Innogen

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Profiling the UK Clean Technology Sector: Entrepreneurship, Investment and Innovation

Stuart Parris

Funding: British Academy

Started: January 1 2010

This project investigated the role of different types of finance for supporting the innovative activity of small and medium sized enterprises (SMEs) operating in the environmental sector. The environmental sector has been expected to be critical for the future economic development of the UK in supporting a new low carbon economy. Entrepreneurial and innovative firms often require significant funding to support their innovative activities in the initial stages; however, little research had previously examined the relationship between finance and innovation in this sector.

This project profiled activity in the UK, firstly to understand the relationships between finance and innovation in SME firms. Second, it provided an important step towards clarifying the underlying innovative activities of a sector that has attracted significant investor interest. Specifically, the project sought to understand the relationship between the sources of finance and the implications this has on firms’ innovation strategies. In doing so, it provided important insights into the most appropriate forms of finance for supporting new innovation in this sector.