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Sainsbury’s gives green light to sustainable start-ups with £5 million investment
Sainsbury’s has announced the launch of its Innovation Investments scheme, which will invest a minimum of £5 million over the next four years into start-up businesses which focus on sustainability.
The Big 4 grocer revealed, as part of its Sainsbury’s Innovation Investments launch, it will invest in firms which are commercialising sustainable technologies that look to reduce operational carbon emissions and water usage.
As part of their ongoing partnership with Williams Advanced Engineering (WAE), the supermarket giant will scout and invest into early-stage companies, not limited to the Sainsbury’s supply chain, across a range of sectors.
The first investment is expected to be announced before the end of 2022.
READ MORE: Sainsburys launches programme for Black-led start-up businesses
Sainsbury’s has already reduced its impact on the environment, having cut its carbon emissions in its own operations by 7% year-on-year and 20% from its 2018/19 baseline.
“We are committed to reaching our Net Zero target of 2035 and are proud to be doing our part in leading the way to create solutions that will reduce carbon emissions and water usage not just in our stores, but across the entire sector,” Sainsbury’s property and procurement director, Patrick Dunne said.
“Tackling an issue of this scale requires collaboration and we’re really excited to not only invest in these businesses, but also provide a pathway to in-store use, working towards a more sustainable future for everyone.”
In addition to providing much needed investment, Sainsbury’s is looking to accelerate dynamic start-ups and Small/Medium Enterprises (SMEs) in developing, testing, and deploying transformational technology that can reduce carbon emissions and water usage.
Williams Technology Ventures director, Matthew Burke, added: “Embracing new and unproven technologies is a necessary requirement to meet Net Zero and many of these products and services will emerge from the technology start-up community.
“With WAE’s focus on sustainability, and expertise in technology and engineering combined with early-stage technology investing, we are delighted to be supporting Sainsbury’s journey to Net Zero with the launch of this unique investment initiative.”
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