Switzerland’s premier startup competition, >>venture>>, has just concluded its highly anticipated 2024 Award Ceremony, crowning the most promising early-stage startups in the country. Among the winners was CLIMADA Technologies AG, which took first place in the Finance & Insurance vertical.

Since launching in 1997, the >>venture>> startup competition has been a cornerstone event in Switzerland’s innovation landscape, supporting and celebrating startups for over 25 years.

Past winners and participants have gone on to found over 1,500 companies and created more than 15,000 jobs in Switzerland, a testament to the competition’s enduring impact on the regional entrepreneurial ecosystem.

The 2024 edition of the competition offered over CHF 500,000 in cash prizes, along with access to a deep network of mentors and investors. The competition is renowned not only for recognising outstanding startups but also for providing them with the essential support needed to thrive.

Winners are also awarded non-dilutive cash prizes, which provide crucial funding without requiring founders to give up equity. The top three finishers in each vertical receive CHF 50,000, CHF 20,000, and CHF 10,000, respectively, to kickstart their entrepreneurial journeys.

CLIMADA Technologies: A Leader in Climate Risk Analytics

Founded by Sebastian Glink, Simone Thompson, and their climate science advisor, Prof. Dr. David N. Bresch, >>venture>> 2024 Finance & Insurance First Place Winner CLIMADA Technologies AG is a data-driven fintech with a focus on sustainability.

“CLIMADA Technologies specialises in comprehensive climate risk analytics, leveraging advanced data models and AI to provide precise and actionable insights,”

explained Sebastian.

Their platform offers forward-looking analysis for clients’ exposed locations, covering acute and chronic hazards.

CLIMADA Technologies’ event-based simulation platform is designed for the socio-economic impact assessment of weather and climate events. Using mathematical models, the platform compiles risk assessments, enabling companies, authorities, and other decision-makers to better prepare for rising weather and climate risks.

Simone elaborated,

“What sets us apart is our integration of cutting-edge technology with a deep understanding of climate science, enabling us to offer customised solutions that cater to diverse industries.

Our commitment to open-source principles and collaboration with scientific communities further distinguishes us from competitors.”

With 20 years of experience in international blue-chip organisations spanning finance, marketing, project management, branding, sales, and communications, Simone’s expertise complements Sebastian’s extensive background in building scalable technology solutions in insurance, reinsurance, and retail industries.

Unique Approach to Climate Risk

The company aims to contribute to a more resilient and sustainable global economy by empowering organisations with the tools they need to manage climate risks effectively.

“We aspire to be a leading provider of physical climate risk analytics in the Swiss and global financial ecosystems.

Our goal is to integrate our solutions into mainstream financial, insurance, and industry practices, driving the adoption of climate-resilient strategies and sustainable investment decisions,”

said Sebastian.

Their simulation models calculate risk assessments for various events like cyclones, heatwaves, droughts, floods, and forest fires, both historically and probabilistically. This predictive technology, including AI, enables them to forecast impacts of weather extremes that have not yet occurred, but are physically plausible.

A Journey Towards Impact

Participation in the >>venture>> competition was driven by CLIMADA Technologies’ commitment to expanding its impact.

“The competition provides a unique platform to showcase our innovative solutions in climate risk assessment and resilience building,”

said Sebastian.

The recognition from >>venture>> is expected to enhance the company’s credibility and visibility, attracting top-tier clients and partners.

“The recognition will open doors to new markets and opportunities for collaboration, further establishing our position as a leader in climate risk analytics,”

stated Simone.

Strategic Growth and Partnerships

Looking ahead, CLIMADA Technologies plans to scale its technology, expand market reach, and become a thought leader in climate adaptation over the next three to five years. The mentorship and networking opportunities offered by >>venture>> are particularly valuable.

“Access to experienced mentors in the finance and insurance sectors will provide us with strategic guidance and industry insights,”

noted Simone.

Winning startups receive exclusive access to mentorship and coaching from industry experts, which is invaluable in navigating the challenges of early-stage growth.

In the Finance & Insurance vertical, mentors included Magdalena Tarasinska, Board Member at the Swiss ICT Investor Club (SICTIC); Ulrich Hoffmann, Board Member at UBS Business Solutions; Philipp Steinberger, the owner of Steinberger Consulting; and Massimo Soriano, Client Advisor at Rothschild & Co.

Sebastian added,

“Insights from leaders like Ulrich Hoffmann and Frédéric Lauchenauer will be invaluable in refining our products and strategies to meet the evolving needs of the market.”

In addition, CLIMADA Technologies plans to use the CHF 50,000 cash prize to invest in research and development, hire top talent, strengthen marketing efforts, and establish strategic partnerships to enhance service delivery and expand into new geographic markets.

Commitment to Climate Resilience

The company is committed to addressing climate risks as both a business opportunity and a responsibility, aiming to deliver solutions that support businesses in mitigating risks and contributing to global climate change efforts.

Their innovative approach allows for precise impact assessments, positioning them at the forefront of climate risk management and earning them the top spot in the >>venture>> competition’s Finance & Insurance category for 2024.

This recognition is seen as an acknowledgement towards realising CLIMADA Technologies’ vision of a more resilient and sustainable future.