One of Europe's leading early-stage investment funds, XAnge, has launched a new European-wide Climate Fellowship to encourage more people to build businesses with a positive impact on climate change. All fellows will receive an equity investment of €100,000 and extensive support for one year. The program is supported by one of the largest pre-seed investors in the world, Techstars, and the global VC firm Energy Impact Partners.
200 million important reasons
The problems that arise from global warming and climate change are staggering. A recent report estimates that climate change could cost the global economy $178 trillion over the next 50 years. And Oxford-based researcher Norman Myers estimates that more than 200 million people may become refugees by 2050.
"VCs have a pivotal role in allocating equity to planet-positive innovation. It’s our responsibility to make capital available to those who can create disruptive and sustainable innovations. With the Climate Fellowship, we intend to accelerate the creation of new startups and coach new entrepreneurs to build successful and ambitious businesses," says Nadja Bresous Mehigan, Impact Partner at XAnge and head of the program.
While VCs usually invest in experienced entrepreneurs and startups who show meaningful traction already, the Climate Fellowship is open to anyone. Candidates will not be selected based on the quality of their project or previous startup experience, but on their drive to tackle issues related to climate change. Interested participants can apply until December 16th.
"The ideal candidate is deeply interested in climate and sustainability topics, passionate about practical applications of new technologies, and ready to embark on an ambitious journey. Ultimately, we invest in future leaders in the climate tech space," says Nadja Bresous Mehigan.
Each fellow will receive €100,000 equity SAFE funding for 7% of the capital. The program itself is designed to on impact and speed. Within twelve months, all fellows will be guided and encouraged to decide on the problem that they want to solve, find the right co-founders, get their startup off the ground and raise the first round of seed funding.
The program at a glance
- Application deadline: December 16th
- Beginning of the program: January 2023
- Duration of the program: 12 months
- Benefits: €100k in equity funding and extensive support/mentoring
- Application requirements: None! Just ambition, passion and a massive interest in the Climate Tech area.
“A climate tech entrepreneur’s first steps are usually decisive: In addition to confirming the demand and pain they aim to address, they also have to find reliable co-founders and prove to investors that they can efficiently execute together. Such profiles usually have strong tech experience but lack business acumen. The Climate Fellowship program will allow a new generation of entrepreneurs to create successful VC-compatible early-stage climate tech startups,” says Raphaele Leyendecker, General Manager at Techstars Sustainability Paris Accelerator.
Want to apply! Learn more about the program and apply here! www.climatefellowshipxange.com
For questions about the program please contact Héloïse Frantz (email@example.com).
For media inquiries please contact Sebastian Rumberg (firstname.lastname@example.org and+49 171 30 177 45).