Frequently Asked Questions of Sustaintech Xcelerator 2021

General

What is nature-based solutions or NbS?


Here’s a definition we like from WWF: "Nature-based solutions for climate harness the power of nature to reduce greenhouse gas emissions and also help us adapt to the impacts of climate change. They are win-win solutions that involve protecting, restoring and sustainably managing ecosystems to address society's challenges and promote human well-being. Forests are probably the most well-known nature-based solution for climate change, but there are many more - including peatlands, mangroves, wetlands, savannahs, coral reefs and other landscapes.




Who’s behind the Sustaintech Xcelerator?


Sustaintech Xcelerator is a joint initiative by DBS Bank, Temasek, World Bank, Google and the National University of Singapore Centre for Nature-based Climate Solutions. These organisations are striving to exponentially increase the impact of nature-based solutions in partnership with climate innovators around the world.




What specific challenge is the Sustaintech Xcelerator focused on?


We are focused on building greater trust for NbS for investors looking to develop these nature-centric solutions to climate change and companies looking to offset their emissions with high-quality carbon credits. Today, highly manual verification processes and a general lack of transparency around the risks and impacts (e.g. biodiversity, social, financial) of NbS projects limits their development potential. The Sustaintech Xcelerator is seeking innovators who can address these limitations by:

  • Reducing the cost and improving the accuracy of environmental verification (carbon sequestration)
  • Valuing social- and biodiversity co-benefits of NbS projects
  • Providing ongoing monitoring of NbS assets (forests, mangrove belts etc)
  • Improving the financial transparency of NbS projects




What is the structure of the accelerator?


During the 6 months of the programme, you will be assigned a dedicated mentor from our partner organisations. The accelerator will start with a discovery phase where we will dive further into your mission, current needs and plans in order to craft a bespoke support plan for you throughout the 6 months. Each selected applicant will receive technology resources from Google, access research expertise at NUS and will pitch at the Ecosperity Conference organised by Temasek. Throughout the process, we will work with you to connect you to relevant stakeholders in the Singapore ecosystem to help accelerate your development and to explore opportunities for localising your solutions.





Perks

How does mentorship work?


We will organise a matchmaking experience to ensure that both parties get the most out of the accelerator engagement. We recommend that you meet bi-weekly at the minimum – virtually and/or in-person.




Who are the mentors?


Our mentoring team is built from relevant experts across our partner organisations and from our extended network of NGOs, academic institutions, NbS project developers and other technical experts. We will share more details of the panel with the confirmed cohort.




Will I or my company receive any funding from this accelerator?


Yes, we will be providing grants of S$50,000 for all innovators that make it into the Sustaintech Xcelerator. The grant of $50,000 is per project team or company that is selected to enter the Xcelerator cohort. Grants are to be used to support the development of MVPs, proof-concepts and other tangible deliverables that will help to accelerate your solutions.