Israeli Heat Sparks Climate-Tech: 2023 Highlights

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by KnowESG
KnowESG_Climate tech innovation in Israel
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On a scorching summer day, amidst a relentless heatwave in Israel, the stage was set for an extraordinary event. The 2023 World Climate-Tech conference took place in the captivating Margalit Startup City in Jerusalem, where attendees were keenly aware of the global concern surrounding climate change.

As temperatures soared, the participants, including fintech and foodtech startups, tech companies, government officials, ambassadors, and investors, gathered in whatever shade they could find. Engaging in spirited discussions about pressing environmental issues and ingenious solutions, they were ready to invest in potential answers to the world's climate challenges.

In collaboration with climate-tech accelerator Urban-X, a subsidiary of BMW's MINI, the conference was spearheaded by the renowned Dr. Erel Margalit. A former member of Israel's parliament, a successful business tycoon, and the head of the JVP investment firm, Dr. Margalit united thought leaders, CEOs, and diplomats from across the globe. Together, they sought to confront climate change head-on and explore economic opportunities in sustainable, intelligent, and revolutionary technologies.

Among the attendees were ambitious startups like Balena, a material science company specialising in developing compostable and biodegradable polymers for the fashion industry, and Kinoko, a pioneering food-tech company cultivating zero-waste food products using fungi and minimal water.

The event not only aimed to foster investment opportunities but also served as a platform to raise awareness about the escalating waste culture. Bar Stefansky, the visionary founder of Creative Change, took a bold stand against "fast fashion" and single-use waste by showcasing models wearing clothing crafted from repurposed food delivery bags, bottle caps, and even cigarette butts.

Dr. Margalit emphasised the conference's impact-driven agenda, emphasising the importance of amalgamating technologies and industries to combat the climate crisis. Fintech and climate, AI and climate, food-tech and climate – a harmonious blend of these fields, along with smart city technologies, can lead the world toward a sustainable, high-tech economy that advocates for the planet and alternative energy.

A significant topic of discussion was the need for robust cybersecurity strategies in the age of electric vehicles. Roy Fridman, CEO of cybersecurity company C2A, partnered with MINI to address the emerging security threats related to electric mobility. He stressed the potential consequences of a lack of cybersecurity, painting a vivid picture of the catastrophic outcomes that could result from malicious hacking.

Global ambassadors and national leaders also graced the event, underscoring the significance of governmental policies that support and subsidise the free market. Cooperation among nations, particularly for small countries like Israel, was deemed crucial to achieving success in the pursuit of innovative climate-tech solutions.

The private sector, however, remains the primary driver of change, particularly when crises present lucrative opportunities. Michael Keller, head of brand and business strategy at MINI, reaffirmed the brand's commitment to sustainability, going beyond merely manufacturing cars. MINI sought to make a positive impact on society and urban cities by associating the brand with more than just their products.

The World Climate-Tech conference was just one stop in a broader climate tech tour that began in New York City before making its way to Jerusalem. The journey will continue throughout Europe, culminating at the COP28 summit in the UAE. Urban-X and JVP will further their mission by launching their next cohorts in their respective accelerator programmes, offering countless startups the chance to contribute to the fight against climate change.

In a world plagued by environmental challenges, the 2023 World Climate-Tech conference showcased how collaboration, innovation, and sustainability can pave the way for a brighter, greener future. It served as a reminder that when industries, governments, and individuals come together, they can usher in a new era of progress in the battle against climate change.

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Source: The Jerusalem Post


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