{"id":641154,"date":"2024-10-10T10:44:02","date_gmt":"2024-10-10T07:44:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/why-dubai-based-vcs-are-looking-to-invest-in-european-climate-tech\/"},"modified":"2024-10-10T10:44:02","modified_gmt":"2024-10-10T07:44:02","slug":"why-dubai-based-vcs-are-looking-to-invest-in-european-climate-tech","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/why-dubai-based-vcs-are-looking-to-invest-in-european-climate-tech\/","title":{"rendered":"#Why Dubai-based VCs are looking to invest in European climate tech"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3da7865037b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3da7865037b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/why-dubai-based-vcs-are-looking-to-invest-in-european-climate-tech\/#Dubais_response_plan\" >Dubai\u2019s response plan<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/why-dubai-based-vcs-are-looking-to-invest-in-european-climate-tech\/#What_this_means_for_climate_tech_startups\" >What this means for climate tech startups<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/why-dubai-based-vcs-are-looking-to-invest-in-european-climate-tech\/#What_comes_next\" >What comes next<\/a><\/li><\/ul><\/nav><\/div>\n<div id=\"article-main-content\">\n                            Rising temperatures and unpredictable weather patterns have become a pressing concern within the UAE. In April, Dubai experienced its heaviest rainfall in 75 years over a 24-hour period, triggering floods and chaos. A team of researchers from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/04\/25\/climate\/dubai-floods-climate-weather-analysis-int\/index.html\">World Weather Attribution<\/a> initiative reported that this event was driven partly by the climate crisis which was bringing on a 10%-40% intensity in rainfall levels.<\/p>\n<p>On July 20, temperatures also hit a high of 42 degrees centigrade at Dubai International Airport, according to data from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/investing\/commodities\/2024\/07\/30\/dubais-brush-with-60c-feels-like-heat-shows-dangers-ahead\/\">US National Weather Service<\/a>. However, intense humidity that day compounded the heat to make it feel like more than 62 degrees.<\/p>\n<p>Due to its desert landscape and proximity to the Persian Gulf, the city is particularly susceptible to extreme weather, putting climate impact top of mind. But Dubai\u2019s climate also presents opportunities for climate tech innovation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dubais_response_plan\"><\/span><strong>Dubai\u2019s response plan<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dubai is increasingly focused on driving significant sustainable transformation across various industries. At last year\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/unfccc.int\/cop28#:~:text=Having%20shown%20that%20progress%20was,to%20accelerate%20action%20across%20all\">COP28 conference<\/a>, there was a consensus that progress was too slow across all areas of climate action \u2014 from reducing emissions and building resilience within the changing climate to getting the financial and technological support to nations in need \u2014 and the host city is now responding with policies and decisions on how to accelerate climate action for the near future.<\/p>\n<div class=\"inarticle-wrapper latest channel-cta hs-embed-tnw\">\n<div id=\"hs-embed-tnw\" class=\"channel-cta-wrapper\">\n<div class=\"channel-cta-img\"><img decoding=\"async\" class=\"js-lazy\" src=\"https:\/\/s3.eu-west-1.amazonaws.com\/tnw.events\/hardfork-2018\/uploads\/visuals\/tnw-newsletter.png\"\/><\/div>\n<p><img decoding=\"async\" src=\"https:\/\/s3.eu-west-1.amazonaws.com\/tnw.events\/hardfork-2018\/uploads\/visuals\/tnw-newsletter.png\"\/><\/p>\n<div class=\"channel-cta-input\">\n<p class=\"channel-cta-title\">The <\/p>\n<p class=\"channel-cta-tagline\">The latest rumblings from the EU tech scene, a story from our wise ol&#8217; founder Boris, and some questionable AI art. It&#8217;s free, every week, in your inbox. Sign up now!<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.ae\/en\/about-the-uae\/strategies-initiatives-and-awards\/strategies-plans-and-visions\/environment-and-energy\/the-uaes-green-agenda-2030\">UAE\u2019s Green Agenda 2030<\/a> was launched to increase its GDP by 4% to 5%, increase exports by about AED 24 to 25 billion, and greatly reduce the country\u2019s emissions. This long-term plan is centered around creating a competitive knowledge economy, as well as a sustainable environment and valued natural resources. By 2030, the agenda proposes to bring about clean energy, green life, and sustainable use of resources.<\/p>\n<p>Building on this journey towards sustainable innovation, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/u.ae\/en\/about-the-uae\/strategies-initiatives-and-awards\/strategies-plans-and-visions\/environment-and-energy\/the-uae-net-zero-2050-strategy\">UAE\u2019s Net Zero 2050 strategy<\/a> is designed to act as a stimulus for economic and societal advancement by leading the transition to net zero emissions. This is expected to create 200,000 job opportunities across the solar, battery, and hydrogen sub-sectors, as well as enhance prospects for growth.<\/p>\n<p>The Net Zero strategy has over 25 programs across the power, industry, transport, buildings, waste, and agriculture sectors. These will focus on improving efficiency, implementing sustainable transportation and green building practices, incorporating nature-based solutions, and employing carbon capture technologies.<\/p>\n<p>To enable this ecosystem to thrive, the UAE is looking to implement climate finance mechanisms, develop new technologies supported by research and development, and establish a dynamic upskilling and capabilities plan for businesses in the sector.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_this_means_for_climate_tech_startups\"><\/span><strong>What this means for climate tech startups<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the emphasis on entrepreneurship and innovation was a focal point of COP28, Dubai and the wider UAE are transitioning to a more diversified economy and setting up the right infrastructure for startups and innovators. By <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lying their expertise, founders can work towards translating these national policies into actionable practices.<\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/moiat.gov.ae\/en\/media-center\/news\/2023\/05\/04\/technology-and-innovation-report#:~:text=The%20UAE%20was%20ranked%2037th,skills%2C%20and%20access%20to%20finance.\">Frontier Technologies Readiness Index 2023<\/a>, released by the United Nations, ranked the UAE as the top Arab country ready to adopt advanced technologies, such as AI with a focus on green innovation. Climate tech startups in the region also attracted about two-thirds of total funding in MENA between 2018 to 2022, accounting for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fastcompanyme.com\/news\/climate-tech-funding-in-the-menat-region-is-growing\/\">$401 million<\/a> \u2014 equivalent to 62% of total regional investment during the five-year period.<\/p>\n<p>In a major step forward for climate action, the EU launched the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.eeas.europa.eu\/delegations\/united-arab-emirates\/european-union-launches-%E2%80%98eu-gcc-green-transition-project%E2%80%99-world-future-energy-summit_en\">EU-GCC Cooperation on Green Transition<\/a> project. This project aims to create a joint platform to exchange best practices and expertise between the EU and the Gulf Cooperation Council stakeholders, promoting and adopting technologies that support the Gulf\u2019s green transition, and fostering a collaborative business environment between EU climate tech companies and their counterparts in the UAE.<\/p>\n<p>Europe\u2019s tech founders and entrepreneurs can benefit from the UAE\u2019s climate industry access by aligning their business plans with its sustainability strategies.<\/p>\n<p>For example, when the waste management app <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/theenterpriseworld.com\/full-bin-mena-sustainable-waste-management\/\">Full Bin<\/a> announced its move to Dubai from Sweden, it developed sensors that monitor waste bin fullness, locations, temperature, and movement, enabling real-time, data-driven waste collection. German aircraft manufacturer, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.volocopter.com\/en\">Volocopter<\/a>, is also launching the world\u2019s first sustainable and scalable urban air mobility business this year, with plans to operate in Dubai.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_comes_next\"><\/span><strong>What comes next<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure class=\"post-image post-mediaBleed aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1410972 aligncenter js-lazy\" alt=\"Expand North Star Dubai Expo floor\" width=\"900\" height=\"454\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2024\/10\/R4_0033-2.jpg\"\/><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1410972 aligncenter\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2024\/10\/R4_0033-2.jpg\" alt=\"Expand North Star Dubai Expo floor\" width=\"900\" height=\"454\" srcset=\"\"\/><\/figure>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.gitex.com\/News\/most-innovative-european-and-british-startups-to-take-over-dubai-this-october-with-their-largest-presence-ever-at-expand-north-star\">Expand North Star Dubai<\/a> is offering an exceptional platform for climate tech startups to explore new opportunities in the thriving Dubai and UAE markets. This year\u2019s edition, which takes place at Dubai Harbour from October 13-16, introduces several innovative events for climate tech startups and unites some of the most sought-after investors and business leaders to explore the exciting opportunities emerging in Dubai while energising the future of the digital economy.<\/p>\n<p>The lineup of investors also includes the deep biotech fund H Tree Capital from the UK, the Estonian accelerator and fund Startup Wise Guys, the Portuguese research and developed-focused venture capital M4 Ventures, as well as VC giants like Climeworks, the Swiss unicorn backed by Microsoft Climate Fund and the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> provider holding a 10-year carbon removal offtake agreement to support Microsoft\u2019s commitment to become carbon negative by 2030.<\/p>\n<p>Participants at Expand North Star Dubai can also enter the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.expandnorthstar.com\/DMCCxAGCC-Global-AI-Challenge-Sustainability-Edition\">Sustainability Pitch Battle<\/a> for a chance to compete for a $100,000 prize. The DMCC x AGCC: Global AI Challenge Sustainability Edition, will be aimed at discovering and showcasing AI-driven innovations with a positive impact on the GCC region.<\/p>\n<figure class=\"post-image post-mediaBleed aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1410971 size-full js-lazy\" alt=\"Sustainability pitch battle at Expand North Star in Dubai\" width=\"900\" height=\"403\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2024\/10\/OSC23380.jpg\"\/><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1410971 size-full\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2024\/10\/OSC23380.jpg\" alt=\"Sustainability pitch battle at Expand North Star in Dubai\" width=\"900\" height=\"403\" srcset=\"\"\/><\/figure>\n<p>The largest AI-focused startup competition at Expand North Star 2024, this challenge invites startups, research teams and developers to present their most advanced AI solutions, demonstrating the potential to create positive change and scalability in the region. This will help uncover groundbreaking strategies that can contribute to the UN Sustainable Development Goals and create measurable, positive change.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/news\/dubai-vcs-invest-european-climate-tech\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising temperatures and unpredictable weather patterns have become a pressing concern within the UAE. In April, Dubai experienced its heaviest rainfall in 75 years over a 24-hour period, triggering floods and chaos. A team of researchers from the World Weather Attribution initiative reported that this event was driven partly by the climate crisis which was&#8230;<\/p>\n","protected":false},"author":1,"featured_media":641155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/tnw-blurple?filter_last=1&fit=1280%2C640&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F10%2FUntitled-design-6.jpg&signature=c7162f1aca003b3abbf1613796af51b5","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-641154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/641154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=641154"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/641154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/641155"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=641154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=641154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=641154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}