- Brinc startups to quantify their impact via Rho Impact’s tools
- Rho Impact will provide a workshop on their tools, which can help startups appeal to venture capitalists (VCs) and customers by demonstrating the impact of their technology on fighting climate change
HONG KONG, March 21, 2023 /PRNewswire/ — Brinc, a global venture accelerator committed to creating a more sustainable, equitable and inclusive future; and Rho Impact, an ESG advisory and software company with roots dating back to 2012, have commenced a strategic alliance to help selected Brinc startups quantify their potential climate impact and influence on global emissions levels.
Rho Impact will lead a workshop for Brinc’s climate tech and food tech startups covering essentials of impact measurement methodologies. In particular, Rho’s team of experts will provide a review of their tool, CRANE (carbon reduction assessment for new enterprises), and support startups on preparing custom technology modules as needed.
The European Union’s recent regulations around impact assessment represent one example of a growing trend of stricter criteria for impact reporting by VC investors. Despite uncertainties inherent to the process, startups who can clearly identify and quantify their potential for GHG emissions reduction at scale have a storytelling advantage when fundraising.
There is an inherent challenge for startups compared to public companies due to assessment being more forward-looking. Nevertheless, it’s critical that startups understand how significant their climate impact can be if wildly successful and set appropriate benchmarks as compared to alternatives.
Manav Gupta, CEO and Founder of Brinc, said “If a company can properly frame the goals they are working towards, they are more likely to achieve them. Furthermore, successful startups will eventually become public companies subject to clear GHG accounting and reporting standards and need to be able to track their operations internally and validate the output with external auditors. We believe in introducing these guidelines and relevant tools early to set companies and teams on the right track for long-term financial security, and to maximize their carbon reduction potential.”
Noah Miller, Founder and Head of Advisory Services, at Rho Impact said “Any startup that can quantify the impact they’ll have on customer outcomes and society at large will have a competitive advantage in the marketplace, as both investors and customers alike are seeking greater sophistication, granularity, and auditability for both their impact narrative and numbers.”
Startups involved in Brinc’s 12-week Climate Tech accelerator program – which will run for the first time in spring 2023 – will also receive investment of US$150,000, one-on-one tailored support from a global community of mentors, and networking opportunities with potential follow-on investors and corporates.
Headquartered in Hong Kong, Brinc is a leader in global venture acceleration and operates 13 multidisciplinary accelerator programs across seven countries. Brinc accelerates startups focused on blockchain technology, artificial intelligence, connected hardware, robotics, climate tech, clean energy, food technology, and Internet of Things (IoT) with a view to creating a more sustainable, equitable, and inclusive future.
Brinc also supports corporations with investment services, distributed innovation strategies, sourcing of new startups and technologies, as well as venture-building Web3-enabled businesses. Global corporations (Manulife, Huawei, Schneider Electric, Puma, Batelco, Merck, Omantel, Linrun Group, Zhihui Park), government organizations (Hong Kong Science Park, NEOM, MBRIF, Guangdong Soft-tech Park), tertiary institutions (HK City University, National University of Singapore) and leading venture funds (Artesian, LeverVC, Tamkeen, EDB) have all run programs with Brinc. In 2021, Brinc announced a series of venture funds to invest in high-potential early-stage companies through accelerators and provide LPs with a dedicated innovation platform and access to Series A+ co-investment opportunities.
Learn more about Brinc
About Rho Impact
Rho Impact’s mission is to empower every organization to make an impact. They deliver software and services to accelerate the adoption and implementation of ESG and Impact programs around the world. With roots dating back to 2012, Rho Impact combines the art and science of ESG and Impact planning, tracking, and reporting through purpose-built tools such as Gemini and CRANEtool.org along with hands-on advisory services. Rho Impact partners with some of the world’s leading impact-focused organizations and contributes to a variety of open access tools, frameworks, and non-profits. For more information, please visit www.rhoimpact.com
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