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screen reader) and need a version of this document in a more accessible format, please email <a href="http://web.archive.org/web/20230307161747/mailto:alt.formats@beis.gov.uk?body=Details%20of%20document%20required%3A%0A%0A%20%20Title%3A%20Market%20assessment%20of%20the%20UK%20venture%20capital%20market%20for%20early-stage%20clean%20tech%20companies%0A%20%20Original%20format%3A%20pdf%0A%0APlease%20tell%20us%3A%0A%0A%20%201.%20What%20makes%20this%20format%20unsuitable%20for%20you%3F%0A%20%202.%20What%20format%20you%20would%20prefer%3F%0A%20%20%20%20%20%20&subject=Request%20for%20%27Market%20assessment%20of%20the%20UK%20venture%20capital%20market%20for%20early-stage%20clean%20tech%20companies%27%20in%20an%20alternative%20format">alt.formats@beis.gov.uk</a>. Please tell us what format you need. It will help us if you say what assistive technology you use. </div> </details> </div> </div> </section> </div> </section> <section id="details"> <h2 class="gem-c-heading gem-c-heading--font-size-27 gem-c-heading--mobile-top-margin">Details</h2> <div class="gem-c-govspeak govuk-govspeak direction-ltr" data-module="govspeak"> <div class="govspeak"> <p>This market assessment report examines the state of the UK venture capital (<abbr title="venture capital">VC</abbr>) market for early-stage clean tech companies.</p> <p>London Economics (<abbr title="London Economics">LE</abbr>) were commissioned by Department for Business, Energy and Industrial Strategy (<abbr title="Department for Business, Energy and Industrial Strategy">BEIS</abbr>) to look at early-stage investment (at seed and <abbr title="venture capital">VC</abbr> stages) in UK clean tech companies in 2021 and what changes have occurred over the previous 5-10 years. The potential role of clean tech companies to reduce greenhouse gas emissions and to stimulate economic activity is significant and therefore this assessment was essential in gaining an understanding of what state the market is in and factors facilitating growth in the future.</p> <p>The study contains the following:</p> <ul> <li>an assessment of the current (2021) state of early-stage investment in clean tech in the UK</li> <li>a comparison of the UK clean tech sector with other high-income countries (Germany, France, Sweden, and the US)</li> <li>a comparison of recent trends in the UK clean tech, biotech, and artificial intelligence sectors with other high-income countries (Germany, France, Sweden, and the US)</li> </ul> <p>A summary of the key findings in the report:</p> <ul> <li>early-stage investment in UK clean tech companies have risen from approximately 拢163 million in 2017 to approximately 拢420 million in 2021, (an overall increase of 158%)</li> <li>since 2017, total investment in the artificial intelligence and biotech sectors rose by 112% and 49% respectively</li> <li>much of the growth seen for clean tech occurred between 2020 and 2021, and it is not yet clear whether this is indicative of a longer-term trend; over the period 2017 to 2020 the number of investment rounds and the overall amount invested into AI and biotech grew faster than the amount invested in clean tech. In 2021 the overall volume of early-stage investment in UK clean tech companies was still considerably smaller than the volume of early-stage investment in AI and biotech companies (拢420 million compared with 拢710 million and 拢615 million respectively)</li> <li>the UK showed larger increases in terms of total value of seed rounds and of series A rounds in clean tech companies as a percentage of <abbr title="Gross domestic product">GDP</abbr> since 2017 when compared to other high-income countries (Germany, France, and the US). However, Sweden had a higher increase than the UK</li> </ul> <p>Some challenges in early-stage clean tech companies in the UK identified were</p> <ul> <li>access to funding (particularly for companies developing hardware innovations)</li> <li>shortage of technical skills (particularly in <abbr title="Science, technology, engineering, and mathematics">STEM</abbr> skills)</li> <li>complex regulatory environments</li> </ul> <p>Overall, if the current trend of increased funding in clean tech in the UK continues, it will produce a significant number of success stories which will in turn encourage further funding in clean tech innovations in the UK. However, achieving this will require conditions (economic and governmental) that continue to promote investment in clean tech in the UK.</p> </div> </div> </section> </div> <div class="app-c-published-dates govuk-!-margin-bottom-5" lang="en"> Published 7 March 2023 </div> <div class="detailed-guide-bottom-button-container"> <div class="govuk-!-display-none-print govuk-!-margin-bottom-3" data-module="gem-track-click"> <form class="gem-c-single-page-notification-button" action="/web/20230307161747/https://www.gov.uk/email/subscriptions/single-page/new" method="POST" data-track-label="/government/publications/market-assessment-of-the-uk-venture-capital-market-for-early-stage-clean-tech-companies" data-track-action="Subscribe-button-bottom" data-track-category="Single-page-notification-button" data-button-location="bottom" data-button-text-subscribe="Get emails about this page" data-button-text-unsubscribe="Stop getting emails about this page"> <input type="hidden" name="base_path" 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"http://web.archive.org/web/20230307161747/https://www.gov.uk/government/publications/market-assessment-of-the-uk-venture-capital-market-for-early-stage-clean-tech-companies" }, "name": "Market assessment of the UK venture capital market for early-stage clean tech companies", "datePublished": "2023-03-07T13:49:52.000+00:00", "dateModified": "2023-03-07T13:49:52.000+00:00", "text": "Market assessment of the UK venture capital market for early-stage clean tech companies.", "publisher": { "@type": "Organization", "name": "GOV.UK", "url": "http://web.archive.org/web/20230307161747/https://www.gov.uk", "logo": { "@type": "ImageObject", "url": "http://web.archive.org/web/20230307161747/https://www.gov.uk/assets/government-frontend/govuk_publishing_components/govuk-logo-73b5a4056ffe9988d02c728b56fe9fe7f90bb822322a5f6183ccbb92a99b019a.png" } }, "image": [ "http://web.archive.org/web/20230307161747/https://www.gov.uk/assets/government-frontend/govuk_publishing_components/govuk-schema-placeholder-1x1-bf9e64d759af6dfd93bede8168f3087a329f405b382aff36747db0db4b7b23e9.png", "http://web.archive.org/web/20230307161747/https://www.gov.uk/assets/government-frontend/govuk_publishing_components/govuk-schema-placeholder-4x3-13093f053c15f613acd827aff27cac83d3fab452947cbcae4c7b706dadf2f7f2.png", "http://web.archive.org/web/20230307161747/https://www.gov.uk/assets/government-frontend/govuk_publishing_components/govuk-schema-placeholder-16x9-4233cd42671827e266e284c4d5ae68fb600bd9f9e35dda663ccabbc2b6ab7ec3.png" ], "author": { "@type": "Organization", "name": "Department for Energy Security and Net Zero", "url": "http://web.archive.org/web/20230307161747/https://www.gov.uk/government/organisations/department-for-energy-security-and-net-zero" }, "about": [ { "@context": "http://web.archive.org/web/20230307161747/http://schema.org", "@type": "Thing", "sameAs": "http://web.archive.org/web/20230307161747/https://www.gov.uk/environment/low-carbon-technologies" } ], "headLine": "Market assessment of the UK venture capital market for early-stage clean tech companies", "description": "Market assessment of the UK venture capital market for early-stage clean tech companies.", "articleBody": "\u003cdiv class=\"govspeak\"\u003e\u003cp\u003eThis market assessment report examines the state of the UK venture capital (\u003cabbr title=\"venture capital\"\u003eVC\u003c/abbr\u003e) market for early-stage clean tech companies.\u003c/p\u003e\n\n\u003cp\u003eLondon Economics (\u003cabbr title=\"London Economics\"\u003eLE\u003c/abbr\u003e) were commissioned by Department for Business, Energy and Industrial Strategy (\u003cabbr title=\"Department for Business, Energy and Industrial Strategy\"\u003eBEIS\u003c/abbr\u003e) to look at early-stage investment (at seed and \u003cabbr title=\"venture capital\"\u003eVC\u003c/abbr\u003e stages) in UK clean tech companies in 2021 and what changes have occurred over the previous 5-10 years. The potential role of clean tech companies to reduce greenhouse gas emissions and to stimulate economic activity is significant and therefore this assessment was essential in gaining an understanding of what state the market is in and factors facilitating growth in the future.\u003c/p\u003e\n\n\u003cp\u003eThe study contains the following:\u003c/p\u003e\n\n\u003cul\u003e\n \u003cli\u003ean assessment of the current (2021) state of early-stage investment in clean tech in the UK\u003c/li\u003e\n \u003cli\u003ea comparison of the UK clean tech sector with other high-income countries (Germany, France, Sweden, and the US)\u003c/li\u003e\n \u003cli\u003ea comparison of recent trends in the UK clean tech, biotech, and artificial intelligence sectors with other high-income countries (Germany, France, Sweden, and the US)\u003c/li\u003e\n\u003c/ul\u003e\n\n\u003cp\u003eA summary of the key findings in the report:\u003c/p\u003e\n\n\u003cul\u003e\n \u003cli\u003eearly-stage investment in UK clean tech companies have risen from approximately 拢163 million in 2017 to approximately 拢420 million in 2021, (an overall increase of 158%)\u003c/li\u003e\n \u003cli\u003esince 2017, total investment in the artificial intelligence and biotech sectors rose by 112% and 49% respectively\u003c/li\u003e\n \u003cli\u003emuch of the growth seen for clean tech occurred between 2020 and 2021, and it is not yet clear whether this is indicative of a longer-term trend; over the period 2017 to 2020 the number of investment rounds and the overall amount invested into AI and biotech grew faster than the amount invested in clean tech. In 2021 the overall volume of early-stage investment in UK clean tech companies was still considerably smaller than the volume of early-stage investment in AI and biotech companies (拢420 million compared with 拢710 million and 拢615 million respectively)\u003c/li\u003e\n \u003cli\u003ethe UK showed larger increases in terms of total value of seed rounds and of series A rounds in clean tech companies as a percentage of \u003cabbr title=\"Gross domestic product\"\u003eGDP\u003c/abbr\u003e since 2017 when compared to other high-income countries (Germany, France, and the US). However, Sweden had a higher increase than the UK\u003c/li\u003e\n\u003c/ul\u003e\n\n\u003cp\u003eSome challenges in early-stage clean tech companies in the UK identified were\u003c/p\u003e\n\n\u003cul\u003e\n \u003cli\u003eaccess to funding (particularly for companies developing hardware innovations)\u003c/li\u003e\n \u003cli\u003eshortage of technical skills (particularly in \u003cabbr title=\"Science, technology, engineering, and mathematics\"\u003eSTEM\u003c/abbr\u003e skills)\u003c/li\u003e\n \u003cli\u003ecomplex regulatory environments\u003c/li\u003e\n\u003c/ul\u003e\n\n\u003cp\u003eOverall, if the current trend of increased funding in clean tech in the UK continues, it will produce a significant number of success stories which will in turn encourage further funding in clean tech innovations in the UK. However, achieving this will require conditions (economic and governmental) that continue to promote investment in clean tech in the UK.\u003c/p\u003e\n\n\u003c/div\u003e" } </script><script type="application/ld+json"> { "@context": "http://web.archive.org/web/20230307161747/http://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "name": "Home", "@id": "http://web.archive.org/web/20230307161747/https://www.gov.uk/" } }, { "@type": "ListItem", "position": 2, "item": { "name": "Environment", "@id": "http://web.archive.org/web/20230307161747/https://www.gov.uk/environment" } }, { "@type": "ListItem", "position": 3, "item": { "name": "Energy infrastructure", "@id": "http://web.archive.org/web/20230307161747/https://www.gov.uk/environment/climate-change-energy-energy-infrastructure" } }, { "@type": "ListItem", "position": 4, "item": { "name": "Low carbon technologies", "@id": "http://web.archive.org/web/20230307161747/https://www.gov.uk/environment/low-carbon-technologies" } } ] } </script> </body> </html>

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