Correntics wins EUR 1.5 million Eurostars grant to revolutionize climate-risk management in the agri-food sector
15.05.2024
Correntics has secured a highly competitive EUR 1.5 million Eurostars grant to develop an innovative AI-enabled climate-risk management platform. This innovative tool aims to enhance resilience, drive sustainable growth, and transform climate-risk management practices in the agri-food sector.
 CEO Michael Gloor and CTO Gaudenz Halter
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Correntics, a leader in global climate risk management, has secured a EUR 1.5 million Eurostar grant to develop advanced risk analytics for the agri-food sector. This initiative aims to help industry stakeholders anticipate and manage climate risks impacting their operations and supply chains.
The ICT startup will collaborate with the Danish weather technology company Cordulus, the Danish Technological Institute, and the EClim Group at the University of Zurich to create the platform. The platform will enhance Correntics’s existing climate-risk analytics software, integrating high-resolution weather models, crop-specific risk analysis, and supply chain shock modelling. Cordulus will provide hyper-local weather forecasting, while the Danish Technological Institute will offer statistical models to assess the impact of weather extremes on crops. The University of Zurich will develop a large language model-based recommendation system for actionable risk-mitigation strategies.
This EUR 1.5 million funded project aims to meet the growing demand in a market expected to exceed €6bn by 2030, driven by environmental supply chain risks, digitalization in the agri-food industry, and stricter sustainability regulations.
Correntics participated in Venture Leaders Cleantech in 2023 and was ranked in the TOP 100 Swiss Startups and won the final stage of Venture Kick in 2022.
Correntics Co-Founders: CEO Michael Gloor and CTO Gaudenz Halter
The ICT startup will collaborate with the Danish weather technology company Cordulus, the Danish Technological Institute, and the EClim Group at the University of Zurich to create the platform. The platform will enhance Correntics’s existing climate-risk analytics software, integrating high-resolution weather models, crop-specific risk analysis, and supply chain shock modelling. Cordulus will provide hyper-local weather forecasting, while the Danish Technological Institute will offer statistical models to assess the impact of weather extremes on crops. The University of Zurich will develop a large language model-based recommendation system for actionable risk-mitigation strategies.
This EUR 1.5 million funded project aims to meet the growing demand in a market expected to exceed €6bn by 2030, driven by environmental supply chain risks, digitalization in the agri-food industry, and stricter sustainability regulations.
Correntics participated in Venture Leaders Cleantech in 2023 and was ranked in the TOP 100 Swiss Startups and won the final stage of Venture Kick in 2022.
“The Venture Kick program really kickstarted our journey at Correntics, allowing us to benefit from decades of entrepreneurship experience and a fantastic startup ecosystem. This empowered us to grow Correntics rapidly, obtain funding, and be selected for the Venture Leaders Cleantech team, which was the ideal start to our international product launch," commented Michael Gloor, CEO and Co-Founder of Correntics.
Correntics Co-Founders: CEO Michael Gloor and CTO Gaudenz Halter