Tuesday 23 April 2024

Engie's venture studio

Engie launches venture studio to boost climate tech startups

DUBAI, February 21, 2024

Engie has launched Engie Factory, the venture building arm of Engie Group, a leader in low-carbon energy and services. 
Committed to helping customers decarbonise and accelerate the energy transition, Engie Factory supports the business activities with building and investing in early-stage startups. 
Leveraging on its diverse portfolio and proven model, Engie Factory is set to support the growing entrepreneurial ecosystem of the Middle East.
New wave of innovation
Engie Factory aims to be at the forefront of driving a new wave of innovation in the Middle East. Engie Factory collaborates with entrepreneurs to develop new business models and fundable startups. 
“We build innovative startups from scratch with founders and leverage the Group’s expertise, funding and market access to accelerate their solutions,” said Caroline Guyot, Managing Director, Engie Factory.
Launched in Singapore in 2019, Engie Factory has built over 14 startups which are solving pressing climate issues. Examples are startups decarbonising hard to abate industries, accelerating the distribution of renewables with business model innovation and developing intelligent software to facilitate the energy transition. 
Unique model
“In close collaboration with investors, governments and other corporates, we have built a unique model for corporate venture building. We couldn’t do this without the support of our valued partners, which are a critical driver for success in the Middle East,” says Guyot.  
“As the need for climate action becomes ever more urgent in the face of global warming, it is vital that we leverage the latest innovations available to us as a community to solve the challenges that stand in the way of reaching Net Zero. By supporting the latest innovations emerging in the tech start-up community, it is our hope that we can develop meaningful solutions that helps industry decarbonise,” said Tomaz Guadagnin, Country Manager GCC & Pakistan, Engie.--TradeArabia News Service


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