Innovate UK KTN has chosen 13 startups to participate in its sustainability accelerator programme. Over the next ten weeks, the firms selected from the group’s Sustainable Innovation Fund will work with them and their partners to further develop propositions and prepare to raise external capital.
The Sustainable Impact Investment Programme (SIIP) is an initiative led and funded by Innovate UK KTN to support high growth impact-driven startups from the UK who were awarded grants from the Sustainable Innovation Fund to aid economic recovery after Covid.
During the sustainability accelerator programme, companies will receive a syllabus of group workshop-led support, expert insight from investors, and tailored 1-1 support to help them prepare and navigate raising money. SIIP will end with a Demo Day delivered in the final week of the programme to an audience of relevant early-stage investors.
Companies selected fall across the broad themes of Net Zero, Circular World, Society, Health and Food. All building innovation led companies to deliver profitable and equitable outcomes for our world.
Some of the 13 startups include Born Maverick, a company developing seaweed-based alternatives to scallops and seafood, Little Loop which allows people to rent children’s clothes for a subscription fee, and Zelemiq, a wearable technology helping to tackle the global obesity crisis through tracking blood sugars. 40% of the startups on the programme have a female founder, unusually high for an accelerator programme, and many are already highly experienced founders.
SIIP is a 12-week investment acceleration programme designed to support 13 high growth impact companies in raising capital, delivered in partnership with startup growth experts Growth Studio. The 13 companies are:
- Achelous Energy – Generating 100% carbon-free energy, 24-hours a day, from fast flowing rivers.
- ALP Technologies – Delivering cheaper, more efficient and more effective energy to developing and low income countries through intelligent batteries. Described by Google as ‘the next big unicorn.’
- Beta Bugs – Developing and distributing higher yield breeds of Black Soldier Fly to insect farmers to grow as an alternate, more sustainable source of protein.
- Born Maverick Food Innovation – Developing plant-based ingredients and formulations for mass market food manufacturers that are tastier, more sustainable, ethical, nutritious and planet-friendly.
- Greener – A platform to make it easier, quicker and smarter for food businesses to connect with supply chain partners who share sustainability values.
- Inavya Ventures (Avatr) – Enabling doctors to create highly personalised care plans for patients that has proven to increase adherence and monitor patients’ recovery when recovering at home
- Lumino – Digital therapeutics company launching with Seren, a CBT app for those dealing with difficult menopause symptoms.
- Lytegro – Company converting waste bananas into products which accelerate the growth and productivity of industrially important microbes (distilling, anaerobic digestor and pharma)
- Orora UK Services Limited – Helping governments, banks, and other institutions provide basic banking services to those without an address who would otherwise be excluded from the financial system.
- TheLittleLoop – Subscription platform for parents to rent trendy, ethically sourced clothing for their kids that can be exchanged for bigger sizes and newer styles as often as they like.
- VENTETE (AirHead) – Encouraging cycling by rethinking how helmets can be designed to be far more convenient to carry without compromising on safety.
- Wyser – Helping legal services optimize how they help call-centre enquiries using Artificial Intelligence and Natural language Processing. This helps prioritise inbound calls, optimise their call operations, and ultimately helps consumers get quicker, better access to justice and help.
- Zelemiq – A technology company developing solutions for the growing health tracker and medical device market. Their breakthrough technology enables simple rapid measurement of blood sugar levels without the needles, patches or pain.
The Sustainable Innovation Fund included three rounds of funding and a specific competition focused on Small Business Research. Businesses working on innovative projects across a variety of technologies, markets, and regions accessed the funding. The portfolio focuses on companies tackling Covid-19 recovery, Equality, Diversity, and Inclusion and Net Zero.
Jordan Fletcher, Investment Lead at Innovate UK KTN said: “The companies were selected based on their ability to make a tangible positive impact in society, whether that be our health, the climate we live in, or the food we eat. SIIP is a very hands on-programme to support companies in preparing and navigating raising funding. Our aim, with our partners, is to accelerate the process to launch new concepts and scale solutions creating real world impact.”
