Image credit: Impact X Capital Partners
Tech giant Microsoft, VC firm Impact X Capital Partners and Spring Innovation have launched a programme for water tech projects from Black and female founders.
Those selected for the Impact X Venture Studio initiative will share seed funding of £250,000, cloud credits worth up to £120,000 and access to offices.
“The Impact X Venture Studio targets a select cohort of underrepresented startups that have the potential to drive efficiency, optimisation, and innovation not only in the water industry but beyond,” said Eric Collins, CEO of Impact X Capital Partners.
The Microsoft water tech partnership is seeking companies developing solutions to improve water quality, speed up expensive solutions and decrease emissions.
Impact X Capital Partners says applications are open to anyone with an idea to solve these challenges.
Spring Innovation, a private not-for-profit, was created to drive innovation in the UK and Ireland water sectors. It was formed as a result of the Water Innovation 2050 Strategy and is supported by every water and wastewater company in the UK and Ireland.
“This programme not only increases the likelihood of achieving a double bottom-line return but also dramatically reduces the time frame for achieving high growth,” added Collins.
Recent UK tech investments by Microsoft include enterprise tech startup Deployed, through its venture capital division M12, and coding platform Builder.ai.