Lambeth Council has been recognized for its innovative support of a climate tech ecosystem, backing more than 500 sustainable businesses through flexible workspace, investment, and sector expertise
Leading the Way in Green Innovation
Lambeth Council has strengthened its reputation for green initiatives by supporting a climate tech ecosystem that aids over 500 sustainable businesses. This backing includes flexible workspaces, investment opportunities, and expert guidance in the sector. Sustainable Ventures, Europe’s largest climate tech hub, received significant funding from Lambeth’s Future Workspace Fund.
Development of Iconic Workspace
Lambeth’s Future Work Space
The £1.45 million funding from Lambeth’s Future Workspace Fund helped establish a remarkable 40,000+ sq ft workspace at County Hall, the former GLC building on the Thames. This expansive fifth-floor hub houses numerous climate-focused organizations, including the 2023 Earthshot Prize finalist ENSO, known for creating cleaner car tyres.
Andrew Wordsworth, Managing Partner at Sustainable Ventures, remarked, “Lambeth Council sets the benchmark for climate tech partnerships. Their support has accelerated our impact. I encourage other councils to adopt a sustainability strategy and foster green job creation.”
Commitment to Climate Action
In 2019, a climate emergency was declared by the first London borough Lambeth who was a pioneer in climate action. The Future Workspace Fund was launched in 2020 by Lambeth. He granted a fund designed to increase affordable and supportive workspaces with an £8 million loan. Over £4 million in match funding, Sustainable Ventures developed its flagship headquarters
Supporting Startups
Innovators
Startups in fields such as agritech, building technology, and mobility benefit from flexible workspaces, investment opportunities, and sector expertise. This setting nurtures networking and teamwork among pioneers in climate innovation. Lambeth Council has further aided Sustainable Ventures in running support programs for local businesses through its Economic Resilience Fund. The ‘Innovation Challenge’ program links established businesses, like the National Theatre and Kings College Hospital, with innovators from the Sustainable Ventures ecosystem to tackle issues such as waste and the circular economy.
Impact and Future Growth
The workspace has reached 97% capacity due to the high demand from companies tackling climate challenges. Lambeth Council showed direct support to over 100 startups.
Dr. Jacqui Dyer MBE, Lambeth Councillor, stated, “The partnership between Lambeth Council and Sustainable Ventures has generated numerous opportunities in the borough. It underscores Lambeth’s commitment to promoting climate tech innovation and sustainable solutions. As Europe’s largest climate tech hub, Sustainable Ventures has already supported 40 startups in the borough over the past two years. Our support enhances the growth potential of these startups, attracting more investment and job opportunities to the area.”
Sustainable Ventures aims to replicate this success across the UK, urging councils to collaborate and support green growth strategies.
