Third Derivative has a history of distinguishing itself from other climate accelerators by offering an 18-month founder-friendly accelerator program that includes: 

1. Remote, flexible, and tailored programming
2. Unparalleled market expertise powered by climate experts at RMI
3. Connections to Third Derivative’s strategic corporate and investor network

To further support the unique needs of industrial innovators, this initiative is developing a dedicated set of resources for iron and steel, cement and concrete, and chemical startups. The final service offerings will be tailored to the needs of the selected cohort but will include:

• Industry-specific mentorship: Access to industry-specific mentorship opportunities from entrepreneurs, corporate executives, innovation leaders, and technical experts
• Funding support: Support accessing dilutive and non-dilutive funding from our curated list of funders in industrial decarbonization solutions
• High-value virtual and in-person events: Opportunities for exposure and learning opportunities with peers and the industrial ecosystem
• Virtual programming that supports commercialization success: We leverage our industry experts to advise on critical roadblocks slowing innovations in these key sectors
• Pro-bono and discounted startup services: When additional or expert support can unlock startup success (past resources have included resources such as access to industry consultants, grant writing support, and life-cycle assessments for innovations)

Heavy industry produces the most widely used materials you see in your daily lives, from concrete and steel for buildings to chemicals and plastics for consumer products. Industry is responsible for 30 percent of global carbon pollution — and half of that is caused by the production of cement, concrete, iron, steel, chemicals, and plastics.

Today, the world produces about 4 billion tons of cement (and about 30 billion tons of concrete), 2 billion tons of steel, and over 700 million tons of chemicals yearly. By 2050, forecasts estimate that demand will increase by 17% for cement, 27% for steel, and 46% for chemicals. Without innovation — and bringing that innovation quickly to commercialization — these industries could become the world’s biggest emitters within a decade. 

Although heavy industry is considered tough to decarbonize, we already have solutions to cut emissions cost-effectively, including fly ash to partially replace the use of clinker in concrete mixes, electric arc furnaces to produce steel from scrap using electricity, and feedstock diversification to produce chemicals with lower life-cycle emissions. According to IEA, despite this progress, there are over 70 technology solutions for the cement, steel, and chemical industries at the lab, prototype, or demonstration stage that are needed to meet our net-zero carbon goals. 

Industry-focused startups already make up about one-third of Third Derivative's portfolio. These portfolio companies work on topics that include green hydrogen, green chemicals and fuels, industrial heat, next-generation steelmaking, carbon-negative cement, and more. We've learned from our existing portfolio that industrial innovations benefit from our ecosystem approach to startup servicing and that we must both cultivate more innovation in these sectors, and help bring that innovation more quickly to market.