Paris-based XAnge launches €100k pan-European Climate Fellowship backed by Techstars, Energy Impact Partners

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Paris-based XAnge, an early-stage investment fund, announced on Tuesday that it has launched a new €100k Europe-wide Climate Fellowship to encourage more people to build businesses with a positive impact on climate change. 

The programme is supported by Techstars and Energy Impact Partners. All fellows in this programme will receive an equity investment of €100,000 and extensive support for one year. 

Nadja Bresous Mehigan, Impact Partner at XAnge and head of the programme, says, “The ideal candidate is deeply interested in climate and sustainability topics, passionate about practical applications of new technologies, and ready to embark on an ambitious journey. Ultimately, we invest in future leaders in the climate tech space.”

Climate change and global warming

A recent report estimated that climate change could cost the global economy $178 trillion over the next 50 years. In addition, Norman Myers, an Oxford-based researcher, estimates that more than 200 million people may become refugees by 2050.

Bresous Mehigan says, “VCs have a pivotal role in allocating equity to planet-positive innovation. It’s our responsibility to make capital available to those who can create disruptive and sustainable innovations. With the Climate Fellowship, we intend to accelerate the creation of new startups and coach new entrepreneurs to build successful and ambitious businesses.”

The Climate Fellowship Programme

The Climate Fellowship is open to anyone and not just experienced entrepreneurs and startups. XAnge says the candidates will be chosen based on how much they want to work on climate change and not on how good their project is or how much experience they have.

The programme is now open and interested participants can apply until December 16, 2022. The first badge will launch in January 2023. 

Each fellow will receive €100,000 in equity SAFE funding for 7% of the capital. The programme is designed to focus on impact and speed and Within twelve months, all fellows will be guided and encouraged to decide on the problem they want to solve, find the right co-founders, get their startup off the ground, and raise the first round of seed funding.

Cyril Bertrand, Managing Partner at XAnge, says, “With this programme, XAnge invests in entrepreneurs at an earlier stage than we usually do. We will share our accumulated experience and place their startup on the fast track for both business success and significant carbon impact.”

Matthias Dill, Managing Partner at EIP, says, “EIP’s investment strategy is dedicated to advancing the net-zero carbon economy. We are deeply rooted in the energy sector via our industrial investors. We are happy to support XAnge on the Climate Fellowship and help very early-stage projects upstream of our investment thesis!”

Raphaele Leyendecker, General Manager at Techstars Sustainability Paris Accelerator, says, “A climate tech entrepreneur’s first steps are usually decisive: In addition to confirming the demand and pain they aim to address, they also have to find reliable co-founders and prove to investors that they can efficiently execute together. Such profiles usually have strong tech experience but lack business acumen. The Climate Fellowship programme will allow a new generation of entrepreneurs to create successful VC-compatible early-stage climate tech startups.”

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Atish Rajasekharan

Atish is a computer science graduate and a fervent enthusiast who likes to explore and talk about tech, business, finance, and startups.

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