Octopus Unleashes Sustainable Tech Startup Accelerator

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by KnowESG
KnowESG_Simon Rogerson, Octopus Group CEO
Image of Octopus Group CEO, Simon Rogerson

Octopus Group has unveiled an exciting new initiative aimed at fostering the growth of sustainable deep tech startups across the UK and Europe.

The groundbreaking Springboard programme is set to focus on nurturing businesses that tackle pressing global challenges such as climate change, resource scarcity, and energy security.

Drawing inspiration from cutting-edge fields like robotics, quantum technologies, photonics, and AI, Octopus aims to support startups that offer innovative solutions to these critical issues.

Simon Rogerson, co-founder and CEO of Octopus Group, expressed his firm belief in the power of entrepreneurs as true agents of change with the potential to drive positive transformation for both society and the planet.

While securing funding is often cited as a major obstacle for budding entrepreneurs, the Springboard programme recognises other significant concerns, such as customer discovery and finding a market fit for their ideas.

To address these challenges, the bi-annual three-month accelerator will provide participating entrepreneurs with valuable mentorship, networking opportunities, and comprehensive business development training.

Initially, the Springboard project was an internal endeavour aimed at supporting Octopus founders. Now, it will be steered by the experienced team behind Octopus Ventures, the venture capital arm of the company. Octopus Ventures boasts a solid track record as one of the UK's most active early-stage investors, having played a crucial role in the success stories of several prominent British startups.

The accelerator's previous beneficiaries include well-known names like Depop, a thriving e-commerce brand; Cazoo, the trailblazing online car retailer, and Zoopla, the digital real estate market leader.

Moreover, in line with its commitment to fostering deep tech innovation, Octopus Investments recently launched a £40 million pre-seed deep tech fund, complemented by a strengthened deep tech team in 2022.

With Octopus Group's Springboard programme poised to accelerate sustainable deep tech ventures, it stands as a testament to the company's dedication to shaping a brighter, more innovative future for us all.

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Source: UKTN

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