SHAKE programme has secured new funding to support the next round of sciene and tech-based ideas
The SHAKE Climate Change entrepreneurship programme has secured £845,000 to invest in new projects that will help deliver the next generation of climate-friendly farming.
SHAKE, which is based on a unique funding model, helps entrepreneurs and start-ups who are combating climate change with science or tech-based ideas in the areas of agriculture and food production.
Those ventures that progress through all three phases of the programme will receive up to £125,000 in funding and two years of expert mentoring to help build their business.
Now in its fourth year, the programme is hosted and led by Rothamsted Research as part of a consortium with three leading universities – Cranfield University, the University of Hertfordshire and University College London.
Original funding for the initial four cohorts came from the Societe Generale UK Foundation, which is now joined by three more investors to enable SHAKE 2024 - Climate Change Cohort 5: Beeches Capital, the Lawes Agricultural Trust, and The Novo Nordisk Foundation.
“Having witnessed the breadth of ideas, entrepreneurial spirit and dedication of the ventures involved, as well as their scaling-up potential, the Foundation is proud to have been part of SHAKE’s origins and we are pleased to continue to support it alongside new partners”, said John Oberman, chair of the Societe Generale UK Foundation.
Making start-ups viable
The programme focuses on closing the gap in business development between the early start-up stage and investable ventures, through provision of expert care and advice, sourced through the high-profile consortium and its associated network of mentors.
The first four cohorts, from 2019-2022, involved a total of 64 entrepreneurs with 11 successful ventures ultimately selected by SHAKE for investment.
Many of these early ventures have already notched up some impressive successes. Seven of the original eleven funded have each raised over £1mn in further investment after SHAKE nurtured their early growth. Bristol-based Glaia, for instance, which is transforming how plants grow, benefitted from SHAKE funding and mentoring in 2019 and secured a further £1.3mn in investment funds.
Economad, which specialises in small on-farm biogas generators, has also broken the £1mn investment mark.
Together, the group has raised almost £15mn in additional seed stage funding and several are getting ready for series A.
Applications are now open until 6 January 2025. Further details are available here.
