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 through the, often over-looked, gear up phase and 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
In order to meet the decided goal of 70 % CO2 reduction before 2030, Denmark is in need for new technologies and solutions. 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 all the conditions just right to turn your climate tech solution into a scalable business.
We learnt so much in the past months, and the final pitch was incredible to try. The feedback you receive helps put much of your learning in context, and makes your company ask yourself some tough questions. All the people we met along the way have become great friends and mentors to our journey.Reshape Biotech, Participant in previous Futurebox acceleration program
The application process
Deadline for application: 1 March 2021!
The selection process
8 March 2021
All applicants will hear from us whether your startup has been selected to pitch in front of a jury for further selection.
15 March 2021
Jury pitch: 40 applicants will be selected to pitch in front of a jury of experts.
6-12 April 2021
Bootcamp: 30 startups will be selected from the jury pitch to go through a week of bootcamp preparation and pitching for final selection.
13 April 2021
Pitch for final selection
1 May 2021 – Program start!
15 of the 30 startups from the bootcamp will be accepted into the GreenUP Accelerator with the first three months beginning on 1 May 2021.
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 7 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! Application deadline is 1 March 2021. Early bird deadline is 1 February 2021. You need to have a Danish CVR number. If you don’t have one already, we can help you
- Q: How do you define a Climate tech startup?
A: A startup that either directly or indirectly contributes to reducing CO2 emissions.
- Q: Are all three phases of GreenUP mandatory?
A: All phases are mandatory, but only startups that are ready for the next phases will proceed to the Gear up phase and Scale up phase.
- Q: What does it take to proceed to the Gear up phase and Scale up phase?
A: In order to go to the Gear up phase, you need as a minimum to have product market fit, that is, sold your first final products to real customers at market prices. In order to go the Scale up phase, you need as a minimum to have professionalized your startup and be ready to expand sales to international markets. An independent jury will select the startups that go to the next phases.
- 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.
- Q: It is a requirement to have a working prototype, how do you define a that?
A: Obviously, product development never stops and we don’t expect you to have a “finished” product, we do however 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.
- Q: When is GreenUP?
A: Officially the Startup phase starts 1 May 2021 and runs for three 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), 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 there are a lot of people walking 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 loan note on startup-friendly terms. However, exact details of the arrangement are still being negotiated with our investment partners. But just for the record: it is an offer and you are not required to accept the investment, the program itself will also have a lot to offer you except from the funding.
- Q: Is there any other funding during the program?
A: We are working to line up partnerships with investors who will be positioned to offer a Series A investment at the end of the program. Furthermore, we are successfully connecting startups to investors in our large network during the program, should this be needed, but 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 close proximity.
- Q: Is attendance required?
A: Yes, attendance is mandatory for the meetings and common gatherings, but it is not mandatory to be in Futurebox on a daily basis.
- Q: Do I have to move in?
A: No, you don’t have to move in. But we recommend you to do so. You’ll benefit much more from the program, the team and the other startups if you’re here on a daily basis. Rent is for free during the program – and our coffee is great, 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 that decides the final selection of startups.
- Q: Who selects which startups get invited into the program?
A: We have an external jury made up 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 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 it is particularly focused on SMEs and entrepreneurs with growth potential.
About The Footprint Firm
The Footprint Firm is an advisory and investment company. We make connections between companies, science, academia, government institutions, start-ups and capital. We work for climate-positive innovations and sustainable solutions.