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“I’m a technophile and an optimist, who’s deeply involved about restoring the mess we’re abandoning,” actor and producer Robert Downey Jr. advised Euro News.
Final week, the Ironman actor introduced two new enterprise funds that intention to put money into sustainable expertise. Their purpose will probably be to handle the climate crisis and different main environmental challenges similar to deforestation, meals shortage and microplastics.
“I like our planet, however it’s received issues — everyone knows it,” Downey Jr. mentioned in an official Instagram publish asserting the information. “We’d like new options… I am seeing loopy, superb new tech merchandise that may restore the atmosphere, and we’re on the precipice of the sustainable expertise renaissance with A.I., robotics, computational biology, creating superb new supplies, meals, merchandise, sources of vitality.”
The FootPrint Coalition Ventures, because the rolling funds are known as, will make investments cash in sustainably centered corporations, create instructional content material across the atmosphere and make charitable donations to non-profits, Euro Information reported.
The funds will act as the brand new funding arm of Downey Jr.’s bigger FootPrint Coalition, which was established in 2019 and already features a nonprofit that helps early scientific analysis and a storytelling department that produces content material about sustainable applied sciences, reported Fast Company.
“I fashioned the FootPrint Coalition to carry scale to trailblazing sustainable expertise corporations,” Downey Jr. defined within the Instagram video. With its three sectors, the FootPrint Coalition will unite traders, donors and storytellers dedicated to funding expertise that can restore the planet, Euro Information reported.
Downey Jr. advised Energy Live, “Having spent the final 18 months in dialogue with scientists, engineers and technologists, I now have a agency grasp of the plain: this world existential menace isn’t one thing that is going to be solved by a smattering of elite mega-corporations. I believe that paradigm have to be smashed in favor of innovation by a broad set of latest corporations.”
Downey Jr. advised Quick Firm that he hopes the brand new enterprise funds will catalyze personal corporations to grasp the main position they will and will play in tackling sustainability crises. He additionally hopes the investments will improve curiosity in and implementation of enviro-tech options. As a result of the funds are open to the general public, he believes they may democratize investments in environmental options, Euro Information reported.
“Listening to from so a lot of you, I can see how a lot you care. That is why I am making a method to put money into all the businesses that I’m placing my cash into,” Downey Jr. mentioned within the Instagram video. “And, if you wish to study extra, get entangled, will ya?”
Downey Jr. “is personally investing within the VC funds, contributing at the least 10 % of every of the agency’s preliminary two funds (as much as a complete of $1.5 million yearly),” reported Variety. Each funds are positioned to boost greater than $80 million a yr.
The actor and activist desires to leverage his viewers, storytelling skills and artistic workforce to assist portfolio corporations prolong their attain and develop their influence. His purpose is to translate scientific ideas into accessible data so world audiences can perceive the groundbreaking improvements, reported Euro Information and Selection.
“This simply feels so important,” Downey Jr. advised Quick Firm, saying the enterprise funds will probably be a “dedication to wanting to essentially get knee-deep within the problem-solving.”
The funds will deal with six key funding areas: sustainable client services; meals and agriculture expertise; supplies and industrial expertise; vitality and transportation; training and media and superior environmental options, reported Power Dwell. One of many enterprise funds will put money into early-stage applied sciences whereas the opposite will deal with late-stage investments.
In accordance with Power Dwell, FootPrint Coalition Ventures have invested in 5 corporations to this point, together with Arcadia Earth, a media platform serving to the planet via environmental storytelling; RWDC Industries, a biotech firm making a plastic different that may break down into water and CO2; Ÿnsect, an insect protein and fertilizer firm; Aspiration, a socially aware on-line financial institution providing sustainable money administration companies; and Cloud Paper, a bamboo-based paper firm aiming to avoid wasting a billion timber.
“FootPrint Coalition is opening the door to permit actual individuals to put money into the businesses which might be constructing companies across the mission of saving the Earth for generations to return,” Aspiration CEO Andrei Cherny mentioned, in keeping with Selection. “We’re honored to have them and Robert Downey Jr. as traders and companions on this worthwhile battle.”
Downey Jr. concluded, “Funding in sustainable expertise is a crucial pathway towards the invention and scaling of higher options for our planet. We have to mobilize extra individuals and catalyze extra capital,” reported Power Dwell.
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