A new initiative, the Future Industries Partnership, launches to fast-track the deployment of innovative climate technologies aimed at decarbonizing heavy industries such as iron, steel, cement, and chemicals across Asia and the Middle East.
This three-year philanthropic program is a collaboration between HSBC, Third Derivative (RMI’s climate tech accelerator), and Founders Factory. It seeks to connect climate tech startups in these regions with global expertise and networks to overcome barriers to investment and deployment.
Addressing Investment Gaps in Industrial Climate Tech
Despite the rapid growth of industrial production in Asia and the Middle East, nascent climate technologies in these sectors receive only 10% of venture capital funding and a mere 3% of total global investment. Scaling new technologies in heavy industry poses challenges due to the need for specialized skills, significant upfront capital, and complex commercial and regulatory environments.
The Future Industries Partnership aims to select and support climate tech startups offering promising solutions in these regions. Innovators will receive hands-on technical and commercial assistance to better plan, prepare, and reduce risks, facilitating a successful pathway to investment and deployment.
Leveraging Singapore’s Strategic Position
Launched in Singapore, home to 4,500 tech startups, the program provides entrepreneurs with access to an ecosystem of investors and corporate partners seeking opportunities to accelerate the net-zero transition in emerging markets. Singapore’s focus on the green economy and its status as an international trade and finance hub offer startups a strategic advantage for regional expansion.
Program Offerings
Startups participating in the program will engage in an 18-month accelerator journey, receiving:
- Technical and Commercial Support: Tailored assistance to enhance efforts in securing financing and accessing markets.
- Investor and Corporate Networks: Connections to an ecosystem seeking investment opportunities in climate tech.
- Strategic Guidance: Insights to navigate the challenges of deploying technologies at scale in industrial sectors.
By combining deep technical expertise, global investor and corporate networks, and tailored commercial support, the Future Industries Partnership aims to help future industrial leaders become bankable, scalable, and ready for deployment across Asia and the Middle East.
For more information on startup eligibility and how to get involved, visit Third Derivative’s website.