On Tuesday, Hackquarters, the 27th of September, we held Hackquarters X | ClimateTech. During the third online meetup, we discussed the Global Perspectives of the Climate Tech ecosystem and the challenges and opportunities of being a social entrepreneur to bring together global corporates, investors, innovators, and ecosystem players for Climate Action.
The meetup started with Hackquarters Founder and CEO Kaan Akın’s speech on the details of the Program, Climate Action, and social entrepreneurship statistics. 350 startups have applied for the Program since 2020, and 31 were selected for the three batches.
According to TechCrunch, more than $40 bn was invested in ClimateTech startups in 2021. There were more than 600 deals. There are 47 unicorns in ClimateTech Globally. In 2021, 39% of the global social entrepreneurs received outside investment, where 65% raised over $250k, and 17% raised over $2 mn.
Following Kaan’s opening, Örjan Jansson, Global Programme Manager Climate Innovations at WWF, gave us a Keynote Speech: Climate Tech and Social Entrepreneurship: Why They are Necessary and New Way to Boost Scaling of Solutions.
“Human’s way of living in the world harmed the livability of our planet significantly. Humanity’s ecological footprint against Earth’s biocapacity has increased dramatically. Innovations through ClimateTech and Social Entrepreneurship are absolutely necessary because they have a high potential to reduce emissions, they can take giant leaps fast, and they are necessary to meet 1.5C targets. That’s why WWF Launches Activation Hub to Help Prevent 10 Million Metric Tons of Global Plastic Waste.”
After that, Nuno Brito Jorge, Co-founder & CEO at GoParity, took the stage: Impact Investing with GoParity. “The wealthiest 1% own nearly 50% of all global wealth, and financial illiteracy and exclusion intensify this gap even further! At the same time, we are witnessing loss of biodiversity, resource depletion, climate change, and war.$2.5T is needed to be invested annually to achieve the SDG Goals by 2030. There is a $9T in European households’ bank accounts. As the next generation comes, the willingness to allocate 50% of investments to impact increases. GoParity provides individuals with IBAN accounts, direct lending to impact projects, investment strategies, and planned savings. Citizens and companies invest their funds in projects they believe in to generate economic, social, and environmental impact. We are driving the transition towards a more sustainable and inclusive financial system, investing in sustainable solutions accessible to all, from citizens to small enterprises.
Lastly, Yvonne Rosenbaum-Afra, Co-Founder at Leaders for Climate Action Turkey, moderated the Fireside Chat: Global Perspectives for Climate Tech Startup Ecosystem and Social Entrepreneurship. Cecile Duranton, Managing Director at Time for the Planet, and Marcus Hølland Eikeland, Program Director & Partner at Katapult, were the participants. Yvonne asked, “How important do you think it is to raise awareness for practical initiatives about climate change, problems, and ClimateTech solutions?”
Cecile argued, “Creating awareness among citizens matters as they have the power to push politicians and investors to take action. In terms of politics and investments, raising awareness is of high importance. Thanks to the awareness, climatetech investments can involve much more people.
Marcus added, “We passed the awareness stage. We need action! We need entrepreneurs solving real problems. Today, governments are committing to the terms written in Paris Agreement. This opens a way for climate entrepreneurs to execute their solutions. I am quite keen on rolling out solutions tackling climate change.”
They also touched upon the effect of climate change on the other sectors.
Yvonne asked, “How do you think climate action navigates the other sectors of the economy?”
Cecille highlighted, “Today, the climate becomes the 1st priority of the sectors. We see climate precision in fashion, cosmetics, manufacturing, and services. The change starts with the biggest sectors, and they inspire all the others. Companies that do not have climate strategy for the next 20 years will not survive.
Marcus suggested, “Climate needs to be everyone’s job. Every business must take climate as its priority. There should be a tax for companies that do not have services or products tackling climate change on their agenda. Regulatory frameworks should be applied more and more. Venture capital and impact financing will play a massive role in the monetary part of climate action. It needs to be a holistic sort of fight against climate change.”