The 12 businesses taking part in the first batch of the UOB innovation arm FinLab’s Greentech Accelerator have been announced.
The firms, which originate from Singapore, Malaysia, Thailand, Indonesia, and India, are all in the pre-seed and seed phases.
Greentech Accelerator, which was established in May of this year, intends to invest S$150,000 (about US $105,000) in firms that develop environmental solutions including energy-efficient goods, zero-waste supply chains, and carbon tracking and reporting software.
All of the participating companies have completed a three-month program that includes introductions to UOB staff members and the bank’s partners as well as mentorships from business professionals.
Some of the businesses in this batch have already formed major partnerships, according to a statement from FinLab.
For instance, the platform for managing carbon emissions Pantas has worked with the environmental, social, and governance business Stacs, while the companies for energy efficiency Resync and T-Recs.ai have looked into potential pilot projects with UOB.
