Correntics wins CHF 150,000 to provide climate-risk analytics for global supply chains
07.10.2022
The last few years have shown clearly that the globalized economy has become extremely sensitive to disruptions. Events such as natural disasters, global pandemics, or geopolitical issues are examples of how quickly tightly connected global supply chains can be interrupted. In the context of climate change, many natural hazards are expected to become more likely or more severe in the future, therefore posing an increasing threat to global supply chains. Correntics develops supply-chain risk analytics available as Software-as-a-Service (SaaS), which allows companies to become more resilient and less prone to interruptions in the face of climate change and other emerging risks.
 The founders of Correntics: Michael Gloor (CEO) and Gaudenz Halter (CTO)
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Because of the complexity involved in supply chain modeling and risk analytics, many companies struggle to mitigate the risks nested in their supply chains. While other companies offer services regarding risk management of natural hazards and climate change, Correntics is unique in its focus on the long-term climate resilience of complete supply chains. By considering the complex interaction mechanisms in global value chains, the Correntics platform will stand out in its modeling capabilities but also in its way to visualize complex risks, supporting companies to increase their resilience and reducing risks of severe economic interruptions.
The startup will use the CHF 150,000 Venture Kick award to further develop its modeling capabilities and launch the first enterprise version of its software early next year. Besides technical developments, Correntics is expanding its team in Zurich to increase sales across different sectors that are especially prone to weather- and climate risks, such as food & agriculture, energy, infrastructure, and logistics.
The global supply chain management market is currently estimated at USD 19.8 billion and is expected to grow significantly over the next years, almost doubling by 2027. Correntics addresses the supply-chain risk management software market, which is expected to reach approximately USD 4.6 billion by 2025.
Correntics was founded by Michael Gloor, CEO, and Gaudenz Halter, CTO. Together they have years of experience in modeling, software development, scientific data visualization, and the reinsurance industry. They are graduates of ETH Zurich and the University of Zurich, respectively.
“The competition was an invaluable experience for us at Correntics to sharpen our business mod-el and value proposition during the three stages of Venture Kick. Getting regular feedback from industry experts and investors in the jury, as well as getting challenged on our financing and go-to-market strategy during the Kickers camps helped us tremendously along our journey this year,” said Michael Gloor, CEO of Correntics.
The startup will use the CHF 150,000 Venture Kick award to further develop its modeling capabilities and launch the first enterprise version of its software early next year. Besides technical developments, Correntics is expanding its team in Zurich to increase sales across different sectors that are especially prone to weather- and climate risks, such as food & agriculture, energy, infrastructure, and logistics.
The global supply chain management market is currently estimated at USD 19.8 billion and is expected to grow significantly over the next years, almost doubling by 2027. Correntics addresses the supply-chain risk management software market, which is expected to reach approximately USD 4.6 billion by 2025.
Correntics was founded by Michael Gloor, CEO, and Gaudenz Halter, CTO. Together they have years of experience in modeling, software development, scientific data visualization, and the reinsurance industry. They are graduates of ETH Zurich and the University of Zurich, respectively.
“The competition was an invaluable experience for us at Correntics to sharpen our business mod-el and value proposition during the three stages of Venture Kick. Getting regular feedback from industry experts and investors in the jury, as well as getting challenged on our financing and go-to-market strategy during the Kickers camps helped us tremendously along our journey this year,” said Michael Gloor, CEO of Correntics.