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

Owen, Robyn ORCID: https://orcid.org/0000-0003-4241-3367, Lehner, Othmar M. ORCID: https://orcid.org/0000-0002-3317-9604, Lyon, Fergus ORCID: https://orcid.org/0000-0002-6275-4102 and Brennan, Geraldine (2020) Early stage investing in green SMEs: the case of the UK. ACRN Journal of Finance and Risk Perspectives, 8 (1) . pp. 163-182. ISSN 2305-7394 (doi:10.35944/jofrp.2019.8.1.011)

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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, cofinance to facilitate cleantech innovation with potentially game changing impacts on reducing CO2 emissions in order to meet the Paris 2015 Climate Change targets.

Item Type: Article
Keywords (uncontrolled): Green new deal, early stage cleantech, low carbon, SME finance
Research Areas: A. > Business School > Centre for Enterprise and Economic Development Research (CEEDR)
Item ID: 28737
Notes on copyright: © 2019 by the authors.
Licensee ACRN Publishing, Austria, Editor in Chief Prof. Dr. Othmar M. Lehner. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY SA) license.
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Depositing User: Pamela Macaulay
Date Deposited: 14 Jan 2020 15:30
Last Modified: 09 Feb 2020 19:10
URI: https://eprints.mdx.ac.uk/id/eprint/28737

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