How Amazon Chose Its 2023 Sustainability Accelerator Participants

Isobel Wilson, the Program Lead for Amazon's Sustainability

In 2023, Amazon's Sustainability Accelerator has been dedicated to backing startups pioneering in recycling tech, like cutting-edge sorting equipment and waste management analytics, and providing eco-friendly consumer products. "Our approach at Amazon is customer-centric. When shaping this initiative's blueprint, I prioritized understanding the needs within the climate tech startup domain and identifying areas of assistance," commented Isobel Wilson, the head of Amazon's Sustainability Accelerator. 

The accelerator's aim is to navigate and solve dominant hurdles for climate tech startups. This includes perfecting investor pitches, accurately assessing potential environmental impact with strict scientific methods, and deeply comprehending their clientele.

Out of an overwhelming 1,400 applicants this year, a select group of 16 standout startups were chosen for the accelerator's intensive 12-week course. Their selection was based on a thorough assessment considering their problem-solving approach, product creativity, environmental impact, team dynamics, initial market presence, competition awareness, and defensive tactics.

Wilson, detailing the selection process in partnership with Climate-KIC, said, "Transitioning from 1,400 companies to the chosen 16 required teamwork. Our process involves startup interviews, rigorous evaluations, and estimating potential climate implications."

One exemplary startup, Funq Liquids, offers a concentrated beverage solution that consumers dilute at home, potentially slashing carbon footprints by about 85% by reducing plastic packaging and water transportation. Wilson emphasized their potential by noting, "Their team's prior experience with Coca Cola's innovation sector convinced us of their capability to evolve their product and penetrate the market."

The panel selecting participants consists of experts like Phoebe Wang from Amazon's Climate Pledge Fund, Ben Honan of Climate-KIC, and Kristy Macdonald from Jam Jar VC.

 

In 2023, the group included 10 product-focused ventures and 6 recycling tech enterprises. This included France's Induo, known for converting old textiles into fresh clothing, and the UK's Matoha, which has crafted a device for precise waste categorization. 

Wilson expressed enthusiasm for Nimbi from the UK, pioneers in compostable razors using biomaterials, and Germany's We Do Solar, who are innovating with easy-to-install balcony solar kits. 

Throughout the intensive 12-week course, participants get:

1. Comprehensive workshops touching upon core business aspects, ranging from crafting financial statements to understanding team growth and scalability.

2. Valuable mentorship provided by a vast network of over 100 investors from relevant sectors, offering diverse insights and experience. 

3. An all-inclusive financial package exceeding £30,000 in value to assist startups in reaching their aspirations.

Wilson observes that many climate tech startups often overlook the genuine impact of their ventures. During the accelerator's conception, there was a collaboration with EIT Climate-KIC to pinpoint businesses with maximum climate benefit. "We employed the Climate Impact Forecast tool, which uses lifecycle data to gauge, display, and amplify a company's carbon-saving potential," says Wilson. She emphasizes the importance for founders to truly grasp their impact metrics in a field awash with varied tools.

But beyond just knowledge and metrics, Wilson believes perseverance and determination are crucial traits for founders. "It's essential for them to remain steadfast and passionate even after countless rejections," she notes. A saying Wilson recalls, "ideas are cheap, execution is expensive," underscores her belief that the real value lies in the hard work, not just impressive presentations.

This Sustainability Accelerator is part of Amazon's broader efforts to meet its environmental commitments, aiming for a carbon-neutral footprint by 2040 and transitioning to 100% green energy by 2025. Additionally, AWS has ambitions to be water-positive by 2030, ensuring it gives back more water than it consumes.