Denmark, followed by Israel, Sweden, Finland and the US provide the best conditions today for clean technology start-up creation, according to the first Global Cleantech Innovation Index.
FEBRUARY 27, 2012 — LONDON — Today, Cleantech Group and WWF publish Coming Clean: The Global Cleantech Innovation Index 2012. The report looks at where entrepreneurial cleantech companies are growing today, reasons as to where they will spring-up over the coming years, and which countries are falling above and below the curve for fostering cleantech innovation.
Thirty-eight countries were evaluated on 15 indicators related to the creation and commercialisation of cleantech start-ups, generating an index measuring each one’s potential, relative to their economic size, to produce entrepreneurial cleantech start-up companies and commercialise clean technology innovations over the next 10 years.
“The global macro-economic landscape is shifting; fostering entrepreneurial start-ups and growth companies with clean technology solutions will be an increasingly important part of countries’ competitiveness on the world stage” said Richard Youngman, Managing Director Europe & Asia, Cleantech Group.
The four top scoring countries were Denmark, Israel, Sweden and Finland. These countries all have small economies and while they are the source of much innovation, they have less ability to scale-up companies. These small countries need innovative approaches and collaboration to compensate for the lack of large domestic markets and inconsistent availability of finance throughout a company’s life-cycle.
“This index shows that several countries are on the right track, but clearly much more needs to be done if we are to properly address climate change and achieve a transition towards a global 100 percent renewable future,” said Samantha Smith, leader of WWF’s Global Climate and Energy Initiative.
“The overwhelming majority of capital required for making the transition to a low-carbon future will come from a variety of private sources. Developing a working recipe for strengthening the flow of public-private finance towards early as well as later stage cleantech is key for countries that want to taste the economic success of cleantech,” she added.
North America and northern Europe emerged as the primary contributors to the development of innovative cleantech companies.
The US placed fifth in the Index. However in absolute terms, without factoring in economic size, the United States leads in many measures of cleantech innovation: the country has the greatest public cleantech R&D budget, the greatest number of cleantech start-ups and investors, as well as the most venture capital, private equity, and M&A deals in cleantech.
However, the Asia Pacific region performs well when it comes to scaling up entrepreneurial cleantech companies to wider commercial success and revenue creation.
Whilst currently seeing fewer emerging cleantech start-ups and placing 13th, China leads in cleantech manufacturing, is strong in early-stage growth, and shows potential to produce more early stage innovation in the future.
The country is rapidly gaining access to funding due to success in raising money for cleantech-focused funds. Additionally, China has been home to the majority of cleantech IPOs since 2009, many of which listed on the recently established ChiNext board of the Shenzhen stock exchange.
Similarly, India scores 12th but is performing well in fund raising towards Cleantech focused funds and has much activity in later stage Cleantech companies.
Coming Clean: The Global Cleantech Innovation Index 2012 is available as a free download from Cleantech Group at http://info.cleantech.com/2012InnovationIndex.html.
A free webinar, The Global State of Cleantech, discussing the findings is scheduled for February 28, 2012 at 9am GMT as well as 6pm GMT. Register at http://info.cleantech.com/CleantechIndexWebinar.html
About Cleantech Group
Cleantech Group’s research, events and advisory services accelerate market adoption, stimulate demand, and remove barriers to cleantech innovation. A global company with offices in North America and Europe, we connect business leaders with cleantech innovation through the i3 Platform, the most comprehensive, vetted, up-to-date source for insights into companies, investors, financing and relationships across the clean technology ecosystem. Cleantech Group also produces the premier Cleantech Forum® and Focus™ events worldwide. Details are available at http://www.cleantech.com.
WWF is one of the world’s largest and most respected independent conservation organizations, with over 5 million supporters and a global network active in over 100 countries. WWF’s mission is to stop the degradation of the earth’s natural environment and to build a future in which humans live in harmony with nature, by conserving the world’s biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption. www.panda.org for more news and resources
For more information, please contact
Whitney Bennett Michael, Senior Director of Marketing, Cleantech Group, firstname.lastname@example.org, +1 415 233-9711 @whitneym
Stefan Henningsson, Senior Adviser Climate Innovation, WWF International, +46 70 57 99 291, email@example.com, Twitter: shenningsson
Barbara Evaeus, Manager Climate Communications, WWF Sweden, Barbara.firstname.lastname@example.org, +46 70 393 90 30
Phil Dickie, WWF international, email@example.com +41 79 703 19 52