Commerzbank has announced a partnership with startup incubator Tenity to launch a joint innovation accelerator focused on sustainable finance. The program aims to foster collaboration between startups and Commerzbank’s business units, promoting innovative solutions in key sustainability areas like biodiversity, real estate, and supplier management.
Climate-related startups are thriving despite a broader downturn in fintech funding, with Europe leading the charge, as highlighted by recent data from CommerzVentures, the venture capital arm funded by Commerzbank.
Bettina Storck, Head of Group Sustainability Management at Commerzbank, emphasized the importance of continuous development and innovation in driving the sustainable transformation of the financial sector. “The sustainable transformation of the financial sector is dependent on continuous development and regular innovation. We are convinced that the Joint Innovation Accelerator will generate precisely these innovations and further advance our commitment to sustainability,” Storck stated.
Running from September to October 2024, the accelerator will culminate in a demo day at the neosfer Impact Festival on October 30, 2024, in Frankfurt. Neosfer, Commerzbank’s early-stage investor and innovation unit, was rebranded in 2022 to sharpen its focus on sustainability and green tech firms. The incubator has already invested in several sustainable startups and continues to develop its own prototypes and venture-building projects.
Kai Werner, Managing Director of neosfer, highlighted the critical role of sustainable solutions in the financial sector’s transformation. “Sustainable solutions are becoming increasingly important in the financial sector. They are a key lever when it comes to the sustainable transformation of our economy. This makes it all the more important to identify new business models in this area and test them under the best possible conditions,” Werner explained.
