UK cleantech start-ups are to be granted access to China through a new tech accelerator, as the country opens its doors.
The Shanghai international energy innovation centre (SIEIC) wants UK companies in the IoT, cleantech, smart cities and fintech sectors to help larger Chinese corporates with research and development.
To help achieve this, a £24 million joint fund between Chinese energy giant SHEnergy and BGTA will be created to invest in tech start-ups with a ‘proven product,’ which will be housed in a 1,300 square meter co-working and multi-function hub in Shanghai.
BGTA will run demo days in London to select companies to join the accelerator.
The hub will focus on factors relating to energy generation and use as well as environmental management and protection, with a particular emphasis on smart cities. Residential pilot programs will also be offered to UK firm to then launch larger scale commercial contracts in China.
Renewable push for China
China is under pressure to meet climate change targets agreed at the International Paris agreement in 2015 and invested a huge $126.6 billion into renewable energies in 2017 such as solar power as it launches its ‘war on pollution’ project.
Helen Wang, CEO of BGTA commented, ‘This partnership is a fine example of cross-country acceleration, and we are delighted to offer UK companies a launchpad to access the Chinese market.’
Dr Song Xuefeng, deputy general manager of the SHEnergy Group and Chairman of Shanghai Energy innovation development company said, ‘SHEnergy is pioneering the corporate open innovation program, an initiative that is well-endorsed by our senior management team. We believe this will not only have a strong impact on our company but also as a case study of a state-owned enterprise in China.’
For more information, go to www.bgta.co.uk
To apply for a place in the accelerator send an email to email@example.com