Investing in better air quality with Growth Studio

Shaken Not Burned

Highlighting changemakers and solutions

Welcome to another week of Shaken Not Burned!

This week Giulia interviews Paul Finch, co-founder at Growth Studio, a London-based accelerator helping early-stage startups seeking solutions to the triple planetary crisis of climate change, biodiversity loss, and pollution. In the interview, Paul and Giulia discuss the issue of air quality, how the startups accelerator is working to change the investment landscape, and how the programmes are going.

For companies in this space, it can be very challenging to raise initial investment to build a viable business: Paul and his colleagues want to demonstrate to venture capitalists that they can be as compelling as more traditional investments. Solutions to improve air quality, in particular, are few and far between. Even though it affects everyone around the world, air pollution remains an overlooked issue that requires systematic change and decisive action from governments, according to Paul. Yet, the technology to reduce it already exists and can be scaled up.

Growth Studio runs the Breathable Cities programme, now open in its second iteration. Last year’s cohort members include Applied Nanodetectors, which has developed an indoor air quality monitor for asthma sufferers, GoRolloe and The Tyre Collective, which are reducing pollution in the transport sector, Kleanbus, which retrofits diesel buses, Persium, which monitors air quality in cities with digital twins, and Hubl, which makes refrigeration on lorries and vans more efficient.

Growth Studio has also launched a new programme called GS Select, which will support selected companies in getting to market across 12 months, essentially becoming their head of growth. 

Thanks for joining us and don’t forget to listen to this week’s episode wherever you get your podcasts. We hope you enjoy the newsletter and if there’s anything you’d like to see more information about, you can email us at [email protected].

Thanks for joining us and don’t forget to listen to this week’s episode wherever you get your podcasts.

What we’ve been reading this week

  • With the Bezos Earth Fund among the largest funders of the Science Based Targets initiative, there are concerns that Amazon and its founder Jeff Bezos are gaining increasing power in the carbon credits market. The SBTi came under fire earlier in 2024 for suggesting companies could rely on carbon credits to offset more than 10% of their footprint – which would have been a complete U-turn on its previous policy – sparking a huge debate in the industry on best practice. However, excessive reliance on carbon credits is a risk, as corporations may not be incentivised to genuinely decarbonise their operations.

  • The BRICS coalition may soon launch a blockchain-based payment system to reduce dependence on the US dollar. This move has the potential to shake the global economy, with positive effects on the Global South and negative ones on the Global North. Commodity prices could spike, which in turn could encourage oil-producing countries to boost sales, potentially delaying the energy transition.

  • There’s no sustainability without gender equity and equality. The UK’s innovation agency, Innovate UK, has reversed its highly contested decision to award 25 out of 50 grants promised to female founders. It had initially awarded just half of them as part of the Women in Innovation scheme, admitting this “was a mistake” and it “prioritised wrongly.”

  • Extremely hot temperatures continue to make headlines this summer, with climate scientists forecasting that 2024 will be the hottest year ever. At least, until 2025.

  • In more positive news, the UK government has allocated £15 million to an innovation hub to speed up the commercialisation of plant-based, cultivated and fermentation-made foods. As interest in alternative proteins continues to grow, it’s a smart move to support the continued development of a new industry.

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