A new crop of climate-adaptation companies is coming to New York City to grow.
“Adapting to climate change needs really to be aware of what’s going on in the field at a local level with genetics but also with data,” said Martin Ducroquet, the co-founder of Sencrop, a company that offers farmers new tools to monitor weather conditions and maximize their yields.
Sencrop is one of dozens of startups setting up shop at the new International ClimateTech Center in SoHo, a partnership between UrbanX — a platform for new companies reimagining city life — and Jerusalem Venture Partners.
“The revival of New York after Covid, and the rise of New York to being an innovative center to take over San Francisco is something that is very interesting for us,” said Erel Margalit, founder and chairman of Jerusalem Venture Partners and Margalit Startup Cities.
Another company receiving venture capital is Copilot.
By offering customer support in the electronics sector, it aims at reducing product returns, which have a devastating impact on the environment.
“All those millions of products being shipped, 10% of them are being returned. Now, mind you, most of those being returned are actually going to the bin, the trash bin,” said Frank Zvi, founder and CEO of Copilot.
A shared space for all these companies and their employees is thought to be key for their success.
“We are suggesting to companies that if they are inventing, if they are doing something new, then being back in the office makes them that much more effective,” Margalit said.
The hub’s founders hope that these companies can scale their sustainable solutions and turn New York City into the green investment capital of the world.