UOB innovation accelerator UOB FinLab has launched GreenTech Accelerator 2024, a six-month regional programme aimed at addressing current sustainability challenges.
GreenTech Accelerator 2024 marks the second run of the programme, built on the back of its inaugural run in 2022 which led to the establishment of eight pilots and partnerships and more than 160 business connections.
The programme, which commenced on June 27, focuses on enabling the growth, transformation and forging of partnerships of greentech companies.
Out of 350 applicants, UOB FinLab has shortlisted 34 companies across Singapore, Malaysia and Thailand. Twelve Singapore companies are set to join this year’s programme such as Circular Unite and Evercomm Singapore.
The programme is part of the company’s key initiatives aimed at demonstrating the bank’s commitment to sustainability across Asean.
With more than 30 world-class mentors onboard, the programme is focused on the fast-track development of sustainable technology solutions.
See also: JPMorgan pursues deals to finance shutdown of coal-fired power
This year’s programme will also offer up to $100,000 for greentechs to pilot relevant, impactful and deployable solutions with businesses.
As part of the programme, selected greentechs will tackle real-world sustainability challenges from more than 50 challenge statements contributed by 27 challenge partners including UOB and external partners such as DKSH, Marina Bay Sands and Ngee Ann Polytechnic to co-create solutions for partnerships and pilot projects.
This year’s challenge areas include circular economy and waste management, energy efficiency, food and agriculture, and carbon management and reporting.
The programme is set to conclude in November with a showcase day at the Singapore Fintech Festival.
