GreenFin Research

Sustainable financial growth for cleantech and nature positive

About us

The growth of Green Finance

Access to finance for start-ups and SMEs, particularly those who are involved in the cleantech and nature positive biodiversity nature-tech sectors is increasing. This is due to the emphasis on environmental protection and renewal within UN Sustainable Development Goals and the drive to meet the twin aims of Climate and Biodiversity for a more sustainable society and planet.

About us

Established within Middlesex University (MU) Business School, GreenFin brings together a powerful coalition of leading researchers from business, management and finance, biodiversity and natural sciences and computer sciences technology disciplines. Our network is broadened by inter-disciplinary ties to entrepreneurial finance and sustainability across MDX Faculties.

Our Research

Our Research

Our goal is to combine high-quality research and develop cutting edge insights to enhance understanding of green and sustainable financing processes and their impacts.

Our work includes major contributions to the ESRC-funded Centre for Understanding Sustainable Prosperity (CUSP). We have undertaken multiple government evaluations for UK and international Government Departments, including the UK Department for Business and Trade, Republic of Ireland Department for Enterprise, Trade and Employment, Innovate UK and British Business Bank. We have also delivered high-level grant reports, written high impact journal articles and steered the publication of major journal special issues.

Current projects include:

Recently completed projects

  • 2024 Study of English SME’s Access to Green Debt Finance, MDX RFF project
  • 2023-24 Evaluation of Early Equity and Scaleup Finance in Republic of Ireland. Report for DETE and Enterprise Ireland
  • 2023 Demand for external finance by environmentally-motivated SMEs: An exploration of geographical disparities and potential in relation to Net Zero. London. Grant report to the UK Enterprise Research Centre (ERC)
  • 2023 Sustainable SME Freight and Logistics, MDX HEIF project
  • 2022 SME Financing for Biodiversity: Building Nature Measurement and Impacts into SME Financing (‘SME FinBio’) Client - Natural Environment Research Council (NERC) & Finance for Biodiversity (F4B)
  • 2021 UKEFF Cleantech finance toolkit project
  • 2021 Green Finance for Building Back Better conference
  • 2020 Redefining SME Productivity Measurement and Assessment for a Low Carbon Economy. Client – ESRC Productivity Insights Network (PIN)
  • 2018-2019 An econometric analysis of public support for innovation on business outcomes, for BEIS
  • 2018-2020 Evaluation of the Investment Accelerator Programme for Innovate UK (UKRI)
  • 2018-2021 National Evaluation of the English European Regional Development Funds (ERDF) for MHCLG
  • 2018-2022 Early Assessment and Interim Evaluation of Regional Investment Funds, for British Business Bank
  • 2017-2022 Early Assessment and Interim Evaluations of Loan Pilots Scheme, for Innovate UK
  • 2020 project on development of sustainability reporting model (a self-evaluation tool for corporates), in collaboration with committee of business responsibility reporting of the Ministry of Corporate Affairs (Report)
Postgraduate Research

Postgraduate Research

GreenFin welcomes applications for PhD and DProf study on any aspect of green finance and sustainable financing – particularly in relation to sustainable financial growth and access to finance for start-ups and SMEs involved in the cleantech and nature positive biodiversity nature-tech sectors. 

PhD Students

  • Shan Wang - The effectiveness of Social Investment Tax Relief in helping social enterprises' in raising finances during the start-up stage.
  • Nia Nejatali - Sustainable asset management in the built environment.
  • Giannis Mylopoulos - The key role of venture studio model. Positioning the genesis of SSPVC model, an impactful venture metric assessment methodology. A critical perspective through European venture studio approach leading to innovative performance. Supervised by Dr Yannis Pierrakis with Prof Owen, Advisory PhD supervisor role University of Catalonia.

Postgraduate Teaching/CPD

Business and Enterprise for Sustainable Prosperity as part of MSc Sustainable & Environmental Management.

Our partners

Our partners

Central to the work of GreenFin is close collaboration with a wide range of partner organisations to generate impactful research.

Events

Events

Forthcoming events 2025

  • MDX SME Nature Positive Finance Green Accelerator Bootcamp start event, 16 January, 2025
  • GreenFin SME Green Finance International Symposium, 4-5 February, 2025. For details contact [email protected] or [email protected]
  • MDX NP SME Accelerator Pitching Event, Central London, May 2025
  • MDX GreenFin and Birmingham City University annual conference, June 2025
Our outputs and activities

Our outputs and activities

Recent publications include:

  • Mukherjee, A., Owen, R., Scott, J. M., & Lyon, F. (2024). Financing green innovation startups: a systematic literature review on early-stage SME funding. Venture Capital, 1–27. https://doi.org/10.1080/13691066.2024.2410730
  • Gottschalk, S., Owen, R. and Coban, I. (2024) Are English SMEs disadvantaged in accessing Green Finance? A study of UK (bank and non-bank) debt finance provision. Report by GreenFin and MDX NERC IFB programme and CUSP https://cusp.ac.uk/themes/finance/report-mdx-greenfin-smes/
  • Roper, S. and Owen, R. 2024. Understanding equity access and use in early-stage ventures. Coventry, UK Enterprise Research Centre (ERC). https://repository.mdx.ac.uk/item/176465
  • Owen, R., Botelho, T., Mac an Bhaird, C., Hussain, J., Pierrakis, Y., Scott, J. and Lodh, S. 2023. Editorial entrepreneurial finance for green innovative SMEs. IEEE Transactions on Engineering Management. 70 (3), pp. 942-949. https://doi.org/10.1109/TEM.2022.3224870 https://repository.mdx.ac.uk/item/8q4wx
  • Owen, R. and Vedanthachari, L. 2023. Exploring the role of U.K. Government policy in developing the university entrepreneurial finance ecosystem for Cleantech. IEEE Transactions on Engineering Management. 70 (3), pp. 1026-1039. https://doi.org/10.1109/TEM.2022.3153319 https://repository.mdx.ac.uk/item/89v79 
  • Owen, R. 2023. Lessons from government venture capital funds to enable transition to a low-carbon economy: the U.K. case. IEEE Transactions on Engineering Management. 70 (3), pp. 1040-1054. https://doi.org/10.1109/TEM.2021.3094992 https://repository.mdx.ac.uk/item/89738
  • Gottschalk, S. and Owen, R. 2023. Demand for external finance by environmentally-motivated SMEs: An exploration of geographical disparities and potential in relation to Net Zero. London, UK Enterprise Research Centre (ERC). https://repository.mdx.ac.uk/item/q4yq8 
  • Owen, R., Vedanthachari, L. and Hussain, J. 2023. The role of the university entrepreneurial ecosystem in entrepreneurial finance: case studies of UK innovation knowledge centres. Venture Capital. https://doi.org/10.1080/13691066.2023.2205606 https://repository.mdx.ac.uk/item/8q613 
  • Elf, P. and Owen, R. 2023. Developing Brazil's sustainable finance entrepreneurship ecosystem: The role of keystone actors and institutional logics. in: Hussain, J.G., Salia, S. and Scott, J.M. (ed.) Entrepreneurial Financial Resilience and Financial Innovation in a Turbulent Era Edward Elgar Publishing. pp. 190-207 https://repository.mdx.ac.uk/item/q591v 
  • Lyon, F., Elf, P., Owen, R. and Werner, A. 2023. Finance and funding for upscaling sustainable fashion. in: Charter, M., Pan, B. and Black, S. (ed.) Accelerating Sustainability in Fashion, Clothing and Textiles London Taylor & Francis (Routledge). https://repository.mdx.ac.uk/item/12w791 
  • Owen, R., Brennan, G., Lyon, F. and Harrer, T. 2021. Financing Cleantech SME innovation: Setting an agenda. IEEE Transactions on Engineering Management. 68 (4), pp. 1168-1172. https://doi.org/10.1109/TEM.2020.3005702 https://repository.mdx.ac.uk/item/890z8 
  • Owen, R., Brennan, G. and Lyon, F. 2018. Enabling investment for the transition to a low carbon economy: government policy to finance early stage green innovation. Current Opinion in Environmental Sustainability. 31, pp. 137-145. (Over 300 citations) https://doi.org/10.1016/j.cosust.2018.03.004 https://repository.mdx.ac.uk/item/89532

  • 18.09.2024 - CILT Event Online: Can Driving Environmental Change in Road Freight Pay Dividends? Presentation by Dr Burnett and Prof Owen to Chartered Institute for Logistics and Transport (CILT)
  • 15.07.2024 - GreenFin researcher Prof Owen invited panel speaker for Wolverhampton University’s symposium on West Midlands SMEs and sustainable AI.
  • 09.07.2024 - West London chamber of Commerce UK Ecnomic Forecast event with Bank of England and keynote presentations by Prof Owen and Nick Lythe of Green Angel Syndicate relating to the need for UK SME green innovation investment from the new Labour Government.
  • 05.07.2024 - MDX GreenFin and Birmingham City University co-sponsored NERC, ISBE one day conference at BCU: Biodiversity Net Gain and Green Finance for SMEs: A Midlands Perspective. Contributions from Prof Owen, Dr Burnett and Dr Gottschalk.
  • 20.06.24 - MDX, GreenFin and NERC IFB programme Nature Positive Accelerator Pitching Event, held at MDX Boardroom. 
  • 27.03.2024 - Prof Owen keynote presentation on UN SDGs use by SME environmental impact innovation investors to University of Greenwich symposium.
  • 15.03.2024 - MDX, GreenFin and NERC IFB programme event: Towards a Successful UK SME Nature Positive Finance Market. With major contributions from Prof Owen, Dr Burnett, Dr Werner and Prof Lyon. 
  • 24.11.2023 - UK SME Green Innovation Ecological Services Solutions for Finance Markets, at Fox Williams LLP, central London. Presentations by Prof Owen, Dr Burnett, Prof Lyon and Dr Werner.
  • 16.11.2023 - Enterprise Research Centre and Department for Business and Trade Longitudinal Small Business Survey research dissemination event at the Shard. Presentation by Dr Gottschalk on the demand for external finance by environmentally motivated SMEs.
  • 8-10.11.2023 - Two papers by MDX GreenFin researchers at the ISBE annual conference in Birmingham. Presentations by Prof Owen on SME Nature Positive innovation financing in the UK and Dr Burnett on regenerative value and re-localised ad inclusive enterprise.
  • 18.10.2023 - West London Chamber of Commerce sustainable trade with New Zealand event with Jonathan Porritt. Keynote presentation by GreenFin NERC IFB researchers Prof Owen and Dr Burnett.
  • 05.07.2023 - Westminster Business Forum Next Steps to Achieving Green Economic Growth event. Presentation by Prof Owen on the meeting the policy challenges for financing UK SME green innovation.
  • 01.06.2023 - University of Angers, France, SME sustainable Innovation Finance conference. Prof Owen delivered a keynote presentation on SME Nature Positive innovation finance in the UK to an audience including local representatives of ADEME and Bpifrance.
  • 13.03.2023 - Energy Savings Trust Local Authority Climate and environmental Action event. Prof Owen presented a keynote on ‘Financing SME Greening: UK Business and Policy Evidence and Role for Local Authorities’.
Our staff

Our Staff

GreenFin Leads

Professor Robyn Owen
Professor of Entrepreneurial Finance

Dr Sylvia Gottschalk
Senior Lecturer in Economics

Cluster Staff

Professor George Dafoulas
Professor of Information Systems & Business Computing

Dr Amy Burnett
Research Fellow in Sustainable & Inclusive Enterprise

Dr Patrick Elf
Associate Professor in Sustainable Business

Dr Ignatius Ekanem
Senior Lecturer in Business and Management

Dougal Fleming
Consultant at Green Business Team

Shan Wang
Senior Lecturer

Dr Joanna Kitching

Pamela Macaulay
Administrator

 

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Address

CEEDR 
Middlesex University Business School 
The Burroughs 
Hendon 
London NW4 4BT 
United Kingdom 
fax: (+44) (0) 20 8411 6607