Correntics' software helps to reduce financial risks from climate extremes and emerging risks in global value chains.
Could you explain what your startup does in a few sentences?
Correntics develops an innovative risk management software solution that helps companies to foresee costly supply chain disruptions. We currently focus on climate risks and emerging sustainability issues, but our software and models can also capture other factors such as geopolitical risks. With our software, companies can become more resilient and better prepared for a continuously evolving risk landscape.
Did your previous corporate position guide you to identify a gap in the market for your startup? If yes, how so?
During my previous job in the reinsurance industry, I observed the growing interest by companies to identify climate-related risks in their value chains, not just for today’s climate but also from a long-term, strategic perspective. Increasing regulatory requirements around sustainability risks triggered a significant momentum in the industry, which opened opportunities for a data-driven startup like Correntics.
What is the next step for Correntics?
We’re currently working closely with clients to further improve our software solution and we’re planning a financing round to grow our team, which will help us to accelerate the development.
What is something you wish you knew when you started putting together your business? As first-time founders, the startup journey was certainly a steep learning curve for me and my co-founder Gaudenz but we received great support during the Bluelion Accelerator program. Having in-depth insights and a network into all potential customer segments that were of interest would have certainly accelerated our product-market fit. Nevertheless, following a lean-startup methodology helped us to iteratively test and validate most of our hypotheses.