Rezatec, the satellite and environmental data products provider, has been named a finalist for the Climate-KIC UK Venture Competition 2013 which recognises the best UK climate related start-ups providing solutions for climate adaptation and/or mitigation.
The event, to be held on Monday 2 September 2013 at the Royal College of Music, South Kensington, London, will see eight finalists each present a five minute pitch to a distinguished panel of investors. Two winners will be selected by the panel and they will be awarded prizes of €20,000 each plus a place to the European final in Wroclaw, Poland on 22nd October 2013.
Rezatec’s software platform allows its customers to better respond to challenges presented to their land assets by environmental and climate change. It does this by collating data sourced from multiple satellites, incorporating ground-based data and other ancillary datasets, and processes it all against scientific models and algorithms to deliver commercial Earth InformationTM data products, analysed and visualised using Geographic Information Tools (GIS), for non-science users. For example, for investors in forest carbon credits the platform automates the calculation of carbon stock values and reduces transaction costs by up to 80%.
In addition, since winning the Climate-KIC incubation award at ecoConnect’s Cleantech Innovate 2013 competition in February, Rezatec has been participating in the Climate-KIC Acceleration programme which provides promising start-ups with the tools, opportunities and network to transform their ideas into commercial success.
There are three stages to the Acceleration programme:
- Stage one – Initial business planning and financial modelling with access to a business coach, master classes and up to €20,000.
- Stage two – Verifying assumptions with potential clients with more expert business support, up to €25,000 and the opportunity to enter the Venture Competition.
- Stage three – Gaining traction with customers and/or investors with more training and master classes and up to €50,000.
Rezatec has this month progressed to stage two of the programme.
Finally, Rezatec has been invited to become a member of the Imperial College London Incubator in South Kensington subsidised by Climate-KIC which includes general business support and services such as hot-desking and access to meeting rooms.
Andrew Burford, Entrepreneurship Lead at Climate-KIC, Imperial College London, commented “Rezatec is a perfect example of the type of small business that Climate-KIC programmes have been designed to help support. Through its commercial application of satellite data it is able to offer vital decision-making information to organisations faced with problems caused by the impact of climate change.”
Patrick Newton, Chief Executive Officer of Rezatec, said: “Being named a finalist in the UK Venture Competition is a great achievement for Rezatec and very important validation of our business proposition. Climate-KIC has also provided invaluable mentoring and guidance for us, supporting our drive to accelerate growth over the last six months and the invitation to join Imperial’s Incubator enables us to further scale the business over the next six months.”