Startup consultancy firm Plexal has launched a £1.47m scaleup programme for London-based climate tech businesses in partnership with Shift.
The Future Industries Demonstrator Programme, partly funded by the government-backed UK Shared Prosperity Fund, aims to support 215 London startups that are developing technologies to tackle the climate crisis.
The programme will grant £25,000 to successful applicants to support scaling plans and test new technologies. Startups will also receive access to workspaces in the city and coaching from a network of participating business specialists.
Startups will be selected for their work relating to three successive “challenges” which would accelerate the UK’s net-zero capabilities.
The first challenge, titled Natural Cities, looks to technology to support the water, air, biodiversity, waste management and temperature monitoring of east London.
“By spotlighting challenges encountered by local communities, we hope to ensure that supported solutions possess genuine and significant potential to meet urgent challenges for east Londoners whilst accelerating the net-zero transition for the capital,” said Shift chief innovation officer Abdul Rahim.
Shift is a joint venture from private and public organisations based at Queen Elizabeth Olympic Park that aims to find and test innovative technologies responding to climate emergencies, health and wellbeing and mobility.
The second and third challenges will be announced and ready for applicants in 2024.
“As an innovation company and workspace for trailblazing founders, our mission at Plexal is to solve society’s challenges through collaboration with organisations,” said Andrew Roughan, CEO of Plexal.
“Therefore, we’re excited to be delivering this programme to discover and support sustainability startups committed to achieving net zero as part of our involvement.”