| Project Detail |
It is still possible to limit global warming to 1.5°C if all sections of the global economy significantly reduce their emissions by the end of this decade.
Technological innovations are essential to achieve this ambitious goal. Technology start-ups and venture capitalists have an essential role to play in bringing innovative climate solutions to local markets quickly.
Investments in climate technology have increased significantly in North America and Europe. However, emerging economies and developing countries are currently less attractive to venture capitalists due to the greater investment risks. These risks can be reduced if start-ups receive targeted support prior to the investment.
Objective
90 climate companies in eight Latin American countries scale up innovative business models that reduce emissions.
Approach
The initiative covers three lines of action:
1. Community and brainstorming: The initiative identifies priority areas for local climate change mitigation measures and develops innovative solutions. To this end, 36 ‘climathons’ are held in eight participating countries. There is a focus on promoting women and marginalised groups.
2. Support programmes for climate ventures: In the pre-acceleration programme, 60 start-ups develop their business models into market-ready products with high climate impact. A further 30 start-ups go through an acceleration programme to optimise their operations and existing business models.
3. Ecosystem for climate innovation: The initiative brings together start-ups, investment funds, incubators and government agencies in regional networks for climate innovation, supporting diversity, equality and inclusion in the process. It regularly checks the supported climate technology solutions for sustainable and ethical practices regarding environmental, social and corporate governance criteria. |
