European project to fund clean tech start-ups

The initial 18 month phase of the partnership includes a $5million business incubation fund targeted at new low carbon technologies in the area of infrastructure applications. The Carbon Trust will work with GE to identify and evaluate early stage companies, then incubate and invest in those with the most potential. The partnership forms part of GE's $200m GE ecomagination Challenge, a global open innovation initiative with Venture Capital partners that launched in 2010 to find and fund the best ideas around clean tech technology. To date, GE and partners have committed $134m for investment and commercial partnerships with start-up companies globally. Tom Delay, chief executive of the Carbon Trust said: "Clean tech has the capacity to be a strong growth driver for Europe given its strong research capability and track record in this area. However, there is increasing evidence that other parts of the world are catching up and overtaking the region. This exciting initiative will accelerate the commercialisation of Europe's more promising clean tech businesses." Companies interested in applying for funding can register their interest here.