AIB backs accelerator to support firms fighting climate change

AIB has teamed up with Sustainable Nation Ireland and an EU public-private partnership, EIT Climate-KIC, to fund a programme in Dublin that aims to support startups tackling climate change.

The €400,000 accelerator programme will last for 18 months, with €350,000 coming from EIT Climate-KIC. Irish entrepreneurs and startups taking part will be encouraged to develop products and services, specifically breakthroughs in climate innovation and finance. Participants will have access to business coaches and mentors, plus the EIT Climate-KIC European community network.

"Irish-located companies are developing innovations that can solve some of the planet's most pressing climate-related challenges," said Stephen Nolan, chief executive of Sustainable Nation Ireland.

Summit

The accelerator is part of a year-long programme by Sustainable Nation Ireland that involves 50 separate events taking place across Ireland, including Europe’s Climate Innovation Summit.

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By the end of the year, EIT Climate-KIC will have invested a total of €1.6 million into Ireland through Sustainable Nation Ireland, which promotes Ireland as a hub for sustainable finance, business and innovation. A total of 88 new and early-stage firms have been supported as a result of the partnership between the two bodies.

"The Irish transition to a low-carbon economy is gathering pace," said EIT Climate-KIC chief executive Kirsten Dunlop. "To get to where we need to, as quickly as we need to, depends on a shared commitment to action across the public and private sector."