Founded in 2019, Impact Kommons welcomes a new cohort of startups with socially and sustainability solutions that fulfill UNSDGs every year. It provides a business integration programme, during which startups can showcase their innovative solutions to different New World Group business units and seek for collaboration opportunities. DBS Hong Kong, serving as the Impact Partner, has been instrumental in supporting Impact Kommons' vision of advancing the startup’s development.
In its fourth edition this year, Impact Kommons welcomed seven startups from Hong Kong, Singapore, and the US in the programme’s final pitching competition. Outshining fierce competition, i2Cool was crowned as the winner with its iPaint innovation and received DBS Business for Impact Prize and a HKD100,000 grant from DBS Hong Kong for future expansion.i2Cool’s innovation inspired by “ants”, HKD100,000 grant from DBS Hong Kong to accelerate its growth
At the competition, i2Cool presented the results of its first commercial product iPaint – a patented radiative technology that achieves sub-ambient cooling effects. It was inspired by the Saharan silver ant (Cataglyphis bombycina) which can live under extreme temperatures in the Sahara Desert. The team studied the hair structure of the “silver ant” and created its innovate iPaint which can reflect solar radiation and emit mid-infrared radiation to achieve cooling effects. The research and results highlighted i2Cool’s commitment to driving green solutions in the real estate sector.New World Development applied iPaint onto the container offices at some of its project sites. Over a two weeks analysis while the outdoor temperature spanned over a range of 25°C to 31°C, iPaint has effectively achieved indoor cooling effects below ambient temperatures by at most 7.8°C, thereby lowering the demand for air conditioning use and related carbon emissions, aligning with New World Development’s commitments to decarbonisation.
Ben Wong, General Manager – Technology Innovation, New World Development, said: "As Impact Kommons continues to seek innovations in green technology and sustainability to solve real business problems, we are again excited to partner with our valued partner DBS Hong Kong, with whom we are jointly empowering impact startups and technology companies through our accelerator programme. It offers invaluable opportunities for startups to scale and collaborate with the sprawling New World ecosystem, in order to build a greener future."
Amy Wu, Executive Director and Head of Group Strategic Marketing & Communications, DBS (Hong Kong) Limited, said: "DBS Hong Kong is proud to deepen our partnership with New World Development to help make a difference in building a sustainable future. As the Impact Kommons accelerator programme enters into the fourth cohort, we have jointly witnessed the transformation journey of the startups we have supported over the years. We will continue to play a leadership role in accelerating sustainable innovation development and creating impact beyond banking through supporting and empowering high-potential businesses for impact to keep innovating and scaling up their businesses."
In addition to i2Cool, all six other startups in the fourth cohort of Impact Kommons accelerator programme were presented with a certificate by DBS Hong Kong for their outstanding achievements during the programme. Startups in the fourth cohort specialise in PropTech, waste management, healthcare, sustainable fashion and culinary projects. Among them were Earthero, a Hong Kong-based sustainable fashion brand founded by a group of conscious curators and strategists, which hosted an immersive exhibition at K11 MUSEA to raise public awareness for sustainable fashion among the general public; and the Loops, a closed-loop door-to-door recycling network that reallocates more than 40 recyclables and resources.
[End]
About New World Development
Founded in 1970, New World Development Company Limited (“The Group”, Hong Kong stock code: 0017) was publicly listed in Hong Kong in 1972 and is a constituent stock of the Hong Kong Hang Seng Index. A premium brand infused with a unique personality best defined by The Artisanal Movement, New World Group’s core business areas include property development, property investment, road, construction and insurance. Its operations in Greater China, especially the Greater Bay Area, had a total asset value of approximately HK$621.9 billion as at 31 December 2022. The Group has an effective interest of approximately 61% in NWS Holdings Limited (Hong Kong stock code: 0659) and approximately 75% in New World Department Store China Limited (Hong Kong stock code: 0825) and wholly owns New World China Land Limited.
About Impact Kommons
Impact Kommons is Asia’s first UNSDG focused accelerator program launched by New World Group and powered by Eureka Nova. Backed by New World Group and its commercial network, it provides social impact startups with an open innovation platform, to develop and create disruptive sustainable solutions, accelerate business growth and achieve business success.
Participating startups and companies will be solving problem statements suggested by New World Group business units, in line with United Nations Sustainable Development Goals and New World’s Sustainability Vision 2030.
