Breakthrough Energy Unveils New Global Cohort of Climate Entrepreneurs
Overview of 2024’s Breakthrough Energy Fellows Program
In a year marked by economic uncertainty, global trade tensions, and changing policy landscapes, Breakthrough Energy, founded by Bill Gates, is adapting its approach to fostering innovation in climate technology. This year, the organization continues to focus on nurturing startups dedicated to solving climate challenges while also reassessing its strategies and operations.
Adaptation Amid Global Challenges
As part of its transformation, Breakthrough Energy disbanded its policy team in March and ceased funding a publication that focused on the climate tech sector. Despite these changes, the organization remains committed to its core mission and is actively investing in emerging startups. Central to this initiative is the Breakthrough Energy Fellows program, which is welcoming a new cohort comprised of 45 fellows across 22 startups.
A Diverse and International Cohort
Recognizing the need for a broad and multi-perspective approach to climate issues, the new cohort reflects a significant global dimension. According to Ashley Grosh, Vice President at Breakthrough Energy, this is the most internationally diverse group to date, with 50% of participants based outside of the United States. The cohort includes eleven teams from the U.S., six from Asia, and others from Canada, Germany, the United Kingdom, and South Africa.
The expansion into international markets aligns with Breakthrough Energy’s recent establishment of a fellowship hub in Singapore. Launched in August 2024 in partnership with Temasek, Singapore’s national investment firm, and Enterprise Singapore, this hub underscores the organization’s commitment to fostering global solutions to climate change.
Tackling Local and Global Climate Challenges
In addressing local and global challenges, Grosh emphasizes the necessity of understanding specific regional needs. For instance, several fellows are exploring innovative solutions within the hydrogen economy, which has gained traction in Asia. Additionally, the focus on circularity — the process of recycling materials to minimize waste — reflects Asia’s pivotal role in global manufacturing.
The new cohort’s endeavors also extend into critical mineral extraction, sustainable agriculture, and modernizing energy grids, all crucial for developing resilient climate solutions.
Evolving Program Curriculum and Economic Focus
The Breakthrough Energy Fellows program is not only expanding its global reach but also refining its curriculum to enhance the viability of startups. Drawing from insights and feedback from previous cohorts, the program now emphasizes early-stage economic analysis. Utilizing a framework known as techno-economic analysis, fellows collaborate with seasoned business mentors to evaluate whether their innovations can achieve product-market fit. This proactive approach encourages teams to pivot when necessary, improving their chances of securing funding.
Grosh highlights the success of past cohorts, noting that nearly all teams have managed to raise follow-on funding, with one standout, Holocene, already achieving an exit. “This track record serves as a significant indicator of our success,” she remarked.
Conclusion
As Breakthrough Energy embraces a more global and economically focused strategy, the newly announced cohort of Breakthrough Energy Fellows exemplifies the organization’s commitment to innovative climate solutions. With a diverse range of startups addressing pressing climate challenges, the program continues to play a vital role in shaping the future of climate technology.
By fostering a community of entrepreneurs who are equipped to tackle local and global challenges, Breakthrough Energy is enhancing its influence in the fight against climate change while adapting to an ever-evolving landscape.
