Third Derivative offers a comprehensive accelerator program designed to help world-changing climate tech startups bring their innovations to market more rapidly. The initiative focuses on connecting promising ventures with a robust network of investors, corporate partners, and market experts. It aims to bridge critical gaps in financing and resources, accelerating the path to commercialization for startups working on hard science, hardware, software, and innovative business models with significant climate impact potential.
Program Structure and Approach
• Program Duration: The virtual accelerator program spans 18 months.
• Flexible Format: The program is designed to be remote and flexible, meeting startups at their current growth stage with tailored programming.
• Customized Engagement: Participants can choose their level of involvement, from light-touch to highly engaged, in what is described as a "choose-your-own-adventure" experience.
• Dedicated Support: Upon acceptance, each startup is matched with an Account Manager who serves as a direct link to the program's curated network and resources.
Core Benefits for Startups
• Corporate Partnerships: The program provides accelerated pathways to commercial deal-making through its dynamic network of strategic corporate partners.
• Expert Access: Startups gain access to the expertise and network of over 700 energy professionals from RMI, which has deep connections across power, transport, buildings, and industrial sectors.
• Stage-Specific Support: Early-stage startups receive help refining product-market fit and preparing for funding rounds, while later-stage startups (Series A and beyond) get assistance with deployment, funding for growth, and coaching.
• Alumni Status: After the 18-month program, startups become alumni with continued access to the majority of programming, network resources, and opportunities to support new cohorts.
Eligibility Requirements
• Team: Applicants must have a minimum of two full-time employees, with no upper limit.
• Technology Readiness: A working prototype, equivalent to a Technology Readiness Level of 4, is required.
• Company Structure: The startup must be a for-profit company.
• Scientific Risk: The program does not accept ventures with basic science risk.
• Geography: Applications are welcome from startups located anywhere in the world.
• Language: Professional proficiency in English is a requirement for participation.
Technology Focus Areas
The accelerator focuses on hardtech climate innovations across a wide spectrum, including but not limited to:
• Buildings: Efficient cooling, heating, envelope, lighting, appliances, and advanced construction.
• Energy & Grid: Batteries, long-duration energy storage, renewable power generation, and power electronics.
• Transportation: Electric transportation and vehicle efficiency technologies.
• Carbon & Industry: Carbon capture and utilization, carbon markets, methane capture, green hydrogen, renewable process heat, low carbon steel and cement, and other low carbon materials.
• Enabling Technologies: Biofuels, synfuels, low carbon chemicals, computing efficiency, and enabling software for sectors like building energy or grid management.
• Finance: Innovations in financing and project development that accelerate climate tech adoption.
Application and Evaluation Process
• Initial Review: Once submitted, an application undergoes an initial review by a research team focusing on climate impact, techno-economics, business model, and competitive landscape.
• Interview Rounds: Promising companies proceed to a first-round interview, followed by a final round that includes a pitch session with representatives from Third Derivative, RMI, and the corporate and investor ecosystem.
• Selection Timeline: The entire evaluation process takes approximately three months, with startups accepted multiple times per year.
• Evaluation Criteria: Applications are assessed based on the significance of potential climate benefits, the techno-economic pathway to scale, and the degree to which Third Derivative can assist with capital raising and corporate partnerships. The team's fit within the collaborative ecosystem is also considered.
Program Policies and Expectations
• Startup Commitments: Participants are expected to engage in regular check-in calls, be productive members of the ecosystem, keep platform information current, and complete quarterly feedback surveys.
• Exclusivity: The program is non-exclusive, allowing startups to participate in other programs and work with other funds or partners simultaneously.
• Confidentiality: Application data is handled with discretion and shared with partners as needed for the selection process. Applicants are advised not to disclose proprietary information in their application.
• Reapplication: Companies that have previously applied are encouraged to reapply if they have made significant progress, such as securing new funding, partners, or achieving technological breakthroughs.
Special Initiatives
• The Future Industries Partnership: This is a three-year philanthropic program supported by HSBC and delivered by Third Derivative and Founders Factory. Its mission is to accelerate the deployment of climate technologies needed to decarbonize heavy industries like steel, cement, and chemicals across Asia and the Middle East.
By offering a tailored, flexible, and deeply networked environment, the Third Derivative accelerator provides a unique platform for climate tech innovators. The program is structured to address the distinct challenges startups face at various stages, equipping them with the strategic connections and expert insights necessary to scale their solutions and achieve significant global impact.