UOB The FinLab launches The Greentech Accelerator

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UOB The FinLab has unveiled The Greentech Accelerator, a new, global programme aimed at supporting innovative greentech solution providers regionally and globally to drive their company’s sustainable mission forward. As part of the first cohort, the programme will focus on greentech solutions including energy efficiency; zero-waste supply chain; carbon management and reporting.

To help these greentech startups and SMEs grow and expand their business, the three month-long programme will include:

●      Total funding of up to SGD150,000 to tackle real-world challenge statements

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●      Insights through educational ESG (environmental, social, and governance) and business masterclasses, talks and webinars

●      Mentorship and peer-to-peer learning facilitated by UOB, the industry and institutes of higher learning and,

●      A strong network of partnerships to build an ecosystem of industry leaders

What participants can expect from The Greentech Accelerator

The Greentech Accelerator builds upon The FinLab’s Sustainability Innovation Programme (SIP) which launched last year, offering SMEs the opportunity to transform their sustainability efforts. The Greentech Accelerator will fast-track the development of sustainable technology solutions through providing access to masterclasses, industry networks and world-class mentors.

The programme will help solution-providers tackle real-world pain points from SIP participants and other SMEs to co-create solutions for partnerships and pilot projects, helping them kickstart their journey to a more sustainable business model.

Who is eligible to apply to The Greentech Accelerator

The Greentech Accelerator is open to all innovative greentech startups and SMEs with a Technology Readiness Level (TRL) of six and above, focusing on the themes of energy efficiency, zero-waste supply chain, carbon management and reporting.

The first Greentech Accelerator programme will accept ten companies for its pioneer cohort, with the goal of commercialising their solutions in order to help SMEs adopt green practices and technology. Applications are open from 5 May 2022 to 12 July 2022.

Shannon Lung, Head of The FinLab, said “According to the 2022 UOB SME Outlook Study, 45 per cent of SMEs surveyed believe having a sustainable core will benefit their business with multinational companies that are now working towards their own sustainability goals.

“However, many small businesses have raised concerns about a lack of knowledge and limited resources. The Greentech Accelerator aims to respond to this challenge by mentoring innovative greentech solutions from around the world to offer relevant, deployable and cutting-edge solutions to meet the ESG needs of SMEs and businesses locally and overseas.”