Deadline: 24-Apr-23
The Urban Future Lab is pleased to announce, for the seventh year, the Urban Future Prize Competition, which seeks to find the brightest climatetech startups and, through the generous support of The New York Community Trust, MUFG Union Bank, and NYSERDA, award two winners with $50,000 cash prizes.
These awardees will also receive admission into the ACRE Incubator, New York’s longest-running and most successful climatetech program.
They believe New York is the “climate finance capital of the world”, so this year they are thrilled to announce a new prize track, the Climate Finance Prize. They encourage startups focused on solving climate change through finance, fintech, and insurance to apply to this track. All other climatetech startups can still apply for the Future Vision Prize.
The Urban Future Prize Competition seeks entrepreneurs who are building startups that contribute to a more resilient and sustainable planet.
Award Information
- A $50,000 cash prize will be awarded to two grand prize winners. The Future Vision and Climate Finance Prize winners will also join the ACRE Incubator and gain access to a community of expert advisors, mentors, and investors who will help to scale their businesses and accelerate their paths to success. ACRE companies have raised more than $1.65 billion in follow-on funding, created over 1,000+ green jobs, and have a survival rate of close to 90% since the program’s inception in 2009.
- Membership: Entrance into New York City’s premier cleantech incubator
- Recognition: Global recognition and promotional media opportunities
- Opportunities: Introductions to key partners from the public and private sector
Categories
- The Future Vision Prize : Sponsored by The New York Community Trust and MUFG
- Eligible startups for the Future Vision Prize address climate change through technology or business model innovation across categories that include, but are not limited to:
- Smart Grid and Grid Flexibility
- Renewable Energy
- Energy Distribution and Storage
- Circular Economy
- Transportation and Mobility
- Buildings and Energy Efficiency
- Building Materials
- Urban Infrastructure and Resilience
- The Climate Finance Prize: Sponsored by The New York Community Trust and MUFG
- Eligible startups for the Climate Finance Prize address climate change through technology or business model innovation across categories that include, but are not limited to:
- Enabling Financing Solutions
- Insurance Innovation
- Carbon Accounting and Reporting
- Risk Analysis
- Investing and ESG
- Banking, Payments, or Lending
- Measurement, Reporting, and Verification (MRV)
- Carbon Markets
Requirements
- Applicants should be early-stage startups generating revenue that have raised under $5M and are able to clearly articulate the potential sustainability impact from their core product or service.
- Companies may be internationally based, however, they ask winners to maintain at least one full-time startup employee and one desk at their incubator in New York City. Founders derive the most value from being physically present when industry, investor office hours or events occur. Accommodations are made in accordance with COVID best practices and restrictions.
- Semifinalists
- Once selected, Future Vision and Climate Finance Prize Semifinalists will be invited to interview with the Urban Future Lab Prize Selection Committee.
- Finalists
- If selected as a finalist, applicants must designate one person from their team to pitch at the Urban Future Summit. Finalists will be informed no later than mid-August 2023.
- Pitch Practice Sessions
- Finalists will be coached by experts in advance of the pitch day event.
- Conditions
- Winners of the Prizes commit to participation in the ACRE Incubator at the Urban Future Lab in Downtown Brooklyn for a minimum six-month incubation period. Relocation and program membership costs are not covered. Prizes will be administered in two tranches over the course of a minimum six-month incubation period based on program milestones created by ACRE staff and agreed upon by the awardee.
For more information, visit Urban Future Lab.