F10, a leading fintech incubator and accelerator, has announced a partnership with New Energy Nexus to launch the first global green and climate fintech program. This initiative aims to drive the decarbonization of financial services through innovative solutions.
Amidst a growing number of corporate net-zero commitments, New Energy Nexus will play a key role in the selection of startups, providing mentorship, programming, networking opportunities, and investment support.
As the fintech sector evolves with new business models and experiences, this collaboration is timely, aligning with the rising interest in sustainable finance and the green fintech movement.
Aaron McCreary, the climate fintech lead at New Energy Nexus, emphasizes the urgency of this convergence. “The intersection of digital finance and the climate crisis is significant. Climate fintech can facilitate accessible, measurable, and viable pathways toward net-zero emissions and clean energy. We are excited to collaborate with F10 to accelerate climate fintech innovations, allowing both individuals and corporations to prioritize environmentally responsible financial practices.”
The climate fintech program will enhance F10’s existing curriculum and expand its outreach through an open call for applicants in Zurich, Singapore, Madrid, and Barcelona. The application period for F10’s Zurich Incubation Batch VII has been extended from February 26 to March 9, 2021, welcoming startups focused on green and climate fintech, insurtech, regtech, and deeptech.
Andreas Iten, co-founder of F10, points out the vast potential for green and climate fintech in the market. “Working with New Energy Nexus enables us to foster an ideal environment for these innovative startups, positioning them to make a positive impact on the global financial landscape.”
Startups selected for the program will receive:
– Coverage for expenses up to CHF 15,000
– Funding of up to CHF 150,000
– Access to a comprehensive fintech and climate accelerator curriculum along with essential startup support services
– Mentorship in areas such as ESG, carbon management, and energy solutions
– Opportunities to connect with corporates focused on carbon neutrality and innovation in fintech
– A network of venture capitalists and angel investors in the fintech and climate tech sectors
In a conversation with Finextra in 2020, McCreary discussed how the California-based nonprofit has been enhancing entrepreneurial development through thematic accelerator programs globally, while also supporting the Hewlett Foundation’s climate strategy, which continues until 2023.
“Fintech has demonstrated its capacity to disrupt traditional financial environments. The real question now is how it can be leveraged specifically to reduce greenhouse gas emissions,” McCreary remarked. While the outcomes remain to be seen, the potential for fintech startups to create a significant impact is clear.
For further insights, check out New Energy Nexus’ report titled “Climate Fintech: Mapping an Emerging Ecosystem of Climate Capital Catalysts.”