UOB FinLab, Innovation Accelerator United Overseas Bankhas provided more than S$100,000 in funding to green tech companies.
The funding will support 15 sustainability solution pilots in collaboration with UOB and its corporate partners across South East Asia.
The initiative was announced as part of the GreenTech Accelerator 2024 Showcase Day. singapore fintech festival.
The GreenTech Accelerator program, now in its second year, is helping ASEAN GreenTech companies develop and implement solutions to the region’s sustainability challenges.
This year, 33 companies – 12 from Singapore, nine from Malaysia and 12 from Thailand – were selected from over 350 applicants to participate in the program for six months.
UOB’s 2024 Business Outlook Survey revealed that 87% of ASEAN companies consider sustainability important, but only 44% have adopted green practices.
UOB and 26 corporate partners contributed over 50 issue statements, covering five key areas: circular economy and waste management, energy efficiency, food and agriculture, sustainable cities and urban planning, and sustainability reporting and carbon management. I worked on it.
The selected pilot projects will be rolled out in collaboration with corporate partners with six pilots in Singapore, three in Malaysia and six in Thailand.
UOB Fin Lab plans to continue supporting sustainability innovation in ASEAN with further programs in 2025.
Shannon Lunn, Director of UOB FinLab, said:
“GreenTech Accelerator 2024 demonstrates our continued commitment to building a sustainable future by leveraging collective action and collaborative professional networks that drive further advances in GreenTech.
UOB FinLab continues to be a catalyst for green tech innovation by bringing together individuals, businesses, government agencies and green tech to tackle real-world sustainability challenges. ”
Featured image credit: Edited from freepic
