Accelerator Details
Since 2017, EIT Climate-KIC and Munich Re and ERGO have supported 12 carbon removal start-ups throughout Europe.
The Carbon Removal ClimAccelerator will support technological and nature-based solutions such as afforestation, direct air capture, biochar, and bioenergy-based carbon capture and storage. Selected start-ups will receive training, finance, mentorship, and access to networks.
The programme is delivered by Tangent, Trinity’s Ideas Workspace, providing the professional resources and knowledge such as the training, financing, and networks that businesses need to successfully expedite and scale their climate-positive solutions. Possibility for entrepreneurs to be mentored by Munich Re and ERGO experts.
During our seven-month programme, participants can expect to engage with our first-rate network of commercial domain experts, international industry partners who need net-zero solutions and investors (venture, private equity and debt) and alumni.
We provide commercial and strategic support combined with tailor-made accelerator programme that is carbon removal focused.
The programme is a combination of workshops, coaching and learning from your peers. It is a proven model that has supported over 1000 young European businesses since 2011.
Accelerator Programme Stages
Evaluation Process Stage 1
The evaluation process comprises of two phases:
- Reading Jury: an assessment of your start-up documentation
- Video Pitch: only shortlisted startups will be invited to share a pre-recorded 5-min video pitch via a private link that will be assessed by our jury members.
Up to 20 companies may be selected to participate in Stage 1.
Stage 1: Business Fundamentals
Help entrepreneurs translate climate aligned, carbon removal innovations into viable, scalable businesses/ business lines. Focus on your customer and how to get your product into their hands. Which niche are you serving? Which problem are you solving? Figure out how to make money and scale up your business using a solid financial model. Stage 1 will give you a clear vision of creating the highest value with limited resources.
Outcome
The start-ups have got support for the following characteristics:
- A business model hypothesis based on customer interviews
- A pitch and basic business plan
- An understanding of all fundamental theories when starting a climate start-up
- Have a need for support with the practical validation of their solution
Format
- 9 Weeks online, part-time (approx. 6h per week)
- Regular training sessions on set topics
- Individual coaching as required
- Peer-to-peer learning events and forums
- Meet policy, corporate and investor at workshops/ events
Fundamental topics include:
- Business models
- Products
- Team
- Finance
- Legal
- Fundraising
- Marketing
- Pitching
Evaluation Process Stage 2
After an interim commercial evaluation, based upon a video pitch with clear outputs, 8 companies will be invited to participate in Stage 2 where they will each receive grant funding of €10,000.
Stage 2: Business Validation, Traction & Investment Readiness
Help start-ups and SMEs translate business plans into concrete value propositions. Get out there and validate your business assumptions by talking to potential customers. We provide you with the skills and tools you need to conduct good interviews, to see through all the false positives and to build your business on real insights. After validation, you’ll be better able to choose your markets and grow by addressing real customer needs. By validating your core value proposition, it will help your business attract capital to scale and grow.
Outcome
At the end of this accelerator stage, we will have 8 start-ups with the following characteristics:
- A validated business model and roadmap based on a pilot and / or customer and end-user meetings
- A full business plan
- A clear understanding of the cap table, including equity distribution between founders and investors
- An independent product, service, or solution that is ready to integrate into complex operational systems and thus help scale the business
- An innovation implementable by multiple end users
- A climate impact hypothesis that considers the holistic impact assessment
- Climate Impact Workshop
Format
- 18 weeks online and part-time
- Regular training sessions on set topics
- Individual coaching as required to support weekly topics
- Expert pool for on-demand mentoring
- Peer-to-peer learning events and forums
- Meet policy, corporate and investor at workshops/ events
Stage 2 topics include:
- Customer mapping
- Validation
- Story-telling and vision mapping
- Customer traction / piloting
- Investor-readiness (investment and finance strategies and tools)
- Assessing Customer Acquisition Strategy
- Financials – Investor Readiness
- Communications and Brand Awareness
Frequently Asked
Questions
Start-ups and businesses that are at MVP stage, ideally revenue generating (or not far off) and looking to develop and scale their solutions to reduce CO2 emissions globally.
Anywhere, but bear in mind that programme activities will be scheduled according to Central Europe standard time (CEST).
Your company must be incorporated or registered as a trading entity, or at least be at the end of the registration process.
No problem, just send an email to Breandán Goss: EITAPP@tcd.ie
We are keen to work with entrepreneurs and SMEs with carbon removal solutions that address natural strategies like tree restoration and agricultural soil management; tech strategies like direct air capture and enhanced mineralization; and hybrid strategies like enhanced root crops, bioenergy with carbon capture and storage, and ocean-based carbon removal.
This is not an endless list – so if you have a solution that you believe could contribute to the removal or sequestration of carbon and that can effect change quickly, please submit your application.
