Sustainable Melbourne Fund (SMF) today announced a Christmas drive to attract innovative Australian businesses seeking investment capital. In a market where investors are keeping their wallets closed more often than open, SMF invests up to $500,000 on initiatives or technology that deliver environmental benefits to Victorians.
“If you are an environmental innovator with a commercialised product or service, we’ll put money on the table next to the pudding this Christmas,” said Chief Executive, Scott Bocskay.
SMF has over ten years of experience investing in sustainability projects, catering for a niche market of new business owners and entrepreneurs who are seeking co-finance or 100% funding to get their idea off the ground.
“The three main areas we invest in are renewable energy, energy efficiency and greener buildings.”
“We actively look for investments that are too small for the big funds,” said Mr Bocskay. “We don’t take an equity position, keeping ownership in the hands of the business owners.”
SMF has a 100% success rate of catapulting emerging ventures forward into the marketplace with economic, environmental and social returns to Australian businesses and communities.
EKO Energy started as a cooperative model to getting cost prohibitive solar onto a Blackrock community’s rooves before growing to be a thriving business employing over 50 people. In 2001, it was bought by AGL and rebranded AGL Solar.
Yann Burden, chief executive of Billcap – another SMF funding recipient – said SMF brought a pragmatic approach to the investment process. The partnership has led to customers being more engaged and higher retention of energy retailers.
“Their team is open to new ideas and is genuinely passionate about sustainable investment,” said Mr Burden. “SMF allowed us to take our business to the next level.”
Mr Bocskay said SMF acts as a catalyst for businesses to overcome early stage barriers to market development and growth. The fund uses market-based mechanisms to meet the challenges of climate change.
“It feels good to make a difference this Christmas.”
Photo credit: Travel Nine MSN
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