PLANETech launches Nature Tech competition, awarding startups $2.2 million in investments
PLANETech launches Nature Tech competition, awarding startups $2.2 million in investments
Its goal is to discover solutions to meet climate, nature, and land degradation targets
PLANETech, a non-profit innovation community of the Israel Innovation Institute, the Consensus Business Group, and the Ministry of Environmental Protection, has announced that it has launched a Nature Tech Competition to accelerate nature-based solutions to protect, conserve and restore natural ecosystems. The competition will consist of several tracks and grant direct investments of $2.2 million, fully funded pilots, and mentorship from experts in the field of conservation and technology.
The competition is supported by climate investment funds Flora Ventures and InNegev, and by Italian energy company Enel, which are actively looking into Nature Tech.
"We are excited to see the growing awareness, increased investments, and the high-quality talent that have shifted to the field of climate tech in the last two years,” said Noam Sonennberg, Director of PLANETech. “While most of the focus goes to areas such as clean energy systems, climate-smart agriculture, alternative proteins, and sustainable mobility and transport, we are trying to uncover additional areas that need to undergo far-reaching technological advancements.”
The competition aims to accelerate nature tech startups and support startups looking to pivot their technology to enter this emerging market. He continued: “Nature Tech has enormous climate challenges and opportunities that demand technology implementation, accompanied by large investments. We are proud to join forces with key Israeli and international partners to offer startups in this field material and significant value to accelerate their technology. We are thrilled to see more companies and entrepreneurs choosing this field and anticipate that more will take note of the financial and impactful opportunity in Nature Tech.”
Estimates show that for every euro spent invested in nature restoration, there is an added €8-38 worth of food security, ecosystem, climate, and health benefits in return. According to the State of Finance for Nature Report, investments in nature-based solutions must triple by 2030 and increase to $8.1 trillion in the coming decades. The competition also comes amid a new EU Nature Restoration Law, which established legally binding targets to protect and restore 20% of land and sea by 2030.
Startups from around the world will receive the support and guidance of top mentors, such as Niraj Swami, Senior Director of Conservation Technology, Strategy & Enablement, and Applied AI at The Nature Conservancy; Chloe Chong, Asia-Pacific Regional Lead, Bankable Nature Solutions at WWF; Shruti Iyengar, Investment Manager at Future Planet Capital; and Lena Thiede, Founder and Partner at Planet A Venture.
PLANETech promotes climate technologies, promoting Israel as a global technological center. It sets clear definitions for climate tech through its Climate Challenges and guides the ecosystem to fulfill those standards through education and financial incentives. To date, more than 700 climate-tech startups are members of the PLANETech community, which connects startups with international companies, academia, government representatives, and investors.
