Commerzbank, Tenity and neosfer launch "Joint Innovation Accelerator for Sustainable Finance"

-> Commerzbank joins forces with Tenity and neosfer to launch "Joint Innovation Accelerator for Sustainable Finance

-> Joint project contributes to the bank's commitment to sustainability

-> The aim is to find innovative solutions in various areas of sustainability

Frankfurt, Germany / Zurich, Switzerland - June 5, 2024 - Commerzbank, Tenity, the startup incubator, accelerator and early-stage venture capitalist and neosfer, innovation unit and early-stage investor of Commerzbank, are launching the "Joint Innovation Accelerator for Sustainable Finance".

The program aims to develop proof-of-concepts and collaborations between start-ups and Commerzbank business units. The aim is to promote innovative solutions in various sustainability areas such as biodiversity, real estate and supplier management.

The program gives Commerzbank direct access to innovative start-ups that have demonstrably achieved product-market fit and are ready to implement successful proof-of-concepts and partnerships. The Accelerator thus contributes directly to the bank's sustainability strategy.

"The sustainable transformation of the financial sector is dependent on continuous development and regular innovation. We are convinced that the Joint Innovation Accelerator will generate precisely these innovations and further advance our commitment to sustainability. That is why we are happy to support it and look forward to the results," says Bettina Storck, Head of Group Sustainability Management at Commerzbank.

The Accelerator will run from September to October 2024. The highlight of the program is the Demo Day, which will take place during the neosfer Impact Festival on 31 October 2024 in Frankfurt. The participating start-ups will present their solutions there.

Andreas Iten, CEO & Managing Partner at Tenity, says: "Together with Commerzbank and neosfer, we are driving sustainable financial innovations in this Joint Innovation Accelerator. We are excited about the revolutionary ideas and solutions that will emerge from this collaboration."

Kai Werner, Managing Director of neosfer alongside Matthias Lais, adds: "Sustainable solutions are also becoming increasingly important in the financial sector. They are a key lever when it comes to the sustainable transformation of our economy. This makes it all the more important to identify new business models in this area and test them under the best possible conditions. This is precisely where the Joint Innovation Accelerator comes in. We are delighted to support the participants with our experience as an innovation unit and our broad network."

Further information about the Accelerator is available here: Joint Innovation Accelerator for Sustainable Finance

About Commerzbank

Commerzbank is the leading bank for the German Mittelstand. In addition, the Bank is a strong partner for around 25,500 corporate client groups and almost 11 million private and small-business customers in Germany. The Bank’s two Business Segments – Private and Small-Business Customers and Corporate Clients – offer a comprehensive portfolio of financial services. Commerzbank transacts approximately 30% of Germany’s foreign trade and is present internationally in more than 40 countries in the corporate clients’ business. The Bank focusses on the German Mittelstand, large corporates, and institutional clients. As part of its international business, Commerzbank supports clients with a business relationship to Germany, Austria, or Switzerland and companies operating in selected future-oriented industries. In the Private and Small-Business Customers segment, the Bank is at the side of its customers with its brands Commerzbank and comdirect: online and mobile, in the advisory centre, and personally in its branches. Its Polish subsidiary mBank S.A. is an innovative digital bank that serves approximately 5.7 million private and corporate customers, predominantly in Poland, as well as in the Czech Republic and Slovakia.

About Neosfer

neosfer is the early-stage investor and innovation unit of Commerzbank Group. It investigates future technologies that are relevant to business and society, promotes and develops sustainable, digital solutions, and brings them profitably to the bank and its customers. All of this is done through the three areas of invest, build, connect. It creates access to innovation through strategic venture capital (invest), in-house development of technologies and business models (build), and building ecosystems around the sustainable and digital future of society (connect).

With a portfolio of more than 30 digital and sustainable startups, neosfer has always kept its eyes on the future and is continuously developing. Some successful prototypes have already emerged from this and are being used in the Commerzbank Group. These include Lissi, which develops EUDI wallet connectors as part of the eIDAS 2.0 regulation and was the first independent start-up to be founded by neosfer. Through its own events, such as the monthly tech startup event series "Between the Towers" and the Impact Festival, the company strengthens its network in the innovation, venture and sustainability sectors.  

neosfer GmbH, or neosfer for short, is a wholly owned subsidiary of Commerzbank AG based in Frankfurt am Main. 

About Tenity

Tenity is the leading global innovation ecosystem and early-stage investor, with offices in Zurich, Singapore, Tallinn, Madrid, London, and Istanbul. Tenity's vision is to shape the future of finance by bringing together ambitious founders with leading companies, investors, and mentors. Today, Tenity is active in six hubs, conducts innovation programs for companies in more than 15 countries, has collaborated with more than 65 corporate partners, and has supported more than 1,600 startups through its programs.

For more information: tenity.com

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