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Applications are now open for startups to join the first C2V accelerator cohort, which will run from May - November 2021. Startups selected to participate in the program will have the opportunity to engage with the Carbontech Leadership Council, an invitation-only group of executive leaders across diverse industry sectors driving the future of carbontech.
The Urban Future Lab at New York University-Tandon, Greentown Labs, and the Fraunhofer USA TechBridge Program recently announced the launch of the Carbon to Value Initiative (C2V Initiative), a unique partnership driving the creation of a thriving innovation ecosystem for the commercialization of carbontech — technologies that capture andconvert carbon dioxide (CO₂) into valuable end products or services. The C2V Initiative is supported by the New York State Energy Research and Development Authority (NYSERDA) and the Consulate General of Canada in New York. The C2V Initiative’s best-in-class, multi-stakeholder acceleration program is requesting applications for its first cohort from startups seeking to rapidly commercialize and scale carbontech innovations.
According to scientists, reducing greenhouse gas emissions alone will not be enough to keep global warming below an average of two degrees Celsius globally. More than 100 gigatons ofcarbon, in the form of carbon dioxide, must be removed from the atmosphere by 2050.These efforts will be particularly important in hard-to-decarbonize industries, such asconstruction materials and agriculture. Analysts predict that carbontech could comprise atrillion-dollar market opportunity, in sectors as diverse as fuels, cement production, industrial gases, chemicals and polymers, and new materials. However, the carbontech industry is still nascent, and many promising solutions will not be cost-effectively scaled in the time frame necessary without support for their expedited development.
The C2V Initiative uniquely combines a best-in-class partnership accelerator program with exclusive access to industry leaders shaping the carbontech marketplace of tomorrow. Startups selected to participate in the program will have the opportunity to engage with the Carbontech Leadership Council, an invitation-only group of executive leaders across diverse industrysectors driving the future of carbontech. Startups will gain market insights and explore potential partnerships with CLC members and others with the potential to unlock this trillion-dollar market. Specifically, startups will have the opportunity to hear firsthand from CLC members about their carbon tech strategies, to present to them directly, and to access individuals and market knowledge from within the participating corporations.
Opportunity is About:
Candidates should be from:
Description of Ideal Candidate:
- Innovation Scope: Potential applicants must demonstrate through a competitive RFP process that the technology, product or service is not only scalable, but incorporates captured carbon as the major input for an overall carbon neutral or carbon negative impact.
- Below is a non-exhaustive list of example technologies, sectors, processes, andservices that will be in scope for the first cohort of the C2V Initiative.
- Carbon Capture — Direct air capture (DAC), point source capture, andcapture from non-gaseous carbon waste streams
- Carbon Storage — Soil carbon storage, mineralization, reforestation, andgeologic or oceanic sequestration
- Carbon Transformation — Electrochemical, photochemical, thermochemical, bio-catalyzed, or photosynthetic processes to transformwaste carbon
- End Products made from waste carbon — Fuels, building materials, chemicals, and advanced materials
- Business Model Innovation — Including financing, market making, andlogistics
- Note: These categories are not exhaustive. Startups with a novel carbontech innovation are encouraged to apply even if their technology is not listed above.
- Technological Maturity: Startups must have at least a component and/or breadboard validation in a laboratory environment (e.g., TRL 4 and above)
- Commercial Maturity: Startups that are actively investigating product-market fit with a focus on primary market research
- Geography: Applicants may apply from anywhere in the world. Depending on the COVID-19 pandemic, events may take place onsite in New York City and Boston, virtually, or a combination of both.
Deadline: January 27, 2021
Cost/funding for participants:
Program Benefits for Startups
- Participation in a six-month acceleration program, including 80+ hours of customized programming to help startups bridge the gap between the technology development challenges of today and the carbontech markets of tomorrow.
- Exclusive access to industry-leading multinational corporations from diverse industries poised to shape the future of the global carbontech market, including the advanced materials, chemicals, and water and waste sectors
- Support from high-quality, experienced mentors from a curated community ofindustry-specific experts to meet identified business needs
- Access to an industry- and technology-relevant expertise and knowledge base of carbontech thought leaders from academic institutions and NGOs
- Resources from the Urban Future Lab, Greentown Labs, and Fraunhofer USA and Fraunhofer Gesellschaft networks, including membership at one or both of the Greentown and UFL incubators for the duration of the program (further details below, virtual options available).