The Coming Age of CleanTech
I’ve talked a lot about the incredible potential of FinTech and why I think it will (help) change the world. By opening up the financial world and levelling the playing field FinTech is helping us take strides toward a world that is not so divided and is more interested in the common good. Considering this, it shouldn’t be surprising to see the connections that exist between FinTech and the new big player on the technology stage, CleanTech.
CleanTech may not be new (its origin dates back to the ‘80s) but it is rising in prominence, blazing in importance in the 2018 market and set to make a major impact. It also may prove to be our greatest asset, helping us maintain our existence in our modern world while limiting our carbon footprint.
As it continues to grow CleanTech will be interlinked with FinTech. I’ll look at why this week.
One of the reasons CleanTech and FinTech are interlinked should be obvious: money makes the world go ‘round. In order to perform research and run experiments CleanTech innovators need financial backing. Luckily for them, FinTech has revolutionized this field and they now have easier ways to uncover and access funding.
Equity crowdfunding is set to play a big part here, providing the new CleanTech initiatives access to funding they are unlikely to get through older funding conventions. This technology also gives them better access to millennial and women investors, groups that are underrepresented in venture capitalism but highly interested in sustainable investing.
Equity crowdfunding can prove to be very successful. Polysolar, a CleanTech company that use windows to generate electricity, raised over $1 million USD through the Crowdcube platform in less than a month. Keen Home, meanwhile, crowdfunded over $7 million USD last year.
GridShare is one of the portals to watch. This new crowdfunding platform is the first to be focused on CleanTech and renewable energy projects, which means it’s a good place for CleanTech startups and interested investors to set up shop. Watch as this platform grows, as it will bring forth amazing technologies that will help us create a cleaner world.
Another reason CleanTech and FinTech are linked? Like anything, CleanTech requires data and one of the innovations intertwined with FinTech will help this happen. Yes, big data plays an enormous role in the development and growth of CleanTech.
Big data, after all, helps startups sort through the massive amounts of information they see every day and find the patterns they need to properly use the data.
Look at MineSense. The company is using data analytics and its unique technology to offer important insights and improve mining’s sustainability.
Awesense is another important player using big data to improve our systems. Using what it calls the world’s most advanced grid analytics platform the company seeks to help uncover and solve problem areas in the distribution grid.
Such an important cause like the environmental movement needs a solid base of data and the advances in big data mean amassing this information is not so time-consuming. Time is of the essence, so we should all be grateful these technologies are on the case.
FinTech and CleanTech even attract the same hotspots. Canada, a growing FinTech hub, is actually set to be a major player in the growth of CleanTech, with Ontario leading the way. Already Ontario’s CleanTech industry is generating $8 billion annually. The federal government knows how important CleanTech will become in future years and in March introduced the International Business Development Strategy for Clean-Technology, providing funding to support the burgeoning industry and cement Canada’s place in the field.
Sustainable Development Technology Canada serves as a great example of the forward steps Canada is taking to establish itself in the CleanTech field. The initiative, led by Leah Lawrence and funded by the Government of Canada, helps to bring CleanTech technologies to market and in turn is helping grow our economy and clean our planet.
Canadian startups are also helping improve vital areas like solar power (Morgan Solar), polystyrene recycling (Polystyvert) and farming (Farmers Edge). Canadian entrepreneurs are making real breakthroughs that will go a long way towards greening up the planet.
This push to position Canada as a FinTech-CleanTech hub is very smart, as these are the industries that will shape the future and the initiative is one that should inspire that true Canadian pride.
2018 is set to be an exciting year full of discoveries and business launches that make us pause and appreciate the amazing work these entrepreneurs have done and are doing. Although neither CleanTech nor FinTech are new, they are really coming into their own and will leave a solid imprint on the market and world this year.
Their innovations are desperately needed and I look forward to seeing them work their magic.
CleanTech and FinTech both illustrate the life-changing power that exists in technology and their interactions will bring about advancements that will help us reach a better tomorrow.