The Greater Birmingham and Solihull Local Enterprise Partnership have launched a new pilot Low Carbon grant fund for businesses operating within the low carbon sector. The fund is designed to support businesses that have been working on the development of high-growth, low-carbon technologies that can be deployed in the region to support local, regional and national decarbonisation targets.
Businesses can apply for match funding for up to £35,000, which will go towards helping projects define their route to market and ultimately connect with sponsorship, investment and financing opportunities as they seek to commercialise and scale-up their technology solutions.
To qualify for funding, businesses must be an SME based in the Greater Birmingham & Solihull, Coventry & Warwickshire or Black Country LEP geography, and be operating in the low-carbon sector (the definition is included in the guidance documentation). In particular, projects are sought that take a consortia-led approach as the fund aims to foster the development of a local supply-side ecosystem of low-carbon technology businesses.
The scheme will support regional businesses as they search for partnerships and investment during the current challenging economic conditions. The low carbon sector will play a crucial role in driving the country’s green recovery and its longer-term green growth, making a positive impact on the environment whilst also delivering new jobs and growth. The existing sector in the West Midlands is already making a significant contribution to the economy, and this is forecast to dramatically increase.
Matthew Rhodes, Board Director for Stimulating Innovation at GBSLEP, said:
The Low Carbon Grant Pilot Fund is an important and timely new initiative to support the region’s businesses that are developing the low carbon and energy system solutions of the future. It’s a really good example of a scheme we’ve developed in partnership with businesses to help accelerate our transition to a net zero economy and kick start our green recovery.”
The Low Carbon Grant Pilot Fund follows the launch of GBSLEP’s Pivot & Prosper Fund which saw high levels of interest over the summer – the Pivot and Prosper helped businesses across GBSLEP’s key sectors develop innovative new approaches to adapt and improve their resilience in response to the impacts of the Covid-19 pandemic.
If you are a low-carbon SME and are interested in applying for the Low Carbon Grant Pilot Fund, click here.