Is your Start-Up helping to accelerate the Government’s path to Net-Zero? Want to raise awareness of your Start-Up across the UK and in the Middle East? If so, this competition is for you.
The Department for Business and Trade’s (DBT) Venture Capital Unit (VCU) is launching its third national scale-up competition, called, the ‘Green Builders of Tomorrow’ designed to identify the best early-stage companies that will support the British Government’s ambition to support green jobs and accelerate the UK’s path to Net Zero. The DBT is continuing to build on its commitment to help tackle climate change and will be partnering with Octopus Energy to host this year’s competition in the UAE and Saudi Arabia from 21-24 April 2024
A key driver for launching the competition is to build upon our relationships with investors in the UAE and Saudi Arabia. Both governments are aiming to position themselves as a green tech hub and have very active investors in place.
Clean energy and environmental technology are strategic sectors for the UK, UAE and Saudi Arabia. As highlighted in the UK’s 10-point plan for a green industrial revolution and Saudi Arabia’s Green Initiative, the aim is to reduce carbon emissions through increasing reliance on renewables and investing in clean fuels. The UK and Saudi Arabia have committed to exchange expertise in carbon capture, utilisation and storage (CCUS), hydrogen and clean fuels and Saudi Aramco has launched a US$1.5bn fund to support cleantech innovation. This and the programmes underway present clear opportunities for private sector participation and partnerships.
The GBOT competition is being held in the UAE again as it ties in with their role as COP28 president. The UAE has also committed to Net Zero by 2050. The feedback we have received suggests UAE investors are keen on continuing to announce new investment contracts during the COP28 Presidency year.
This competition aims to identify and empower UK Start-ups that support the UK Government’s objectives to be Net-Zero by 2050, propelling the UK to become a global leader in renewable energy, sustainability and agricultural technology. It is a journey of unprecedented proportions and one that Octopus Energy is taking with us.
Our Green Builders of Tomorrow companies will receive:
- Return flights and accommodation to the UAE and Saudi Arabia for a 3-day investor facing programme of events in Dubai, Abu Dhabi and Riyadh.
- An evening reception event hosted by HM Trade Commissioner and Consul General, Oliver Christian, at the Dubai Embassy that will target UAE investors and key stakeholders.
- An evening reception in Riyadh that will target Saudi Arabian investors and key stakeholders.
- Promotion to a highly curated audience of international Venture Capitalists, Corporate Venture Capital investors, intermediaries, and wider tech ecosystems.
- Promotion through wider UK Government and Octopus Energy media channels, our judges’ networks; and
- Inclusion in this year Green Builders of Tomorrow Lookbook (Venture Capital Investment Brochure) shared with the Venture Capital Unit’s network of over 250 CVC and VC’s globally.
Start-up criteria:
- A compelling investment proposition for non-UK investors
- UK headquarters and operations
- Seeking to raise between £5-100m in the next three quarters
- At least one active client or pilot
- Able to demonstrate market traction
- Actively contributing to the UK Government’s ambition to achieve net zero
- Founder or CEO available to travel between 21-24 April 2024
Once submissions have been received, a joint UK, UAE and Saudi Arabian panel of industry experts will review the cohort and name VCU’s Green Builders of Tomorrow.
If you would like to be considered for this unique opportunity, please register by clicking on the button below by 12 March 2024.
