Xylem partners with H2O to fund innovative water start-ups
Global water technology company Xylem Inc., a market leader in the provision of intelligent solutions to the world’s water problems, has partnered with Imagine H2O, a non-profit organisation that works with entrepreneurs, enabling them to “build and scale solutions to solve the world’s water challenges.” Together, the two organisations will bring a new level of expertise and resources to the backing of some of the planet’s most promising new water businesses.
Xylem’s share price has dipped by 2% over the past five days
Source: Yahoo Finance
Xylem will become a “sustaining core sponsor” in support of Imagine H2O’s flagship accelerator. Over the last 9 years, more than 100 start-ups have taken part in the program, receiving cash awards, industry insights, capacity building resources, and access to customers. This year’s alumni from the incubator program managed to raise over $140 million in venture financing, and more than 270 start-ups applied for the 12 places on 2019’s program. A final list of who made the cut will be announced in January.
Jay Iyengar, Xylem’s senior vice president and chief innovation and technology officer, had this to say about the partnership: “With water challenges rapidly escalating around the globe, it’s critically important to drive innovation and advance data-fueled solutions that can exponentially increase water and energy efficiencies to expand water accessibility and protect our environment. Xylem is committed to leading the digital transformation of water, and we are thrilled to partner with Imagine H2O, which is playing a pivotal role in promoting innovation across the water industry. We look forward to working with Imagine H2O, and leveraging the strength of our experts and technologies, to champion the next generation of innovative water start-ups and the courageous entrepreneurs who lead them – and to working together to help convene and amplify the global conversation about solving water.”
Scott Bryan, president of Imagine H2O, added: “This partnership opens our global innovation ecosystem to Xylem’s wealth of water engineers and experts with the common goal of solving water. And we are looking forward to a long future of collaboration.”
Dominion holds Xylem Inc. in its Global Trends Managed Fund.
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