Local innovator shortlisted by RBS in national search for new ‘green’ ideas

A local innovator with a brilliant new idea for saving energy has been shortlisted for the RBS Innovation Gateway.

GreenspaceLive submitted their ground-breaking idea after RBS called on innovators and small businesses (SMEs) to come forward with new eco-ideas for the bank’s 2,500 buildings around the UK.

GreenspaceLive is one of the first companies to make it onto the shortlist.

Donald Macritchie, GreenspaceLive Managing Director, said: “This is excellent news for our company and validates all the development that has taken us to this stage.

“It is good to be recognised as part of this innovation gateway as we continue to take our innovative approach to energy efficiency to the market.”

GreenspaceLive, which is based in Stornoway in the Western Isles, was established in 2012 as a spin-out from the University of the Highlands and Islands (UHI).

Mr Macritchie continued: “We felt there was a need to bring innovative solutions to energy analysis of buildings. This solution is a web based platform with cloud storage and full collaboration capabilities for building professionals.

“The product range has been exposed to the market with early evidence of market traction and further product development is ongoing.”

The RBS Innovation Gateway, which is led by Marcela Navarro, Head of Customer Innovation at RBS, has three aims: to help RBS save more energy, water and waste; to nurture new, brilliant innovations, and to help local inventors take their ideas to market.

GreenspaceLive was one of over 140 companies from across the UK who submitted an idea to the RBS Innovation Gateway when the bank launched the project in March this year.

Their idea went before an independent panel of experts put together by RBS, including academics from Cambridge University and business leaders from major companies such as Carillion, who assessed each idea and decided which ones had made it onto the shortlist.

If successful, the next step for market ready ideas will be a trial on the RBS estate, including buildings and branches. All successful concepts will receive a grant to develop their ideas further.

“As you develop a new product it is important for us to gain access to potential customers who will give feedback on our innovation,” added Donald Macritchie. “The Gateway is already giving us visibility in terms of new clients and we need to build these relationships as we continue to develop the products to suit the needs of customers.”

The shortlisted companies like GreenspaceLive will now receive a huge range of support from RBS including:

Testing and rolling out their idea on up to 2,500 RBS properties

£3,000 grant for winning concepts and paper-based ideas

Expertise to help accelerate their innovation to market

Practical support and insights from the RBS Innovation Panel

Access to the RBS Property Team and online events

Connecting and collaborating with other leading innovators.