Wavemaker Impact co-founders
Wavemaker Impact, a climate-tech venture builder launched recently by the Singapore-based VC firm, has partnered with Enterprise Singapore (ESG).
The partnership aims to support Wavemaker Impact’s ambition to launch new climate-tech startups that will reduce global emissions by 10 per cent by 2035.
Under the partnership, ESG will support Wavemaker Impact as a Startup SG Accelerator partner to run programmes and activities to groom more than 12 high-growth climate-tech companies in the next three years.
The announcement is part of the Singapore Week of Innovation and TeCHnology (SWITCH) 2021, organised by ESG from 8 to 12 November 2021. SWITCH brings together leaders, entrepreneurs, creators, accelerators, and investors from the global tech ecosystem.
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Wavemaker Impact will leverage its unique model of working with proven entrepreneurs and operators to build new climate-tech startups in Singapore and work with them to export their solutions to other markets.
With a US$25 million target for its first fund, Wavemaker Impact was founded by prominent entrepreneurs, including Steve Melhuish (PropertyGuru); Doug Parker (ex-COO of Nutonomy); Paul Santos (Wavemaker Partners); and Quentin Vaquette and Marie Cheong.
Edwin Chow, ESG’s assistant CEO (Innovation & Enterprise), said: “This partnership strengthens the startup ecosystem in Singapore and contributes to our goal of helping enterprises incorporate sustainability into their business, and building new capabilities to meet the demands of the green economy.”
According to Vaquette, they have identified at least 50 opportunity areas where they can build companies with the potential to reach US$100 million in revenue and abate 100 million metric tons of carbon at scale.
Some of the opportunities Wavemaker Impact has identified are in sectors like land use and carbon sinks, agriculture and food, industrial processes, and energy. The team aims to target the biggest sources of carbon emissions in Southeast Asia, where significant impact is possible.
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Image Credit: Wavemaker Impact
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