UConn, R/GA Ventures, CTNext Kickoff Venture Studio Addressing Climate Change
Summary
The University of Connecticut, R/GA Ventures, and CTNext are kicking off their first cohort of the Future Climate Venture Studio this week, with six selected companies creating solutions across a range of critical areas of climate and sustainability including energy, agriculture, manufacturing, and financial services solutions.The Studio has been launched as a partnership between UConn, a national and global leader in interdisciplinary climate research, R/GA Ventures, a leading venture studio operator and early-stage investor; and CTNext, a state agency dedicated to public-private partnership to catalyze Connecticuts innovation ecosystem.The companies selected to the first cohort are: Applied Bioplastics Delivering lower-carbon durable plastics at price and performance parity with traditional plastics while reducing emissions by 20-40% Clean Crop Using electricity to boost yields, improve safety, and reduce waste across the food space Cool Amps Cool Amps is a team of technologists focused on reclaiming lithium-ion battery metal components in a responsible mannerin order to develop a closed-loop supply chain that increases American competitiveness and enhances national security. GreenPortfolio Helping millennials and Gen-Z fight climate change with their financial decisions INOVUES Retrofitting building facades to incorporate the latest energy-saving and smart glass innovations without removal, replacement, or disruption Urban Stalk Creating novel circular vertical farming technology to grow vegetable foods locally, year-round, and with no waste or carbon-based chemicals ensuring a higher quality, nutritiously safe productThe Studio is the latest in a series of investments and initiatives for UConn as it establishes itself as a leader in climate change and clean energy research and innovation. Our faculty and students are committed to the solutions that will steer us toward a cleaner energy future.The transition to a green economy is an increasingly crucial focus to produce positive change for our world and markets. In supporting this first cohort, were excited to showcase how our regional resources and relationships can drive greater impact both on a local and national level, says Onyeka Obiocha, Executive Director at CTNEXT.The program and its partners will provide the selected companies with access to industry and UConn faculty experts, capital investment from R/GA Ventures, technology facilities at the Innovation Partnership Building at UConn, as well as guidance from the Studios Investor-in-Residence, Cody Simms from MCJ Collective, a media platform and investment fund powering innovative climate solutions.Additional partners include CT Innovations, the state of Connecticuts venture capital arm; Connecticut Green Bank, the nations first green bank; the Connecticut Public Utilities Regulatory Authority (PURA); technology leader Oracle Corporation; and investor partners such as Cimbria Capital, Nexus Venture Partners, and others.You can learn more about the Future Climate Venture Studio at futureclimateventurestudio.com.About the University of ConnecticutThe University of Connecticut is a national and global leader among public research universities, with more than 32,000 students seeking answers to critical questions in classrooms, labs, and the community. UConn fosters a diverse and vibrant culture that meets the needs and seizes the opportunities of a dynamic global society.R/GA Ventures works with startups and organizations to create a more human future.