Climate Insider Brief:
- Founded by Gayathri Kuppendra Reddy, NOW Venture Studio is dedicated to accelerating the journey from idea to commercialization for startups pioneering sustainability and climate tech solutions.
- NOW is inviting applications from early-stage startups and aspiring entrepreneurs committed to solving and building for critical areas of sustainability and climate.
- NOW offers financial support, mentorship, market access, and partnerships to selected startups, aiming to elevate their success rates beyond traditional startup models.
PRESS RELEASE – April 08, 2024 – Swift urbanisation has contributed to several climate-related problems, including the creation of microclimates. Such issues highlight the urgent need for the development and scaling of inventive solutions that can address these adverse effects. Entrepreneurs are key to unlocking these solutions while initiating change from the ground up. However, they need a partner and a supportive ecosystem that offers more than just financial backing to nurture their ideas into commercial ventures.
NOW Venture Studio is a Sustainability Action Venture Studio dedicated to accelerating and derisking the idea-to-commercialisation journey of deeptech or deep science-enabled startups that are pioneering solutions in sustainability and climate tech.
Founded by Gayathri Kuppendra Reddy, an entrepreneur, trained climate leader, and active angel investor, NOW is led by a core team with 40+ years of experience across startup scaling, climate entrepreneurship, innovation, SaaS, and venture capital. Why NOW Venture Studio? Early-stage deeptech founders who are developing critical sustainability and climate technologies often struggle to move beyond the early stages due to the challenges of scaling innovative solutions in traditionally slow-to-change industries.They need a partner and a supportive ecosystem that goes beyond financial backing.
Venture Studio, a new business model, is an ideal co-building partner for entrepreneurs who want to turn their ideas into scalable ventures. Under this model, NOW will assist founders by providing finance, mentorship, product-market fit, access to market opportunities, corporate partnerships for prototype/solution validation, and access to climate tech experts.
On a global scale, startups originating from Venture Studios exhibit a 30% higher success rate than their traditional counterparts. Additionally, 84% of these studio startups successfully secure a seed round; only 25-30% of traditional startups achieve the same. Furthermore, 72% of studio startups advance to Series A funding, contrasting with 42% of traditional startups. They accomplish this milestone in 25 months, significantly faster than the 56 months typically taken by traditional startups.
Who should apply?
- NOW is inviting applications from early-stage startups and aspiring entrepreneurs committed to solving and building for critical areas of sustainability and climate. They can be researchers, students, industry professionals, first-time entrepreneurs, or repeat entrepreneurs.
- Applicants working across areas corresponding to reducing global carbon footprint and advancing environmental resilience, viz Built Environment, Industrial and Supply Chain decarbonisation, Energy, EV and Mobility, Agri and Food, Circular Economy, and Low Carbon Materials, are invited to apply.
Why should you apply?
- NOW Venture Studio is the ideal co-building partner for entrepreneurs as they journey from an idea to a scalable venture.
- NOW will select startups on a rolling basis. Over an engagement period of 12-18 months, it will work with selected individuals/entrepreneurs to shape the promising idea or prototype into a new climate venture.
Each entrepreneur will have access to:
- Committed capital: Initial and follow-on funding ($250,000-$500,000)
- Pre-vetted market opportunities (White Spaces)
- Corporate partnerships for prototype/solution validation
- Access to Lab/Sandbox for quick experimentation
- Unparalleled access to a pool of climate tech experts
- Help in identifying potential co-founder and core team
How to apply?
NOW is accepting applications on a rolling basis. It’s not a cohort model. The company will customise the engagement with every startup since each will have unique requirements.
The company is looking for authenticity, new ideas with significant climate impact, commercialisation potential, and the potential to be a category leader.
To stay informed about the climate industry explore our latest climate tech news.
SOURCE: Your Story
Featured Image: Credit: NOW
