16 new start-ups join the Amazon Sustainability Accelerator, supported by EIT Climate-KIC
EIT Climate-KIC, Amazon and WRAP, a leading UK climate action NGO, announce the 16 start-ups joining the second edition of the Amazon Sustainability Accelerator, following more than 1,500 applications.
The Amazon Sustainability Accelerator is a customised 12-week programme designed to assist entrepreneurs in confronting the trials of launching and expanding a sustainable business. EIT Climate-KIC will steer Accelerator attendees through a climate impact evaluation, in which they'll quantify their enterprise's climate effect, and formulate strategies to better their environmental footprint. This evaluation will calculate, project, and track the emission mitigation potential of the cohort's solutions relative to comparable products currently on the market, with the objective of proactively encouraging and assisting the start-ups in creating the most transformative and scalable solutions.
After the Accelerator, all start-ups will have the chance to present their business to a group of experienced investors to aid them in establishing connections and securing additional funding. Previous year's Accelerator start-ups garnered more than EUR 5.1 million, and saw an average increase in sales both on and off Amazon by over 250 per cent after their involvement in the Accelerator.
The growing trend of investors making decisions based on impact data sends a vital signal to businesses to adopt a proactive role in societal transformation. By arming emerging start-ups with the tools to gauge their climate mitigation potential and bolstering their capacity to think systematically, we can instigate a significant cultural shift in business perspectives, whilst aiding in the construction of the robust data that can guide investments towards transformative and scalable climate solutions. At EIT Climate-KIC, we are thrilled to broaden the Amazon Sustainability Accelerator, supporting more entrepreneurs to achieve their maximum climate impact potential.
DR. KIRSTEN DUNLOP, CHIEF EXECUTIVE OFFICER OF EIT CLIMATE-KIC
The two cohorts in the Accelerator comprise start-ups crafting more sustainable consumer products and, for the first time this year, start-ups developing technology to facilitate more effective and efficient product recycling for businesses. These were chosen by a panel of experts from the venture capital and sustainability sectors.
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