Early stage investing in green SMEs: The case of the UK

Robyn Owen*, Othmar Lehner, Fergus Lyon, Geraldine Brennan

*Corresponding author for this work

Research output: Contribution to journalArticleScientificpeer-review

Abstract

How might a Green New Deal be applied to the early stage financing of Cleantechs? Amidst rising interest and adoption of Green New Deals in the US, the paper explores the need for more focused policy to address early stage long horizon financing of Cleantechs. We argue that insufficient focus has been applied to early stage investing into these types of innovative SMEs that could lower CO2 emissions across a range of sectors (including renewable energy, recycling, advanced manufacturing, transport and bio-science). Adopting a resource complementarity lens and borrowing from transaction cost theory, we illustrate and build theory through longitudinal UK case studies. These demonstrate how government policy can scale-up through international collaboration public-private, principally venture capital, co-finance to facilitate cleantech innovation with potentially game changing impacts on reducing CO2 emissions in order to meet the Paris 2015 Climate Change targets.

Original languageEnglish
Peer-reviewed scientific journalACRN Journal of Finance and Risk Perspectives
Volume8
Pages (from-to)163-182
Number of pages20
ISSN2305-7394
DOIs
Publication statusPublished - 07.01.2020
MoE publication typeA1 Journal article - refereed

Keywords

  • 512 Business and Management
  • early stage cleantech
  • green new deal
  • low carbon
  • SME finance

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