Octopus launches accelerator for sustainable deep tech startups

Octopus accelerator Octopus Group CEO Simon Rogerson. Image credit: Octopus Group

Octopus Group has announced a new accelerator programme to support the growth of sustainable deep tech startups across the UK and Europe.

The Springboard programme from Octopus will focus on developing businesses that are combatting global issues such as climate change, resource scarcity and energy security.

In the accelerator, Octopus will look to include startups creating solutions that use robotics, quantum, photonics, AI and other deep tech areas.

“We believe entrepreneurs are society’s true agents of change. They have the power to solve the biggest problems facing our society and the planet,” said Simon Rogerson, co-founder and CEO of Octopus Group.

“But building a business capable of changing the world is laden with challenges. Securing funding is often highlighted as one of the largest hurdles, but in our experience of backing entrepreneurs, customer discovery and finding a market fit for their ideas rank equally high on the worry list.”

The Springboard programme will be a bi-annual three-month experience in which entrepreneurs will undertake mentorship, networking opportunities and business development training. The project has previously been run as an internal project for founders within Octopus.

Springboard will be run by the team behind Octopus Ventures, the VC arm of the company.

As one of the most active early-stage investors in the UK, Octopus Ventures has had a hand in the growth of a number of prominent British startups.

Firms that have been backed by Octopus through its investment vehicles include ecommerce brand Depop, online car retailer Cazoo and digital real estate market Zoopla.

Last month, Octopus Investments launched a £40m pre-seed deep tech fund and in 2022 bolstered its deep tech team.

Read more: UK must support deep tech in Silicon Valley goal, says Octopus Ventures manager