Climate-techs want to save the planet. First they need to save themselves

illuminem summarizes for you the essential news of the day. Read the full piece on Wall Street Journal or enjoy below:

🗞️ Driving the news: At Climate Week NYC, climate-tech startups highlighted their efforts to tackle climate change, but many struggled to secure the necessary funding, leaving investors uncertain about the bankability of these ventures

🔭 The context: Despite the presence of founders, investors, and policymakers, the event underscored a significant gap between the ambitious goals of climate-tech startups and the shrinking availability of venture capital to support their growth

🌍 Why it matters for the planet: Climate-tech startups play a critical role in developing solutions to mitigate climate change, but without sufficient financial backing, their ability to scale and make an impact is severely limited

⏭️ What's next: As funding dries up, startups will need to refine their business models and demonstrate clearer paths to profitability to attract investment and continue their efforts to combat climate change

💬 One quote: "Climate-tech startups might one day help the world stop climate change, but funding for these new ventures is falling very, very short." — WSJ report

Click for more news covering the latest on green tech