Rezatec, the provider of satellite-based environmental information data products, has today announced it has been accepted to Stage three of the Climate-KIC’s UK Acceleration programme.
Climate-KIC is one of the Knowledge and Innovation Communities (KICs) created in 2010 by the European Institute of Innovation and Technology (EIT), the EU body tasked with creating sustainable European growth while dealing with the global challenges of our time. Since winning the Climate-KIC incubation award at ecoConnect’s Cleantech Innovate 2013 competition in February 2013, Rezatec has been participating in the Climate-KIC’s UK three stage Acceleration programme, which provides promising start-ups with the tools, opportunities and network to transform their ideas into commercial success.
Successful entry to Stage three assumes that a company has identified its markets, is already working with customers and is mainly focused on scaling its business model. An additional award of €50,000 assists in the development of the company through its client engagement and project work.
Andrew Burford, Entrepreneurship Lead at Climate-KIC UK, commented: “Rezatec has demonstrated all the signs that it has successfully transitioned from a start-up to a growth company with an expanding customer base that uses its data products to tackle a range of environmentally-driven business challenges.”
Upon completion of Stage 3, companies can then apply to become a Climate-KIC Associate Partner. These Partners are united in their objective to effectively combat climate change and, through the Climate-KIC based integration of research, business and technology, to transform innovative ideas into new products, services and jobs. Current partners include Sainsbury’s, Greenergy and Rothamstead Research.
Patrick Newton, Chief Executive Officer of Rezatec, said: “We continue to benefit greatly from the support provided by the Climate-KIC UK team and in line with the aims of the Acceleration Programme, Rezatec has just announced contract wins with a number of users from multiple industrial sectors. This commercial momentum has been supported and accelerated by our recently completed seed funding round which saw the company raise just under £1m in equity finance.”