Climate Solutions Prize awards $1.3m to Israeli climate tech startups

Climate Solutions Prize awards $1.3m to Israeli climate tech startups

Published: 01-03-2024 14:22:00 | By: Pie Kamau | hits: 1708 | Tags:

An amount of $1.3 million was awarded to Israeli climate tech startups as part of the startup track of the Climate Solutions Prize (CSP), an initiative that incentivizes climate innovation to address the global climate crisis. The startup track was led by Startup Nation Central together with Climate Solutions Prize Organization.

Jeff Hart, Executive Chair, Climate Solutions Prize: "With the objective of channeling Israel's ingenuity to tackle one of the biggest challenges of our times, the Climate Solutions Prize is the largest incentive prize in Israel's history. It aims to be a catalyst for climate tech innovation in both breakthrough research and the startup ecosystem. It is vital that we mobilize and inspire the best efforts and best minds so that we can proudly leave a better world for future generations to come."

The Startup Track prizes include the premier flagship Equity Investment of $1 million from Capital Nature as well as a roadshow to Singapore from Temasek Foundation, an investment and incubation process with ESIL, and engagements with corporate business units from Continental, E.ON, Italgas and Takeda to Israeli early-stage startups developing innovative climate tech technologies.  In addition, Amazon Web Services and Deloitte offered market access and professional support to the startups in this initiative.

Avi Hasson, CEO, Startup Nation Central: "As a recognized leader in developing advanced solutions to global challenges, Israel is extremely well-positioned to take a central role in battling climate change and bringing solutions to the biggest shared challenge of our times. The initiative, designed to award the best and brightest climate tech startups throughout Israel, provides access to investment, partnership opportunities with global MNCs, and exposure at COP28 to global solution seekers, to promote scalable, sustainable solutions to pressing environmental challenges."

Thomas Birr, Chief Strategy and Innovation Officer at E.ON: "Along the way we've learned that the approach of collaborating with startups is more successful than trying to find them ourselves. To bridge the culture gap between startups and corporations, we've learned that you need an ambassador in the company who speaks both languages. That's why we have people in palo alto or in Tel Aviv. We continue to put our trust in Israel's high-tech ecosystem."

The 2023 Israeli Climate Tech Landscape Map details leading companies with solutions addressing the climate crisis. A full report on the activity of the climate sector in Israel is available here. The Breakthrough Research Prize track was awarded in January to three Israeli research teams to propel their work on promising solutions to the climate crisis.