MUFG Bank / NYCT Urban Future 2024 Prize: Empowering Innovators in New York City

The Urban Future Lab is excited to announce the eighth edition of the Urban Future Prize Competition, supported by The New York Community Trust, MUFG Bank, and NYU Tandon School of Engineering. This competition aims to identify the most promising climate-tech startups and award two winners with $50,000 cash prizes each. Additionally, the selected awardees will gain admission to the ACRE Incubator, renowned as New York’s longest-standing and most successful program for climate-tech startups.

In a new development this year, we are introducing the Future Resilience Prize track, which specifically focuses on climate adaptation and resilience. While significant funding has been directed towards climate mitigation efforts, there remains a notable gap in funding for innovations addressing the adaptation side of the climate crisis. The Future Resilience Prize aims to highlight innovative solutions in climate adaptation and resilience, stimulate increased private investment in this area, and make a positive impact on vulnerable communities disproportionately affected by climate change.

Benefits:

Two non-dilutive cash prizes of $50,000 each will be awarded to companies demonstrating the determination and commitment needed to tackle the most significant challenge of our era.
Admission and membership into New York City’s premier climate-tech incubator, provide tailored benefits and unparalleled support for startups.
Recognition within the ecosystem, media exposure, and opportunities for introductions to key stakeholders in both the public and private sectors.

Requirements:

Applicants must be early-stage startups that have started generating revenue, have raised less than $5 million, and can clearly articulate the potential sustainability impact of their core product or service. While companies may be based internationally, we require winners to maintain at least one full-time employee dedicated to the startup and to have a workspace at our incubator in New York City. Founders are encouraged to be physically present to derive the most value from industry events, investor office hours, and other activities.

Selection Process:

Timeline: