EIT Climate-KIC Start-up Accelerator Sub-Award Letter

All accepted Applicants will have to sign the Sub-Award Letter, an agreement in which you recognise acceptance in the programme and state that you will participate in all activities, as they are explained.

Climate-SAFE Agreement

The ClimAccelerator operates under a three-stage process. Companies that are selected to progress to Stage 2 will receive investment from EIT Climate-KIC in the form of our Climate-SAFE. From 2022, Climate-KIC will be investing in all EIT-funded Stage 2 ClimAccelerator Start-ups with our new Climate-SAFE investment agreement.

The Climate-SAFE is a Simple Agreement for Future Equity – a convertible investment. The Climate-SAFE has been designed as a founder-friendly, and efficient means for Climate-KIC to invest in Europe’s most exciting Climate-tech companies.

The Climate-SAFE is a €50,000 investment that is made up of cash via the ClimAccelerator grant, access to Stage 2 of the ClimAccelerator and an additional services package provided by the Climate-KIC team to support the start-ups once they have graduated from the ClimAccelerator programme.

The key terms of the Climate-SAFE are:

  • €50,000 value – each ClimAccelerator programme will receive 20% of the proceeds from a liquidity event of a start-up that graduated from their programme. This money can be used to fund the programme itself, or other Climate Action activities.
  • 24 month long-stop date
  • No valuation cap – we don’t want to limit the valuation of any future funding rounds!
  • €250,000 qualifying round – The Climate-SAFE will only convert when you raise a round over €250k
  • 20% discount rate – We will not ask for anything other than market standard discounts.
  • No most-favoured nation clause

The Climate-SAFE is structured as a cash + services investment and grants access to the following package of support:

  • Access to ClimAccelerator Stage 2 (including €20,000 funding)
  • Carbon Impact Forecasting, Modelling and Validation
  • Access to ClimateHIVE community
  • Fundraising support & connections to Climate-KIC investor network
  • Commercialisation Opportunities – Connecting start-ups to relevant commercial opportunities across Climate-KIC activities and partners
  • EU Policy & Affairs support – Connecting start-ups to EU policy updates and opportunities within the European Commission
  • A dedicated portfolio manager – All start-ups will have a dedicated portfolio manager working with you throughout to ensure easy access

If you have any questions, please contact the Climate-KIC Investment team on [email protected]