Million Contest for Green Innovation

Funded by the Government and delivered by the Technology Strategy Board, the Green Genius ‘Greenius’ Contest will operate as a national competition to drive forward the UK’s green growth agenda.

The initiative is designed to identify solutions to questions of food, water and energy security, such as how to keep bills down for consumers and businesses, how to better manage food and water resources and ensure a secure supply of clean, green and reliable energy.

Levels of funding per individual project that will be supported through the contest have yet to be confirmed, however, there is an overall budget of £3 million available.

The grants can be used to fund the further development and commercialisation of innovative technologies.

Successful projects will be those that:

• Develop technologies to secure long-term resource security.
• Are economically and environmentally affordable.
• Support improvements in the natural environment and wellbeing.

UK based entrepreneurs and early-stage businesses working on technologies and business models that will enhance food, water and energy security will be eligible.

Announcing the initiative, Deputy Prime Minister Nick Clegg said:

"When it comes to green innovation, Britain is a world leader. The ‘green’ sector is worth 8 per cent of UK GDP – the largest proportion of any of the leading industrial G20 nations – and employs almost 940,000 people - up 2.8% from last year. Sales in the green economy are also growing at a rate of 4.7%.

"Now we want the very best of Britain’s green talent to set their minds to some of the toughest challenges facing the country today – how to keep bills down for households and businesses and ensure we manage our food, water and energy supplies more sustainably."

Business Secretary Vince Cable added:

"Low carbon industries have a key role to play in building strong, sustainable and balanced growth. There is great potential for our world leading companies and engineers to be at the forefront of developing new technologies which can help combat some of the most pressing issues facing all of us. By helping to bring those ideas to market we can not only benefit our economy, but also the environment."

This is an Advance Notice report. Details and deadline information (if applicable) will be reported once the scheme goes live later in 2012.

Source: Department for Business, Innovation & Skills, 25/06/2012

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