October 6, 2022 | By Barak Ben-Avinoam, CEO of NetZero Technology Ventures & Managing Partner BGV Israel
At Net Zero Technology Ventures, our mission is to advance technologies that bring humanity to zero net carbon emissions.
That’s a lofty goal, but we believe that it’s achievable.
Net Zero is a pre-seed investment incubator jointly funded by the private sector and the Israel Innovation Authority, a government agency that provides tools and funding platforms to address the needs of local and international innovation ecosystems. Our private sector partners include global leaders Total Energies and Schneider Electric and a host of major players in the oil, gas, renewable energy, and venture capital sectors.
Benhamou Global Ventures (BGV), where I am a managing partner for Israel, is a founding member of Net Zero. BGV saw an opportunity to bring Israel’s formidable engineering talent pool to the renewable energies space to make a meaningful impact in climate technology. Given the embryonic state of this ecosystem, BGV would have to work with public and private partners, focus investments upstream at the seed stage, and diversify from Soft Tech companies to Hard Tech.
BGV and Net Zero work together synchronously: Net Zero leverages access to top talent and facilitates relationships with industry entrepreneurs while BGV provides its deep experience in cross-border investing, fundraising, and company building.
The Global Climate Tech Ecosystem
Net Zero’s vision is to build a global community of Climate Tech entrepreneurs, investors, and multinational corporations with the goal of creating a global climate tech ecosystem in Israel.
Israel is the home to the greatest number of startups per capita in the world, the result of abundant human capital and a thriving spirit of innovation. That energy has led multinational corporations to establish more than 350 Research and Development centers in Israel, many of them by Fortune 500 companies.
Support and Guidance for Startups
Net Zero’s strategic LPs bring domain expertise in the traditional energy industry (Delek, Total, Eran Group) as well as the renewable energy sector (OSEG, Blue Minds Group, IP Innovative Power) .
Our goal is to work with companies that share in the Israeli government’s goal of a net zero carbon future by the year 2030.
All of our investments have undergone a thorough due diligence process and we match our founders and entrepreneurs with appropriate mentors to help them grow as executives and individuals.
As well, we laser focus on proof of concept documents to ensure that a founder’s brilliant idea has a chance of proving itself in the marketplace.
We also expose our associated companies to design partners who can provide valuable feedback on their product and help them fill in the gaps where their offering is lacking.
Finally, Net Zero sponsors a startup pilot program in which we test big ideas on a small scale to make sure the concept is market resilient.
A Community of Like-Minded Entrepreneurs
Net Zero can’t accomplish all of these ambitious goals alone, which is why we have an important strategic partnership with Ignite the Spark, an Israeli organization that promotes the state’s Green Energy Sector.
Based in Tel Aviv, Ignite the Spark’s mission is to make Israel a global leader in energy tech innovation and serve as a community of conversation and collaboration for stakeholders.
The organization gathers data on all of its 200 startup members and maintains an up-to-date ecosystem market map. In addition, Ignite the Spark sponsors events and cutting edge workshops to nourish the future generations of energy entrepreneurs.
Since Net Zero’s inception, we have been working with Ignite the Spark to support disruptive technologies and initiatives in the energy sector. On February 13, 2023, Ignite the Spark will be hosting its annual Israeli Energy Tech All Stars as part of OurCrowd’s Global Investors Summit.
The Ignite the Spark event will feature 10 Israeli energy tech startups who will pitch leading investors, international VCs, and multinational corporations from around the world. It will also include panel discussions and a keynote address. To register for the event, click here.
