Entrepreneurial Finance for Green Innovative Smes Conference June 18
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Entrepreneurial Finance for Green Innovative SMEs conference Thursday 20 June 2019 Page !1 of !18 Page !2 of !18 https://www.pexels.com/photo/agriculture-alternative-energy-clouds-countryside-414837/ Introduction Environmental issues first surfaced in 1972, at the United Nations Conference on the Human Environment in Stockholm. The recent COP24 Katowice Climate Change conference highlighted the increasingly urgent need to operationalise the Paris 2015 agreement to reduce greenhouse gas emissions to ensure that climate change does not peak beyond 2C above preindustrial levels (to avoid the level beyond which catastrophic change may occur). Mitigation steps are many and varied and include national and transnational programmes (e.g. World Bank and European Union) to fund new innovative green industry circular economy solutions and encourage private sector investment to achieve a socio-environmental just transition. Whilst considerable focus has been on government programmes to fund larger scale projects (e.g. renewable energy and infrastructure), such as through public backed Green Investment Banks, alongside policies to encourage businesses energy efficiency, far less attention has been given to addressing the green innovation patient capital gap facing early stage small businesses. Since there are strong arguments that small businesses play a significant role in disruptive technological innovation, addressing their financing needs is arguably crucial to support the Paris agreement. Furthermore governments need to support innovation at lower technology readiness (TRL) levels, which may be far from commercial readiness and encourage traditional and new sources of entrepreneurial finance into this space. Ultimately, this can provide the best opportunity for optimal technological solutions to addressing climate change. The conference therefore aims to bring together leading academics, policy makers and practitioners to discuss and showcase the interplay of policy and contemporary new innovative forms of entrepreneurial finance for early stage green innovative SMEs. https://www.pexels.com/photo/clear-light-bulb-planter-on-gray-rock-1108572/ https://d68b3152cf5d08c2f050-97c828cc9502c69ac5af7576c62d48d6.ssl.cf3.rackcdn.com/documents/events/documents/green-finance-cfpp.pdf " Climate Focus (2015) The Paris Agreement Summary. CliateFocus client brief on Paris Agreement III, 28/12/2015. " https://climatefocus.com/sites/default/files/20151228%20COP%2021%20briefing%20FIN.pdf" Owen, R, Brennan, G, and Lyon, F. (2018) Enabling investment for the transition to a low carbon economy: Government policy to finance early stage green innovation. Current Opinion in Environmental Sustainability Vol.31: 137-145" Rizos, V.,Behrens, A.,van der Gaast, W., Hofman, E., Ioannou, A., Kafyeke, T., Flamos, A., Rinaldi, R., Papadelis, S., Hirschnitz-Garbers, M., and Topi, C. (2016)Implementation of circular economy business models by small and medium-sized enterprises (SMEs): Barriers and enablers.Sustainability. 8, 11, 1212. Doi:10.3390/su8111212" GRICC (2018) Climate change and the just transition: A guide for investor action. Grantham Research Institute on Climate Change, London School of Economics, LondonLee, N, Sameen, H. and Cowling, M. (2015) Access to finance for innovative SMEs since the financial crisis. Research Policy, 44(2), pp.370-380." McDaniels, J. and Robins, N. (2017) Mobilizing Green Finance for Small and Medium Sized Enterprises in the G7. UN Environment Inquiry: Design of a Sustainable Financial System." Rowlands, C. (2009) The Provision of Growth Capital to Small and Medium Sized Enterprises. Report for the Department for Business, Innovation and Skills. Crown Copyright, Richmond, London, November ISBN 9780115155253" Bak, C. (2017) Generating Growth from Innovating the Low Carbon Economy: Exploring Safeguards in Finance and Regulation. Centre for International Governance Innovation (CIGI) Working Paper 117, January, Waterloo, Canada. Available from: https://www.cigionline.org/sites/default/files/documents/Paper%20no.117_WEB.pdf" Lerner, J. (2010) The Future of Public E#orts to Boost Entrepreneurship and Venture Capital. Small Business Economics, 35 (3): 255-264." Page !3 of !18 Magusson, T, and Berggren, C. (2018) Competing innovation systems and the need for sustainable redeployment in sustainable transition. Technology Forecasting and Social Change Vol.126(C ): 217-230 Kingston University with over 17K students is the biggest provider of HE in West London. KU was the winner of the Guardian University Award for Teaching Excellence in 2017. Kingston Business School is part of Kingston University situated on Kingston Hill Campus. Kingston Business School has been awarded the prestigious international accreditation by the AACSB (Association to Advance Collegiate Schools of Business) in recognition of the excellence of our business education. This accreditation has been earned by just five per cent of the world's business schools. Many courses are also accredited and recognised by professional bodies, including the Association of MBAs and the Chartered Institute of Marketing. The Business School also hosts the Small Business Research Centre (SBRC), one of the leading research groups in the UK in the field of small business and entrepreneurship. The Institute for Small Business and Entrepreneurship (ISBE) is the UK’s largest and most well established network for individuals and organisations involved in: • Enterprise education practice • Small business and entrepreneurship research https://isbe.org.uk/ • Entrepreneurship policy formulation, delivery and evaluation • Small business support, advice and development With over 500 members, a network of close to 4,000 and a strong and relevant board, ISBE is at the forefront of developments in this sector. Page !4 of !18 Programme 20 June 2019 9:15 - 9:50 Registration, Coffee & Tea 9:50 - 10:00 Welcome Professor Robert Blackburn Associate Dean Research; Director SBRC Kingston Business School Kingston University Key note speakers 10:00 - 10:30 A future of green entrepreneurial Professor Fergus Lyon finance? Setting a research Deputy Head of ESRC Centre for Understanding agenda. Sustainable Prosperity, Centre for Enterprise and Economic Research, Middlesex University 10:30 - 11:00 Sustainable growth in the UK James Rydge London School of Economics, Grantham Research Institute on Climate Change and the Environment 11:00 - 11:10 Q&A (moderated) Session I: Financial models for green start ups 11:10 - 11:30 Did debt and equity markets Professor Marc Cowling respond differently to clean tech College of Business, Law, and Social Sciences, innovation and investment after the University of Derby GFC? Weixi Liu Bath Management School, University of Bath 11:30 - 11:50 Coffee Break 11:50 - 12:10 Impact investment funds – a future Svenja Jarchow for green start-ups? TUM School of Management, Technical University of Munich 12:10 - 12:30 Green Bonds – an opportunity for Kathrin Greiff financing climate change Wuppertal Institute for Climate, Environment and Energy Institut für die Zukunft der Industriegesellschaft - INZIN Institut Svenja Jarchow TUM School of Management, Technical University of Munich Jens Teubler Wuppertal Institute for Climate, Environment and Energy Page !5 of !18 12:30 - 12:50 50 Shades of Green – angel Tiago Botelho, investing Konstantinos Chalvatzis, Norwich Business School, University of East Anglia Colin Mason, Adam Smith Business School, University of Glasgow 12:50 - 13:00 Q&A (moderated) 13:00 - 14:00 Lunch Session II: Current and future trends 14:00 - 14:20 Financing cleantech firms: Issues Seán O’Reilly, and Evidence Technological University Dublin. Ciarán Mac an Bhaird, Dublin City University 14:20 - 14:40 How do Business Models affect Daniele Leone, Crowdfunding Initiatives in Circular Vincenzo Verdoliva, Economy? An Exploratory Study Francesco Schiavone, University of Naples Parthenope 14:40 - 15:00 Towards a Green New Deal: Robyn Owen, Lowering the Financing Barriers for Othmar Lehner, CleanTech Ventures Fergus Lyon Geraldine Brennan, Centre for Enterprise and Economic Development, Middlesex University Business School 15:00 - 15:20 Cleantech incubators and the Yannis Pierrakis, entrepreneurial ecosystem: Prof David Smallbone, Fundraising sources, income Anna Ivanova, generation strategies and the role of Kingston Business School public support Gregor Schueler, InfoDev, The World Bank 15:20 - 15:40 Q&A (moderated) 15:40 - 16:00 Coffee Break 16:00 - 16:20 UK Green Finance in Latin America Jeffrey Beyer, Carbon Limiting Technologies 16:20 - 16:35 Case study: The challenge of Rosa Busquets passing from successful prototypes Kingston University to commercial products: a case study on water purification 16:35 - 16:50 Case study: Chip[s] Board®- a Rowan Minkley Kingston University start-up Chip[s] Board® Rob Nicoll Chip[s] Board® 16:50 - 17:00 Q&A (moderated) 17:00 - 17:10 Closing remarks Ian Roberts, Head of Kingston Business School 17.10 - 18.00 Wine reception Page !6 of !18 Professor Robert Blackburn Kingston Business School, Kingston University Robert is Associate Dean for Research at Faculty of Business and Social Sciences and Director of the Small Business Research Centre at Kingston University. His PhD involved an analysis of job generation and job quality in small firms drawing upon various theories of small firm strategy and development. He has since undertaken a range of analyses of small firms and entrepreneurship.Appointed Chair REF 2021, sub-panel unit of assessment 17 Business and Management.