Correntics Secures EUR 1.5 Million Eurostars Grant to Revolutionize Climate-Risk Management in the Agri-Food Sector
May 17, 2024, 7:36 am
Location: Denmark, Region of Southern Denmark, Odense
Employees: 1001-5000
Founded date: 1906
In a groundbreaking move, Correntics, a renowned player in global climate risk management, has clinched a highly coveted EUR 1.5 million Eurostars grant. This substantial funding is earmarked for the development of cutting-edge AI-enabled tools that will revolutionize climate-risk management practices within the agri-food sector.
The primary objective of this innovative platform is to bolster resilience, foster sustainable growth, and fundamentally transform the way climate risks are identified and managed within the agri-food industry. By leveraging advanced risk analytics and state-of-the-art technology, Correntics aims to empower industry stakeholders to proactively anticipate and effectively navigate the myriad climate risks that impact their operations and supply chains.
To bring this ambitious vision to life, Correntics will be collaborating with key partners in the field, including the Danish weather technology company Cordulus, the Danish Technological Institute, and the EClim Group at the University of Zurich. Together, these entities will pool their expertise and resources to create a comprehensive platform that integrates high-resolution weather models, crop-specific risk analysis, and supply chain shock modeling.
Cordulus will play a pivotal role in providing hyper-local weather forecasting capabilities, while the Danish Technological Institute will contribute statistical models designed to assess the impact of weather extremes on crops. Additionally, the University of Zurich will spearhead the development of a sophisticated recommendation system based on large language models, aimed at offering actionable risk-mitigation strategies to users of the platform.
The significance of this EUR 1.5 million project cannot be overstated, as it comes at a time when the demand for advanced climate-risk management solutions is on the rise. With the agri-food sector poised to surpass €6 billion by 2030, driven by environmental supply chain risks, digitalization trends, and increasingly stringent sustainability regulations, the need for innovative tools like those being developed by Correntics has never been more pressing.
Correntics' track record of success and innovation is further underscored by their previous accolades, including being ranked among the TOP 100 Swiss Startups and emerging victorious in the final stage of Venture Kick in 2022. CEO Michael Gloor and CTO Gaudenz Halter, the dynamic duo at the helm of Correntics, credit programs like Venture Kick for kickstarting their entrepreneurial journey and providing them with the necessary support to propel Correntics to new heights.
In conclusion, Correntics' bold initiative to revolutionize climate-risk management in the agri-food sector stands as a testament to their unwavering commitment to driving positive change and sustainability within the industry. With a clear vision, a talented team, and a strong network of partners, Correntics is poised to lead the charge in reshaping the future of climate resilience for global supply chains.
The primary objective of this innovative platform is to bolster resilience, foster sustainable growth, and fundamentally transform the way climate risks are identified and managed within the agri-food industry. By leveraging advanced risk analytics and state-of-the-art technology, Correntics aims to empower industry stakeholders to proactively anticipate and effectively navigate the myriad climate risks that impact their operations and supply chains.
To bring this ambitious vision to life, Correntics will be collaborating with key partners in the field, including the Danish weather technology company Cordulus, the Danish Technological Institute, and the EClim Group at the University of Zurich. Together, these entities will pool their expertise and resources to create a comprehensive platform that integrates high-resolution weather models, crop-specific risk analysis, and supply chain shock modeling.
Cordulus will play a pivotal role in providing hyper-local weather forecasting capabilities, while the Danish Technological Institute will contribute statistical models designed to assess the impact of weather extremes on crops. Additionally, the University of Zurich will spearhead the development of a sophisticated recommendation system based on large language models, aimed at offering actionable risk-mitigation strategies to users of the platform.
The significance of this EUR 1.5 million project cannot be overstated, as it comes at a time when the demand for advanced climate-risk management solutions is on the rise. With the agri-food sector poised to surpass €6 billion by 2030, driven by environmental supply chain risks, digitalization trends, and increasingly stringent sustainability regulations, the need for innovative tools like those being developed by Correntics has never been more pressing.
Correntics' track record of success and innovation is further underscored by their previous accolades, including being ranked among the TOP 100 Swiss Startups and emerging victorious in the final stage of Venture Kick in 2022. CEO Michael Gloor and CTO Gaudenz Halter, the dynamic duo at the helm of Correntics, credit programs like Venture Kick for kickstarting their entrepreneurial journey and providing them with the necessary support to propel Correntics to new heights.
In conclusion, Correntics' bold initiative to revolutionize climate-risk management in the agri-food sector stands as a testament to their unwavering commitment to driving positive change and sustainability within the industry. With a clear vision, a talented team, and a strong network of partners, Correntics is poised to lead the charge in reshaping the future of climate resilience for global supply chains.