Bridging the Climate Innovation Gap through the Climate Tech Fellowship
Did you know that nearly half the climate solutions needed to reach net-zero by 2050 are still under development or need to be built? At The Exchange, we believe that innovations emerging from university labs and classrooms represent a critical pipeline of climate solutions, and we are determined to put these innovations on a path to market.
Deep technologies—many originating from university-led research and development—will be critical in decarbonizing the global economy. These innovations range from replacing fossil fuel-based materials with bio-based alternatives to harnessing ocean energy and electrifying transportation and infrastructure. While their potential is immense, many remain stuck in the lab, lacking the support and pathways needed for real-world deployment.
Bridging the valley of death and the equity divide
University support systems and resources are fantastic at producing lab breakthroughs, encouraging new inventions, and building initial business plans. However, these offerings taper off after a certain phase of development leaving innovators in a lurch. When climate tech is too nascent for venture funding, budding entrepreneurs often find themselves at a crossroads, unable to advance their concept. Yes, there are several lab-to-market and entrepreneurial programs out there, but many innovators are left behind, and their climate solutions never see the light of day. Early-stage technologies can be too risky or too early for traditional incubators, accelerators, or VC funding. The result? An early ‘valley of death’ that leaves too many ideas – and their impact – in labs.
Additionally, the percentage of venture capital funding going towards women founders and other underrepresented backgrounds remains extremely low. According to McKinsey, in 2022 women-founded teams received 1.9 percent of VC funds compared to the average startup with a White male founder. Helping talented individuals from all backgrounds see themselves as part of the climate tech ecosystem is critical to changing this picture. Additional mechanisms to support these breakthroughs, and the teams behind them, will have a material impact on our sustainable future. That’s why we’ve launched the Climate Tech Fellowship, designed to help university-based innovators kickstart their early-stage commercialization journey. The Fellowship provides a curated curriculum, 1:1 mentorship, non-dilutive funding, and direct access to our robust ecosystem of investors, policymakers, and community stakeholders.
This program puts our activation model into practice: embedding values of equity from the ground-up as ventures are developed, and ensuring founders are not innovating in a vacuum but taking a relentlessly customer-focused mindset so they can solve real, persistent challenges.
“For many first-time entrepreneurs, this is a rare and potentially game-changing opportunity,” shared Megha Mehdiratta, Senior Innovation Associate at The Exchange. “Having built a sustainable food e-commerce business from the ground up, I know firsthand how overwhelming it can be at the start—figuring out where to focus, who to talk to, and how to move forward is disorienting and can take a real toll. Coming out of a university setting, it’s easy to stay locked in on your solution rather than stepping back to deeply understand the problem you’re solving or the world you’re trying to change. This fellowship offers something most innovators rarely find – early access to mentors and a clearer path to commercialization. I am excited to see what these future climate leaders create, when given the platform to thrive.”
With our global network and deep roots in NYC, The Exchange is uniquely positioned to host this initiative bridging the gap in the current ecosystem. We offer a one-of-a-kind platform for early-stage climate tech ventures to receive guidance from key stakeholders. In the future, fellows will benefit from access to the new state-of-the-art Climate Hub we’re building on Governors Island – an immersive space for research, tech pilots and public engagement. Even before the Hub opens, our network of academic, community, and private sector partners across the city provides early testing grounds for new technologies and a chance for fellows to gain momentum in advancing their climate solutions.
Through the Climate Tech Fellowship for early-stage innovators, The Exchange can help power the next generation of solutions for climate impact. The inaugural version of the Climate Tech Fellowship at The Exchange is exclusively open to early-stage innovators from The Exchange’s network of university partners, including Stony Brook University, CUNY, NYU, Pace University, RIT, Pratt Institute, University of Washington, Duke University, Georgia Tech, University of Oxford, and SUNY Maritime College.
Through the program, we are excited to unlock bold climate solutions and accelerate diverse founders to shape a more sustainable and equitable future.