A UK-wide search for the next 'Green Genius' was announced by deputy prime minister, Nick Clegg last week, as part of a new, £3 million competition to boost green growth.
Due to launch later this year, the so-called 'Greenius' contest will support new businesses and entrepreneurs working on the early stage technologies and business models that could provide innovative solutions to food, water and energy security issues.
The solutions could be new ways to keep energy bills down, to manage food and water resources more effectively, or to ensure that there are clean, green and reliable energy supplies in the UK, in the future.
The cross-Government initiative will offer funding for entrepreneurs and businesses to develop and commercialise innovative technologies and the £3 million is likely to be divided up between a number of winners.
Applicants will need to demonstrate that their ideas are economically and environmentally affordable, and that they will also contribute to long-term resource security and generate improvements in the natural environment and human wellbeing.
Mr Clegg said: "When it comes to green innovation, Britain is a world leader. The green sector is worth eight per cent of UK GDP [Gross Domestic Product] - the largest proportion of any of the leading industrial G20 nations – and employs almost 940,000 people, up 2.8 per cent from last year. Sales in the green economy are also growing at a rate of 4.7 per cent.
"Now we want the very best of Britain’s green talent to set their minds to some of the toughest challenges facing the country today – how to keep bills down for households and businesses and ensure we manage our food, water and energy supplies more sustainably."
'Ideas to market'
Business secretary, Vince Cable added: "There is great potential for our world leading companies and engineers to be at the forefront of developing new technologies which can help combat some of the most pressing issues facing all of us.
"By helping to bring those ideas to market we can not only benefit our economy, but also the environment."
The new competition will be run by the Technology Strategy Board and further details are expected to be announced in the coming months, including information about how businesses can apply.
Posted under Environmental Technologies and Renewable Energy
and Environmental Technologies
and Other Manufacturing on 27 June 2012