Investing in cleantech in NE England

Venture Connect is being run by the 2050 Maritime Innovation Hub, based at the Port of Tyne. Alongside the port, collaborators include Connected Places Catapult, Barclays, North Star Ventures, Gresham House, Innovation Super Network and others.

Dr Jo North, technology and transformation director at the Port of Tyne, said it was exciting to launch with the first cohort. “The maritime industry is changing exceptionally quickly and there is an urgent need for our unique decarbonisation challenges to be solved,” she said.

Eight cleantech businesses form the first tranche of the programme and will participate in a four-month mentored accelerator programme.

The aim of Venture Connect is to deliver ‘scale up ready’ enterprises, with each business able to attract the capital needed for growth.

Mentors have been selected from more than 25 organisations, including experts from the Innovation Super Network, Barclays, plus members of the Port of Tyne’s board and leadership Team.

The Port of Tyne will also offer its clean energy and 5G testbeds to give developers the chance to test solutions within a live port environment.

“Venture Connect completely aligns with the port’s vision to contribute to sustainable maritime development and expedite economic growth across the North East of England,” said Julia Prescot, deputy chair at the Port of Tyne.

“We believe this programme will play a significant part in helping to transform not only the maritime sector, but also the UK and the region’s economic prospects.”

Venture Connect launched with a day of workshops and seminars on 7 February at the 2050 Maritime Innovation Hub.