University of East Anglia Low Carbon Innovation Fund (LCIF)

Tag: business case

University of East Anglia Low Carbon Innovation Fund (LCIF) image #1

The Adapt Low Carbon Group at the University of East Anglia have developed and managed a number of investment vehicles to assist SME businesses. The Low Carbon Innovation Fund (LCIF) makes investments from £10k to £1m in a diverse portfolio of businesses from high-tech spin-out companies to the first low carbon film production, ‘Peter Grimes on Aldeburgh Beach’.

The Fund is supported with £20.5m ERDF funds and has a number of ambitious targets to meet, including 617 jobs created and 115 jobs safeguarded - both on track to be met - plus innovation and environmental initiatives which have already been met.

Investments are made alongside private sector investors at a maximum ratio of 50/50 and currently this is over target at around 25/75 with over £43m having been invested with the help of the scheme so far. The group are now developing a new LCIF England, LCIF Legacy and Agri-Innovation Funds to continue this work when LCIF comes to an end in December 2015.