GreenUP Accelerator – Combat Climate Change
GreenUp Accelerator is Denmark’s most ambitious acceleration program for climate tech startups working with CO2 reduction. Our aim is simple: To scale up climate tech startups working with solutions and technologies that make a difference in reducing CO2 emissions.
The aim is simple, but the task is not. GreenUP Accelerator takes that task seriously with 20 months of intensive acceleration. We follow your climate tech startup from the startup phase into the scale-up phase. In the scale-up phase, you will be ready to scale up your business and enter international markets. You won’t find a more ambitious accelerator program anywhere else.
The green transition calls for new ideas
Denmark needs new technologies and solutions to meet the decided goal of 70 % CO2 reduction before 2030. GreenUP Accelerator’s ambition is to scale up climate tech startups working within Energy, Industry & Buildings, Food & Agriculture and Transportation. In close collaboration with The Danish Industry Foundation and the most prominent CO2 footprint specialists in Denmark, The Footprint Firm, the GreenUP Accelerator will provide your startup with all the conditions just right to turn your climate tech solution into a scalable business.
After being in the Copenhagen/Danish startup environment for more than two years, we have a good sense of what different Accelerators focus on and how they interact with startups. Here I can say from being part of GreenUP that this is absolutely the excellence in Denmark and designed to help green startups grow. We wouldn't be here right now without the help of this unique programkleen hub, Participant in GreenUP Accelerator 2021
The application process
Deadline for application to GreenUP Accelerator 2023
Early bird deadline
The selection process
All applicants are notified whether or not your startup is selected to join the bootcamp for further selection
30 startups join bootcamp kick-off Climate Impact Forecast workshop
17 March – 24 March
Bootcamp week for final preparation, each startup will be invited for one day of further interviews
15 startups are invited to join GreenUP
24 April – 28 April – Program start!
GreenUP onboarding week
In GreenUP Accelerator you will get access to the partners in Futurebox
More specifically you will get:
Up to 15 hours of legal counseling with the law firm Bach Law
Up to 15 hours on accounting with EY
10-15 hours on sales and marketing with leading experts within B2C, B2B, and B2G
More than 15 hours on setting your team, getting your organization & ownership right
More than 20 hours on how to get investment
More than 20 hours on product development and supply chain from Kapacitet
15-20 hours on Sustainable Business Models and Sustainable Accounting and Reporting with The Footprint Firm, the most prominent CO2 footprint specialists in Denmark
And much more! That includes several hours with experts within Team development, Market & Customers, The Problem, Business Models, Pricing, and Pitch training.
All in all, more than 75 hours of counseling with experts!
Acceleration is our specialty
We know how to accelerate startups. Based on experience from accelerating hundreds of deep tech and hardware startups during the past eight years, we know what it takes to go from an early-stage startup to a scalable business. We offer an acceleration program with 1:1 sessions with all the relevant specialists, workshops, state–of–the–art mentoring, access to an extensive investor network, a desk in Futurebox, Denmark’s leading incubator and accelerator for deep tech startups, and much more. All for free!
- Q: Should I sign up?
A: Yes! The application deadline is 20 February 2023. The early bird deadline is 27 January 2023. You need to be a registered company with a VAT/CVR number.
- Q: How do you define a Climate tech startup?
A: A startup that directly or indirectly contributes to reducing CO2e emissions.
- Q: Are both phases of GreenUP mandatory?
A: Both phases are mandatory, but only startups ready for the Scale-up phase will proceed.
- Q: What does it take to proceed to the Scale-up phase?
A: To go to the ScaleUp phase, you need, as a minimum, to have product market fit. This means selling your first final products to real customers at market prices. The ScaleUP phase is created to support a fast scaling journey, and if you are still looking for product market fit, you will waste your time – and ours. A jury will select the startups that go to the next phase.
- Q: We’ve been through an acceleration program already. Can we skip the Startup phase of GreenUP?
A: No, participation in the Startup phase is mandatory, and although you have been through an acceleration program before, we still have a lot you can learn in the Startup phase. Ask other startups from the program if you are in doubt.
- Q: It is a requirement to have a working prototype. How do you define that?
A: Obviously, product development never stops, and we don’t expect you to have a “finished” product. However, we expect you to have a prototype that you have been working on and can show some initial test results.
- Q: I’m a solo founder. Can I sign up?
A: No. You need to be a team of at least two full-time people. And out of the school, of course.
- Q: When is GreenUP?
A: Officially, the Startup phase starts on 24 April 2023 and runs for four months. However, we like to get to know you before we begin. In that way, we are much better equipped to help.
- Q: Who can participate?
A: Any startups with a direct or indirect contribution to CO2 reduction. We don’t discriminate by age, gender, university (or degree), or background. In fact, the more diversity, the better.
- Q: How do you handle confidentiality?
A: This is a safe space, and we never share your information without consent. However, Futurebox is an open space, and many people walk in and out of the building. So, if you have very sensitive information, consider when and where you share that information.
- Q: What are the terms of the upfront investment offered?
A: The DKK 1 million upfront investment is offered as a convertible note loan on startup-friendly terms. It is an offer, and you are not required to accept the investment. The program will also have much to offer in addition to the funding. Details on the terms can be acquired upon request and will also be presented in the webinars ahead of the application deadline.
- Q: Is there any other funding during the program?
A: The convertible note is offered by a group of 10 large investors who have the ability and interest in follow-up investments in the GreenUP participants. You will have many interactions with them and direct contact during the program. Furthermore, we successfully connect startups to investors in our extensive network during the program, should this be needed. We don’t do funding ourselves.
- Q: Will I get my own office?
A: No, but you will get your own desk. Futurebox is an open space because we believe collaboration calls for proximity.
- Q: Is attendance required?
A: Yes, attendance is mandatory for meetings and everyday gatherings, but it is optional to be in Futurebox daily.
- Q: Do I have to move in?
A: No, you don’t have to move in. But we recommend you do so. You’ll benefit much more from the program, the team and the other startups if you’re here daily. Rent is free during the program – and our coffee is excellent. It’s delivered from a great startup!
- Q: What is the Bootcamp all about?
A: The Bootcamp is a series of days where we get to work in-depth with your startup in all aspects to find out whether you are the right match for GreenUP and to learn how GreenUP can be the right match for you. At the end of the Bootcamp, you will pitch in front of a jury. The jury decides the final selection of startups.
- Q: Who selects which startups get invited into the program?
A: We have an external jury of tech and climate experts, entrepreneurs and investors.
Futurebox is the leading deep tech incubator in Denmark. We’re a house made up of creators, innovators, engineers, investors and serial entrepreneurs, all building products for future generations. We supply strong mentors, business developers, tech advisors, investors, acceleration programs, access to fundraising and DTU.
About The Danish Industry Foundation
The Danish Industry Foundation’s objective is to promote the competitiveness of the Danish industry. The Danish Industry Foundation develops and supports innovative, inspirational and economically sustainable projects and initiatives that strengthen the competitiveness of Danish industries. The Foundation’s target group covers all Danish companies but mainly focuses on SMEs and entrepreneurs with growth potential.
About The Footprint Firm
The Footprint Firm is an advisory and investment company. They make connections between companies, science, academia, government institutions, start-ups and capital and work for climate-positive innovations and sustainable solutions.
Thomas Hebo Sparring
Tel: +45 5196 2235