Expressions of interest are open until March 22, 2023. Seats are limited and selected companies will be contacted by the Swedish-American Chamber of Commerce in New York.
Companies applying to the program must:
- Have a product or solution in energy efficiency or PropTech that is ready to be scaled up in the U.S. market
- Have an ambition to internationalize and establish/sell in the US market.
- Be small or medium sized companies as defined by the EU.
Why New York?
The Biden Administration’s historically comprehensive and well-funded Inflation Reduction Act (IRA) includes several goals to create a greener and more energy efficient infrastructure that impacts the commercial real estate market.
New York State has simultaneously promulgated a goal of achieving carbon neutrality by 2050 and penalties on commercial buildings that do not reduce their emissions in established increments effective immediately. New York City has over 6 million properties that are in need of new technology to meet these goals and is seeking effective solutions. The climate goals create incentives to build energy efficient buildings and to retrofit older buildings to achieve higher energy efficiency standards. This creates an interest in skills and innovation in the PropTech sector – not least international ones – which creates new and extensive opportunities for Swedish companies.
What do you get?
The program runs throughout 2023 and builds on both the Swedish Energy Agency’s and SACCNY’s established relationships with key players in New York as well as the identified need in the market. The program includes:
- A kick-off meeting in Stockholm in April (tentatively during week 16, exact date TBD),
- A hybrid accelerator programme,
- A development trip to New York in May (tentatively in week 19, exact dates TBD)
- and events in New York during Climate Week in September (exact date TBD).
The accelerator program consists of four parts: intercultural coaching, pitch training, legal and recruitment, and growth strategy with associated B2B matching. Companies accepted into the program will also have access to SACCNY’s co-working space Gateway in 2023, where they can take advantage of the office landscape, BOS services and amenities such as access to high-tech conference facilities.
The launch in Stockholm will take place over two days and will serve as a kick-off for the program and a market introduction, as well as a start to the acceleration program. The launch will begin with a half-day event with leading real estate investors, owners and developers. Companies will have the opportunity to introduce themselves and network with representatives from both the Swedish and US real estate sectors.
The development trip to New York aims to introduce Swedish solutions that can contribute to the city’s most pressing environmental, social and political needs and strengthen the city’s commercial, residential and public infrastructure. The trip includes visits to local companies, research institutes and government agencies. In addition, SACCNY will organise an event at the Gateway where companies will have the opportunity to present their pitches to investors and other key stakeholders with networking opportunities.
Climate Week 2023 in New York will take place from 18-24 September. To conclude the program, SACCNY, in partnership with the Swedish Energy Agency, will host an event at the Gateway, featuring panel discussions and distinguished speakers, as well as the opportunity for companies to pitch their ideas and businesses.