Thousands of pounds are available from a venture capital fund keen to help gaming and app developers start up or grow their business in a sustainable way.
Investments from £10k are available from the Low Carbon Innovation Fund (LCIF), which is backed by the European Regional Development Fund and based at the University of East Anglia.
More than £43million has already been invested in small businesses, including software design company 99 Squared, which has used £55k of LCIF funding received earlier this year to develop Kuoob, a cloud-based advertising platform. The service is sold as a white label to magazines, shopping centre operators and other customers who can brand their own portal within the Kuoob template.
Pip Cartwright, co-founder of 99 Squared, was encouraged by how easy it was to apply for the funding and the support he was given by the team at LCIF throughout the process.
“It’s really tough to get financial backing from traditional sources these days and so the Low Carbon Innovation Fund provides a really valuable route to investment for anyone wanting to grow their business.
“What’s great is that businesses in our sector tend to be low carbon anyway so meeting the criteria for funding can be straightforward”, he said.
To find out more about the fund, or to submit an application, visit the LCIF website at www.lowcarbonfund.co.uk.
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Notes to editors:
Low Carbon Innovation Fund
LCIF is part of the University of East Anglia’s Adapt Low Carbon Group and is funded by the European Regional Development Fund (ERDF). It is managed by Turquoise International. The Fund runs until December 2015. It is a venture capital fund making equity investments alongside other investors or funds.
- Investments from £10k to £1m can be made in eligible small to medium sized businesses (SMEs) in the East of England
- LCIF is part of the governments’ Solutions for Business portfolio of business support products
- ERDF is a seven-year investment programme part financed by the European Union. Its objective is ‘towards low carbon economic growth’ in the East of England and approx. £80m (€110.9 million) has been allocated to the region. For more information on regeneration funding in the East of England click here.
For details, please visit www.lowcarbonfund.co.uk
Adapt Low Carbon Group
The Adapt Low Carbon Group brings together a broad range of expertise and builds on the widely acknowledged successes of the University of East Anglia’s (UEA) business activities in the low carbon sector. The Group is delivering EU projects worth over £52m with the backing of European Regional Development Fund. It also offers a professional service to businesses looking to save money through reducing their impact on the environment. Any profit is returned to UEA through gift aid.
Adapt has created The Enterprise Centre, which will be the UK’s greenest commercial building meeting the highest BREEAM and Passivhaus standards.
For more information, please visit http://www.adaptlowcarbongroup.co.uk
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