For SMEs: Accelerating sustainability transformation
Sustainability startup ImpactNexus has secured funding of EUR 1 million from the Pro FIT program of the Investitionsbank Berlin (IBB).
Berlin, October 16, 2023: ImpactNexus.io offers software-based solutions for efficient sustainability management to companies, banks, and financial investors. The funding will support the advancement of an AI-powered software that helps companies assess the status quo of their sustainability activities and efficiently optimize their sustainability strategy and implementation. The goal is to accelerate the sustainability transformation of small and medium-sized enterprises (SMEs).
SMEs are facing increasingly demanding expectations regarding sustainability from regulatory authorities, investors, customers, and employees. Most decision-makers lack qualified resources and experts to address a sustainability strategy or efficiently accelerate its implementation. Here, ImpactNexus offers an efficient digital solution to expedite sustainability activities.
ImpactNexus utilizes artificial intelligence (AI) and natural language processing (NLP) to extract insights from millions of research articles, reports, and news. With the help of this data, ImpactNexus can prioritize sustainability topics specific to each company and provide strategic recommendations for an efficient sustainability transformation. This process captures both positive and negative impacts of corporate activities on the environment and society and categorizes essential risks and opportunities affecting business success.
All of this is integrated into an end-to-end Sustainability Management Software for decision-makers. The software will guide companies in the coming years in meeting the mandatory reporting requirements of the Corporate Sustainability Reporting Directive (CSRD), the new EU directive on corporate sustainability reporting, based on the new European Sustainability Reporting Standards (ESRS).
"With our digital solutions, SMEs can assess the impact of their activities on the environment and society, efficiently report to their diverse stakeholders, and simultaneously optimize their sustainability performance," says Alexander Schabel, CEO of ImpactNexus.
About the Funding:
The ImpactNexus team is receiving funding from the Investitionsbank Berlin (IBB) as part of the Pro FIT program - which provides grants and loans for technological innovation projects. This program, in turn, is funded by the European Regional Development Fund 2021-2027 (ERDF) launched by the EU. The aim is to accelerate the sustainability transformation of SMEs.