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Shell launches finance finder for eco-friendly SMEs at London festival

Dutch multinational Shell has launched a new online tool for SMEs in the sustainability and low-carbon sectors that aims to help them unearth funding sources.

Revealed as part of the innovation-focused Make the Future festival in London, the Access to Finance Navigator is a digital database of sector-specific funding sources that encompasses everything from government funding to venture capital firms and angel investors.

Across 84 different sources of funding, the database claims to contain information and links to almost £157m-worth of green investment.

Erik Bonino, Chairman of Shell UK and Executive Vice President Downstream Technology, commented: “Shell Springboard provides low-carbon entrepreneurs with a vital foothold on the funding ladder, but for many this is just the start of a journey to secure the finance they need.

“Finding people or organisations to support new businesses is complex and time consuming. To help navigate the funding landscape, we developed the Access to Finance Navigator with experts in finance and the low-carbon sectors.”

By joining the dots between the different sources of funding that are available to startups and entrepreneurs, Shell hopes to make it easier for low-carbon businesses at various stages of growth to get on top of the sort of investment options that are available to them.

Solveiga PakštaitÄ—, founder of the pioneering food expiry label company BumpMark, believes that ‘funding is key’ for startup businesses looking to get off the ground.

She said: “Understanding which funding sources are best for your business and navigating the huge range of funding resources available can take as much time as applying for the money itself.

“Shell Springboard’s Access to Finance Navigator is a great idea and will make it much easier for entrepreneurs in the sustainability and low carbon sectors to find the funds they need. It’s hugely valuable.”

The new online tool, which allows companies to tailor searches to their specific circumstances and requirements, is part of Shell Springboard, an initiative by the oil giant that looks to invest in low-carbon entrepreneurs and business ideas.

Bonino added: “Alongside our wider enterprise development programmes, this provides the type of support low-carbon businesses in the UK are seeking.”

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