EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of the EU and a driving force in sustainable mobility solutions, is set to headline Slush 2023 with a focus on impact-driven investments and the significant role of women-led start-ups. The organisation’s involvement in the renowned event, will allow to share insights and perspectives on the future of the mobility sector.
EIT Urban Mobility will lead a session at Slush 2023 titled:
“Where to invest next in the mobility sector.”
Scheduled for the 1st of December at 11:30 am GMT+2, room 101D
The session will feature Fredrik Hanell, Director of Impact Venture for EIT Urban Mobility, Dr. Terhi Vapola, Managing Partner & Founder Greencode Ventures, member of European Women in VC and Johan Høgåsen- Hallesby Co-founder Beta Mobility discussing key aspects such as the unique challenges and opportunities in mobility investments, potential pitfalls, and the trajectory of the sector in the coming years. The session will be moderated by Cate Lawrence, senior writer at Tech.EU.
To enlarge the chances of impactful start-ups, EIT Urban Mobility has invited a dozen of its portfolio start-ups to Slush 2023. The start-ups invited Cogo (Denmark); Geofluxus (The Netherlands); Elonroad (Sweden); Zeabuz (Norway); ITC (Israel); Vonzu (Spain); Met3r (Hungary); Bia (Spain); Meight (Portugal); Dreamwaves (Austria); Mioo (Sweden).
After 5 years in existence, EIT Urban Mobility launches its first impact report of their investment portfolio.
EIT Urban Mobility’s investment strategy focuses on creating positive outcomes for both people and the planet while ensuring competitive market returns. The organisation evaluates portfolio companies based on impact metrics and financial indicators, emphasizing a commitment to businesses that contribute to a net positive impact on the world. In a mere span of four years, our start-up portfolio has surpassed industry standards in terms of potential for societal and environmental improvement. An impressive 44% of start-ups under our umbrella are steered by leaders who are women, in contrast to the industry average of 18%.
In order to measure a company’s net impact, and deliver a transparent view across specific categories, we employ the Upright Net Impact Model, a quantification model that is based on a neural network summarising more than 250 million scientific articles, public statistical databases and a proprietary taxonomy of over 150,000 product and service categories. According to this model, EIT Urban Mobility’s portfolio scores a 48% positive net impact score, significantly higher than the 40% of the control group of the Upright Benchmark. The start-up companies in the portfolio score especially high on the environmental dimension, +217% compared to benchmark.
“While traditional ESG (environmental, social, and governance) approaches are valuable for ensuring that companies adhere to responsible practices, EIT Urban Mobility recognises their limitations when it comes to cultivating the companies our future requires. Therefore, we invest in net positive impact-oriented companies to accomplish their objectives of creating liveable urban areas.” commented Fredrik Hanell, Director Impact Ventures EIT Urban Mobility, “We maintain a strict focus on evaluating our portfolio companies based on their impact metrics as well as financial indicators. Our ultimate goal is to boost businesses that do tangible good in the world, creating a net positive impact on our planet.”
The portfolio companies play a crucial role in addressing the complex urban mobility challenges that cities around the world face through the development of sustainable solutions. The report aims to provide a comprehensive exploration of the sustainability efforts and outcomes of these dynamic companies, shedding light on their contributions to create a more sustainable and liveable urban future.
