A new cleantech accelerator's program is about to launch
Environmental Investment Centre (KIK) has signed a procurement contract with Beamline Accelerator which offers green technology startups technology and business development services and helps startups attract private investments faster. The accelerator program focuses on new materials, resource efficiency, and green chemistry and is organized by Beamline Accelerator.
In the accelerator, cleantech products or services are developed based on the best practices of material science. In addition, new opportunities are sought for resource efficiency, and green chemistry which means reducing the use of problematic substances, their more sustainable use, or replacing them with safer ones. The development accelerator is organized by the Beamline Accelerator, which helps develop clean technology startups daily.
According to Jana Budkovskaja, the CEO of Beamline Accelerator, applications open for the accelerator program this fall.
"We invite startups to apply to the program that develops both hardware and software products or services specifically in the field of new materials, resource efficiency, and green chemistry. For companies that have entered the accelerator, we offer product and business development services worth up to 100,000 euros," adds Budkovskaja.
According to Aire Rihe, an advisor at the Ministry of Climate's Green Reform Department, the economy is undergoing structural changes in many areas to fit within nature's limits and become more sustainable. "A smaller environmental footprint is also a competitive advantage, as changes are inevitable, and green is already preferred in export markets and the financial sector. Our own developed green ideas contribute to solving local challenges and have the potential to build a green transition based on promoting our best knowledge and local competitiveness," says Rihe, adding, "By organizing development accelerators, we extend a helping hand to innovative green ideas and provide startups with the necessary knowledge and tools to develop their ideas."
KIK's green innovation project manager, Laura Gredzens, highlights the innovation and creativity of startups. "Startups dare to take bigger risks, often think outside traditional frameworks, and test ideas that can provide forward-looking solutions to today's environmental challenges. All companies participating in the accelerators must make a leap in development, and from the more successful program participants, we expect both green technology solutions testing in real conditions and the involvement of private investments," says Gredzens.
Accelerator faces significant challenges that need to be addressed to adapt to climate change. The accelerator organizer assists startups in their product or service technological development and trains them on entrepreneurial topics, also helps map potential funding sources and hone the skills needed to raise money. In the accelerator program, startups' development needs are approached as personally as possible, with experts playing a significant role, sharing practical advice and supporting the journey.
In total, up to 2026, there will be five different development accelerators for green technology companies in Estonia, two development accelerator procurements are planned to be opened later this year, and the last procurement is planned for the first quarter of 2024. KIK will soon also open support for startups for prototype development and green technology testing.
The procurements are carried out within the framework of the Estonian recovery plan from the European Union's Recovery and Resilience Fund (RRF) and are aimed at implementing green technology development programs.
Beamline Accelerator is from the land of the unicorns, a topic-focused accelerator, where we offer a tailor-made approach to each startup, delivering services and networks to fuel organic growth.