€1m fund for firms to tackle climate change
A €1m fund to support firms in the green-tech space has been launched by Sustainable Nation Ireland, a new body tasked with promoting Ireland as a hub for sustainable business.
The "2° Platform" aims to help fledgling companies bring low-carbon ideas and products to the market, and tap into the global drive towards sustainability and to keep global warming below a 2C rise.
Funding is confined to any product which helps reduce the impacts of climate change, ranging from clean energy, efficiency in food production, access to water and urban population growth.
Businesses will be invited to join the platform by Sustainable Nation, which will help connect the entrepreneur to the market and buyers and create a pipeline of indigenous low-carbon products and services with global impact. It is designed to benefit Irish startups, existing firms and larger brands.
"Almost 200 world governments asked the private sector to partner with them to achieve the 2C, or less, target after the climate change talks in Paris last December and Irish companies are well-placed to respond," Sustainable Nation Ireland director Aideen O'Hora said.
"I'm delighted that we can provide 2°Platform, which brings together resources, knowledge, insights and partnerships, focused on responding to this call to arms. Ireland is developing service and finance solutions in the sustainability sector, and becoming leader and educator in how these solutions are implemented globally."
Wayne Byrne, ceo of OxyMem, a UCD spinout which is commercialising a solution to reduce the cost of water treatment, said the initiative would help open up opportunities for smaller firms.
Sustainable Nation partners include AIB, Coillte, ESB, the SEAI and Amarenco.