Over 250 companies and startups have already applied to join the initiative focused on scaling and growing emerging technologies with the aim of reaching unicorn status in the coming years.
The Center, located next to the International Cyber Center in SoHo, will bring together cyber, fintech, foodtech, agritech, and urban technologies to the forefront of the climate arena, positioning NYC as the global capital of climate innovation.
NEW YORK, NY, Wednesday 14 September 2022 – Jerusalem Venture Partners (JVP), a leading Israeli venture capital firm together with MINI, URBAN-X, and the City of New York, today (Wednesday) celebrated the launch of the International ClimateTech Center at Margalit Startup City in SoHo. The new Center will help support and scale sustainable, technological solutions to climate change in urban landscapes, making New York City the green investment capital of the world.
With 55 percent of the world’s population living in cities and urban areas, innovation in cities is a cornerstone in the global fight against climate change. By focusing on cities, which are responsible for three-quarters of the globe’s carbon dioxide emissions, this partnership aims to identify, support, and scale high-growth solutions that can help achieve global energy and environmental goals.
Located next to the International Cyber Center in SoHo, the International ClimateTech Center will take an entirely new approach to ClimateTech, whereby mainstream technologies will join forces with the worlds of Cyber, Fintech, Foodtech and AgriTech, to tackle the climate crisis in the most innovative manner possible. The goal of the initiative is to examine the best entrepreneurs and technologies capable of driving the embryonic but crucial field of ClimateTech, in the heart of New York.
Moreover, with this partnership MINI and JVP will leverage their global networks, strong strategic partnerships, and company-building expertise to support and scale new ideas and innovators through MINI’s dedicated innovation arm, URBAN-X, as they work together to pioneer new technologies in cities across the globe. In answer to an earlier call for applications, more than 250 companies and startups from around the world have already applied to join the initiative. The companies accepted to the program will receive hands-on guidance with customer discovery and engagement, product development, talent acquisition, and brand and network-building.
Founder and Chairman of JVP and Margalit Startup City, Erel Margalit noted, “We need to change the paradigm. The only way to face the global challenge of climate change is to bring major areas of technology together to join forces to create a new firewall to protect the sustainability of cities. If we do not find the right solutions to ensure the protection of our basic resources – air,
water, and energy – we may lose the battle for our planet – and time is running out. We need to see how we can best use cybersecurity to protect the sustainability of our cities – the quality of our air and water. The next blockchain, Fintech system will enable trading and offset of emissions between companies and countries.”
He added, “This is why we are partnering with MINI, and the City of New York, to give us a new opportunity to give our planet a chance. The International Climate Center will create new ideas, and I am quite sure, some of the largest companies in this field. This partnership began in NYC, but will extend and have an impact all over the world.”
Mike Peyton, Vice President of MINI of the Americas: “MINI has a deep history of developing solutions at the intersection of mobility, living, and design to improve quality of life in cities. We’ve had the privilege of working with some of the most exciting companies reimagining city life and we look forward to building on the success of URBAN-X under this new partnership with JVP as we continue to advance solutions across mobility, such as EV infrastructure and electric mobility, and those beyond the car .”
Johan Schwind, Managing Director of URBAN-X: “By now, we have all recognized the inseparable future of cities and climate change and the challenges we must prioritize – from electrifying buildings and transportation to decarbonizing the grid, to create a more circular economy. We need to innovate across industries if we want to have a chance at limiting warming to 1.5 degrees Celsius. This cross-sector collaboration with JVP will drive better outcomes for people and cities, while also contributing to the expansion of New York’s bustling innovation ecosystem”.
8 companies have been selected by JVP, MINI and URBAN-X to enter the exclusive program. These companies build solutions to combat the world’s climate emergency through technology that addresses the built environment, accessible transportation, and energy efficiency.
- CoPilot: Copilot’s user engagement platform enables brands to solve smart product set up challenges in real-time, therefore dramatically reducing product returns and its associated impact on the environment.
- Senrcop, a leading micro-climate technology company, with the largest connected community of farmers in Europe. Sencrop’s data-driven precision app enables farmers to have a crop-oriented vision of the weather conditions, disease and pest risks, and their irrigation needs.
- DirtSat: Provides data-driven tools and a streamlined marketplace for the development of urban rooftop farms on commercial buildings
- Dollaride: Connects businesses, drivers, and riders with an easy-to-use software platform that provides reliable transit in underserved areas
- Dynami Air Cooling: Builds environmentally-friendly air conditioning and refrigeration technology for industrial applications without synthetic HFC coolants or thermal emissions.
- Enerdape: Develops heat-exchangers for underground buildings that tie in with existing heat pump infrastructure, providing a renewable source of energy for buildings and structures in cities
- MIMIC Systems: Improves how buildings manage heating and cooling by developing technology for personalized comfort.
In addition, several growth stage JVP’s portfolio companies will collaborate with MINI and the program’s participants to leverage the solutions and the products. Among them:
The new International ClimateTech Center is the second phase of the International Cyber Center that was launched by JVP and Erel Margalit in February of 2020, in partnership with the City of New York, Columbia University, Cornell, CUNY, NYU, and the EDC. The Center already has 35 scale-up companies and has become one of the most vibrant Cyber security Centers on the East Coast.
As well as being connected to the International CyberTech Center also at the Soho location, the International Climate Tech Center will join benefit from the innovative work being done at other Margalit StartupCity locations in Jerusalem, Tel Aviv, the Galilee, Haifa and Be’er Sheva.
About Jerusalem Venture Partners (JVP)
Founded in 1993 under the famed Yozma program by Dr. Erel Margalit, Jerusalem Venture Partners VP has created and invested in over 160 companies in Israel, the US and Europe. JVP’s investment strategy is spearheaded by a deep expertise in identifying opportunities from inception and growing them into global industry leaders. Through our theme-driven focus and strong network of strategic partners, we seek to stay ahead of the latest market trends and address the most relevant market needs. The unique Margalit Startup City model and its dedicated team ensure we effectively deliver this added value directly to each of our current and prospective portfolio companies.
About MINI in the US
MINI is an independent brand of the BMW Group. In the United States, MINI USA operates as a business unit of BMW of North America, LLC, located in Woodcliff Lake, New Jersey and includes the marketing and sales organizations for the MINI brand. The MINI USA sales organization is represented by a network of 113 MINI passenger car dealers located throughout the US. MINI USA began selling vehicles in the U.S. in 2002 with the introduction of the MINI Cooper and MINI Cooper S Hardtops. Since then, the MINI Brand in the U.S. has grown to encompass a model range of five unique vehicles.
URBAN-X is the platform for founders reimagining city life. Built by MINI in 2016, URBAN-X partners with startups to build bold technology solutions for a sustainable planet. Breaking from traditional startup program molds, URBAN-X provides entrepreneurs from Seed to Series B with individualized and tailored support that accelerates growth and builds successful businesses for the next generation of climate- and city-focused innovators. Core to its platform, URBAN-X offers world-class engineering and design resources, industry-leading investment capital from our venture partner JVP, a global network of investors, policymakers, corporate strategies and end-customers, and premier educational content for a global network of founders. Find URBAN-X on Twitter & Instagram at @urbanxaccel and on Facebook at facebook.com/urbanxaccel.
Margalit Startup City
Founded by Dr. Erel Margalit, Margalit Startup City innovation centers are found across Israel and around the world. The unique model identifies regional core competencies and assets and leverages them to drive transformational economic and societal change. Each innovation center is an ecosystem dedicated to a major discipline. Collaboration is a requisite and takes place among the public and private sectors, including investment funds and startups, in collaboration with leading universities, research institutes, multinational companies, governmental programs and tech, business and social entrepreneurs. The first Margalit Startup City was established in Jerusalem, followed by the Cyber Center in Be’er Sheva, the International Cyber Center in New York, the FoodTech Center in the Galilee, the Fintech Center in Tel Aviv, and the Digital Health Center in Haifa. Today, these innovation centers are invigorating socioeconomic engines of growth – creating high quality jobs and entirely new communities. The centers integrate the best local and international strategic partners in both the public and private sectors, connecting cities, people and ideas.