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.
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, kleen hub, Participant in GreenUP Accelerator
The application process
Deadline for application: 28 February 2022!
The selection process
22 March 2022
All applicants are notified whether or not your startup is selected to join the bootcamp for further selection
24 March-4 April 2022
30 startups join the bootcamp week for final preparation
6-7 April 2022
Final pitch in front of a jury
11 April 2022
The 15 startups chosen to join GreenUP will be notified
20 April 2022
The GreenUP participants meet with the Program Manager and Bach Law for a detailed walkthrough of the convertible note terms
2 May 2022 – Program start!
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 8 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 28 February 2022. Early bird deadline is 31 January 2022. 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 either directly or indirectly contributes to reducing CO2e 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 2 May 2022 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), 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 note loan on startup-friendly terms. It is an offer, and you are not required to accept the investment the program itself will also have a lot to offer in addition to the funding. Details on the terms can be acquired upon request and will 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 are successfully connecting startups to investors in our extensive 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.