Lambeth Council has nurtured Europe’s largest climate tech hub
The London borough’s £1.5m investment has helped transform County Hall into a future-proof home for 500 eco-aligned startups.
The facility, now known as Sustainable Ventures, is now Europe’s largest climate tech hub, and plans are underway to help develop more than 1,000 individual sustainable SMEs by 2025.
Comprising a 40,000 square foot flexible workspace overlooking the River Thames, the building was formerly the headquarters of the Greater London Council. Climate businesses are now housed on the reconfigured and redeveloped fourth floor, with a number of leading firms establishing themselves through the site. These include ENSO, a cleaner tyre manufacturer which was a finalist in the 2023 Earthshot Prize.
The overall economic impact of Sustainable Ventures has already been huge. Of the 500 companies involved, more than £1billion in funding has been raised, creating over 5,500 jobs in the green economy. Lambeth Council, which was the UK’s first local authority to declare a climate emergency in 2019, has invested £1.45million from an £8million Future Workspace Fund it launched to provide affordable, supportive and accessible places to do business.
£4million in match funding was also secured by Sustainable Ventures to realise its flagship HQ, which is now home to agritech, building technology, and mobility companies, among other sectors. In addition to the physical space, tenants benefit from investment opportunities and industry-specific expertise, alongside connections to a vast network of potential collaborators and climate-minded innovators. The facility has also run support programmes for businesses through its Economic Resilience Fund, linking its own pioneering firms with organisations such as he National Theatre and Kings College Hospital.
‘The partnership between Lambeth Council and Sustainable Ventures has created lots of opportunities in the borough and really highlights Lambeth’s commitment to fostering climate tech innovation and sustainable solutions. Sustainable Ventures is the perfect partner to deliver on this, being Europe’s largest climate tech hub, and we’ve already nurtured 40 such startups in the borough during the last 2 years,’ said Lambeth Cllr Dr. Jacqui Dyer, MBE ‘Through our support we greatly increase the opportunity for growth of these startups – and as a result bring more investment and job opportunities into the borough.’
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Image: Doyle of London