NovaUCD, PTSB launch energy accelerator for startups

NovaUCD and PTSB have launched the Energy Futures Accelerator Programme for early-stage Irish start-ups in climate technology and renewable energy.

The programme will offer mentoring and financial advisory support to companies developing businesses in sustainability-related markets. NovaUCD will contribute its experience in innovation and start-up development, while PTSB will provide banking and business advice.

Applications are due to open in the autumn, and the programme is scheduled to begin in early 2027. The scheme is intended to help young companies strengthen their commercial prospects and expand beyond Ireland.

The announcement coincided with a second PTSB initiative: a €250 million Impact Lending Fund for business customers investing in projects with environmental or social goals. The fund will support small and medium-sized enterprises in areas including sustainable energy, sustainable agriculture, healthcare and female entrepreneurship.

Eligible businesses will be able to apply for lending for projects such as renewable energy, energy efficiency measures, sustainable transport and agriculture. The fund will also be open to businesses focused on healthcare and education services, female-led and inclusive firms, and projects aimed at creating jobs and supporting local economic development.

Dual push

The combined launch reflects growing competition among lenders and start-up support organisations to position themselves around the energy transition and sustainability-focused investment. It also highlights continued efforts in Ireland to build more structured support for young companies in climate and renewable sectors, where access to finance and commercial guidance can be difficult at an early stage.

PTSB linked the launch of the lending fund to findings from its Reflecting Business Report 2026, which surveyed 515 businesses. The research found that 57% of Irish SMEs believe the economy will improve over the next 12 months, up from 24% a year earlier, while 68% expect conditions for their own business to improve, compared with 31% previously.

The report also found that 82% of businesses expect to grow over the coming year, up from 45% in 2025, while only 1% anticipate a decline. Sustainability featured strongly in the responses, with 72% identifying it as a leading commercial growth opportunity, up from 28% a year earlier.

That shift was accompanied by a sharp rise in plans for energy efficiency upgrades and other sustainability projects. According to PTSB, 62% of businesses reported such intentions, compared with 33% in 2025, as smaller companies respond to energy price volatility and wider pressure to manage operating costs.

Even so, the survey suggested confidence remains tempered by persistent constraints. Businesses cited higher goods costs, inflation and turbulence in the global economy as the main barriers to growth.

For NovaUCD, the programme adds to a wider network of start-up and innovation activity centred on University College Dublin. The organisation works with high-technology ventures and also manages related university commercialisation and industry partnership functions.

Liam Cronin, Director of Innovation at University College Dublin, said: "We are very pleased to be partnering with PTSB, as part of our corporate engagement strategy, and to announce the launch of the exciting new Energy Futures Accelerator Programme. The focus of this dedicated programme, delivered by NovaUCD in collaboration with PTSB, will be to support emerging and young Irish start-ups, focused on addressing key climate and sustainability challenges, to fast-track their commercial viability to meet their global ambitions, drawing on UCD's expertise in this area including the UCD Energy Institute. Applications for the programme will open this Autumn and the programme is planned to commence in early 2027."

PTSB said demand from businesses for financing linked to sustainability and social outcomes has been increasing. The bank is using the new fund to target companies making investments that can meet both commercial and impact-related criteria, subject to standard lending requirements.

"The launch of our €250 million Impact Lending Fund is a significant milestone for PTSB and reflects our ambition to deepen our support for Irish SMEs. We know that businesses increasingly see sustainability not just as a responsibility, but as a commercial opportunity. Through this fund, we want to help businesses invest in projects that deliver positive environmental and social impact while supporting their future growth and competitiveness. PTSB is already seeing strong and growing demand from businesses in this area, and we expect this trend to continue in the years ahead. We are also delighted to partner with NovaUCD to launch the Energy Futures Accelerator Programme, helping emerging businesses maximise new opportunities for growth as demand for sustainable solutions continues to increase," said Patrick Farrell, Chief Retail Banking Officer at PTSB.