As more than $1 trillion flows into climate tech, incentive-tracking apps find firm footing Websites, apps and startups are rushing to track government incentives for climate techSpend some time with people in the climate tech world and you’ll soon learn that a lot of them share something in common: They’re not used to having a lot of money.
That’s because for years, climate represented a cost for many businesses, not an opportunity.
Investment in climate tech has been gathering pace over the past five years or so.
The IRA alone might yield more than that since many of the tax credits are uncapped; Goldman Sachs estimates the law’s climate provisions might pay out $1.2 trillion in incentives, spurring some $3 trillion in private investment.
Making sense of it all“Unfortunately, there’s no comprehensive database out there for all of these rebates and incentives,” said Thomas Stephens, co-founder of Upfront, a startup that’s cataloging incentives for merchants.
Just how backed up are the venture capital markets today?
That’s what a recent data analysis indicates is happening today in one critical venture capital market.
The value of the most mature startups in the United States that need to find an exit neared the $1 trillion mark through Q3 2023, according to a recent PitchBook analysis.
The figure underscores how weak the exit climate has been over the last two years and highlights the sheer mass of illiquid equity investments made into startups that call the United States home.
Still, the United States’ venture capital market is worth about half of the global whole, so when we discuss Yankee territory, we’re nevertheless talking about a huge portion of the startup market.
It’s becoming increasingly clear that businesses of all sizes and across all sectors can benefit from generative AI.
McKinsey estimates generative AI will add $2.6 trillion to $4.4 trillion annually across numerous industries.
That’s just one reason why over 80% of enterprises will be working with generative AI models, APIs, or applications by 2026.
However, simply adopting generative AI doesn’t guarantee success.
However, only 17% of businesses are addressing generative AI risks, which leaves them vulnerable.
