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“In the midst of every crisis, lies great opportunity.”
This quote, which Albert Einstein is credited with, is stenciled on one of the offices that I pass every day at work. It gives me a boost every time I see it.
This saying can be applied to everyday things like the cancellation of a babysitter last minute. However, it can be viewed as an opportunity to trust my 9 year old daughter to care for her younger sisters for a few hours.
It also applies to the large, global-scale crises we as a species are currently experiencing.
Climate change is the greatest crisis facing humanity and the world today. According to the latest report by the United Nations’ Intergovernmental Panel on Climate Change, which was released in late February, “Global warming, reaching 1.5°C in the near-term, would cause unavoidable increases in multiple climate hazards and present multiple risks to ecosystems and humans.”
Alarming assessments like these are to be sure. But with Einstein’s words in mind, they also offer a glimmer of hope, because the report also says that “Climate change adaptation is greatly facilitated by science, technology, and innovation.”
And that’s where the opportunity lies.
Yael Zilberman is ClimateTech Sector Lead at Start-Up Nation Central. Photo by Miri Davewitz
Start-Up Nation Central, the organization where I work, has decided to make this global challenge a key focus sector and to grow the Israeli climate-tech ecosystem.
In our vision, climate tech can become the new cybersecurity – a field of innovation that the world identifies with Israel, a field where Israelis are thought leaders and Israeli companies are market leaders, a field that has an entire ecosystem that supports it and nourishes it.
We have what it takes
“A fine vision,” you may say, “but how do you make it happen?”
I’m not saying it will be easy, but many of the building blocks are already there. We have the minds, we have the tech, we have the awareness, both in Israel and worldwide – all the components needed for Israeli innovation to thrive.
The first step is to give the sector name and make people aware that it exists. Recently, Start-Up Nation Central published a ClimateTech Sector landscape map that includes more than 180 of the roughly 750 companies that have relevant technologies in the space, providing solutions to everything from renewable energy and energy efficiency to carbon sequestration, sustainable food production and circular economy.
Infographic courtesy Start-Up Nation Central
However, the potential is far greater. One of the most unique aspects of climate challenge market is the opportunity for virtually every innovator from all technology verticals. All industries must make themselves relevant to the global climate conversation.
There is every reason to believe that a company that produces an AI solution for monitoring employee attendance, for example, can relatively easily pivot so that the AI monitors efficient use of air conditioning, and thus contributes to measuring the company’s environmental footprint.
The same goes for sensor technologies, IoT solutions, or big data: Israel’s global leadership in cybersecurity, big data and data privacy realms will surely come in handy in a world where more electric utilities start monitoring and optimizing the incorporation of renewable energy resources at the customer level, without undermining security and privacy concerns.
Climate Solutions Prize
But innovation alone doesn’t create an ecosystem. To achieve this, we need larger collaborations that include additional players such as investors, multinationals, academia, and government.
That mission got an incredible push earlier this month when we – together with our partners JNF Canada, KKL-JNF, and the Peres Center for Peace and Innovation – launched the Climate Solutions Prize.
The prize is intended to encourage climate-tech innovation in Israel. It offers more than $2,000,000 in awards to scientists and companies who develop solutions.
We brought in some of the most innovative private companies in Israel to review the submissions and offer investment and partnership opportunities.
As Israeli President Isaac Herzog said during his address to the launch event participants – 250 of the country’s biggest climate leaders – “This prize excites the famous Israeli creativity and curiosity that turned us into the startup nation and compels us to live up to this reputation. This is Israel’s opportunity to be a global leader in meeting the challenge of climate change.”
There are the building blocks. There are hundreds upon hundreds of companies producing technology that is applicable to climate challenges. We also have scores of other companies that can pivot into this area.
A source for solutions
Capital investment in this field is increasing year after year. 2021 will see more than $1.7B invested in the sector.
Multinational companies are clamoring for climate-tech solutions. More countries and shareholders are demanding that companies achieve ESG (Environmental, Societal, and Governance) goals.
The Israeli government is a willing partner. They have set up new incubators, provided millions of dollars in investment for early-stage companies, and are working on legislation to support innovation.
As ClimateTech Sector Lead at Start-Up Nation Central, my goal is to, with many partners in Israel and around globe, help build up and fortify an ecosystem.
It is a big challenge, but as Einstein reminds me every day, it is also a huge opportunity – an opportunity to ensure Israel is at the cutting edge of a promising market, but even more importantly, an opportunity to make Israel a force of good in the world, to punch above its weight, and be the source of solutions that will help ensure Earth and its inhabitants’ continued survival.
I invite you to join me in turning this crisis into a chance and be part this exciting new chapter in Israeli innovation history.
Yael Zilberman is the ClimateTech Sector Leader Start-Up Nation Central, An Israel-based non-profit organization that promotes the Israeli innovation environment around the world.
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