Third Derivative
Third Derivative is a nonprofit climate tech accelerator founded in 2020 by RMI and New Energy Nexus that runs an 18-month accelerator program selecting startups globally and connecting them with 40+ corporate partners, investors, and 600+ RMI experts to accelerate commercialization across energy, industry, cooling, and carbon removal verticals.
- Company typePrivate
- Founded2020
- HeadquartersBoulder, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Third Derivative does
Third Derivative (D3) is a nonprofit climate tech accelerator founded in 2020 as a joint venture between Rocky Mountain Institute (RMI) and New Energy Nexus, headquartered in Boulder, Colorado with operational hubs in India, Singapore, and South Africa. The organization runs an 18-month accelerator program that competitively selects climate tech startups (acceptance rates below 5% in recent cohorts) and surrounds them with committed investors, corporate partners, market experts, and mentors drawn from a network that includes RMI's 600+ expert bench and 40+ multinational corporate partners (bp, Shell, BHP, Microsoft, Netflix, Disney, CBRE, FedEx, Berkshire Hathaway, AT&T). Since inception, D3 has supported 100+ startups from over 1,500 applicants, with portfolio companies collectively raising more than $500 million as of late 2022.
The product portfolio spans a general Innovation Cohort program plus several verticalized initiatives: Industrial Innovation Cohorts (cement, steel, chemicals organized around Make Less / Make Better / Make New), Future Industries Partnership (HSBC-funded, Asia/Middle East focus), First Gigaton Captured (carbon dioxide removal), Clean Mobile Power Initiative (entertainment industry, in partnership with Netflix and Disney), and Global Cooling Innovations including Passive Daytime Radiative Cooling pilots in the US and India. RMI provides proprietary diligence tools — Decarbonizing Industry Resource Tool (DIRT), Stakeholder Analysis and Mapping Tool (SAM), and an Industrial Decarbonization Investor database — that feed the cohort selection engine.
D3 does not charge startups for program participation. As a mission-driven 501(c)-equivalent organization, revenue is generated through philanthropic grants (HSBC, Bezos Earth Fund, Autodesk Foundation, Grantham Foundation, Lemelson Foundation) and corporate partnership contributions. The 2026 cohort (26 startups across 13 countries) is the largest to date, with 90% of companies focused on hardware, materials, or infrastructure solutions and an average Technology Readiness Level of 6.3. Distribution is decentralized and application-driven: startups access the program through direct website applications and partner referrals, while corporates and investors join as ecosystem sponsors.
Third Derivative firmographics
Firmographics- Name
- Third Derivative
- Legal name
- Third Derivative
- Website
- https://third-derivative.org
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Third Derivative is a nonprofit climate tech accelerator founded in 2020 by RMI and New Energy Nexus that runs an 18-month accelerator program selecting startups globally and connecting them with 40+ corporate partners, investors, and 600+ RMI experts to accelerate commercialization across energy, industry, cooling, and carbon removal verticals.
- Ownership category
- akta.pro rank
Where Third Derivative is headquartered
LocationHeadquarters
- HQ city
- Boulder
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Third Derivative business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Accelerator Program Services: Third Derivative operates as a climate tech accelerator providing ecosystem services to selected startups. The organization facilitates connections between startups and corporate partners, investors, and mentors. Revenue is generated through accelerator program operations and potentially equity holdings in portfolio companies.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Third Derivative product offering
Product offeringCore offering
Third Derivative operates an 18-month climate tech accelerator program that selects early- to growth-stage startups and connects them with committed venture capital investors, corporate partners (including bp, Shell, Microsoft, Netflix, Disney), market experts, and mentors. The organization runs multiple specialized cohorts focused on industrial decarbonization, carbon dioxide removal, clean mobile power, and cooling innovations, providing startups with tailored support to move from pilot to commercial deployment.
Product overview
Third Derivative (D3) operates as an open, collaborative climate tech accelerator ecosystem that rapidly finds, funds, and scales climate technology innovation globally. Founded in 2020 by Rocky Mountain Institute (RMI) and New Energy Nexus, D3 offers multiple interconnected programs including the core Innovation Cohorts (18-month accelerator), the Future Industries Partnership (focused on Asia/Middle East), Industrial Innovation Cohorts (cement, steel, chemicals), First Gigaton Captured (carbon dioxide removal), Clean Mobile Power Initiative (entertainment industry), and Global Cooling Innovations. The ecosystem connects portfolio startups with a network of committed investors, corporate partners (including bp, shell, Microsoft, Netflix, Disney), market experts, and mentors. D3 also provides specialized tools including the Decarbonizing Industry Resource Tool (DIRT) and Stakeholder Analysis and Mapping Tool (SAM) for industrial decarbonization.
Differentiator
Problem solved
Functional benefit
Products and services
- Innovation Cohorts (Accelerator Program) Third Derivative's flagship 18-month accelerator program that selects and supports climate tech startups through mentorship, investor access, and corporate partnerships to accelerate commercialization across emissions sectors.
Quantifiable outcome
- Startups have raised over $500 million since entering the program
- +3 more outcomes
Companies that use Third Derivative
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Third Derivative technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Third Derivative partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, supporting and founding.
- Jurong Town Corporation (JTC)coreCollaboration to pilot low-carbon technologies on Jurong Island in Singapore, positioning the hub as a testbed for industrial decarbonization. Strategic partnership to expand pipeline of climate-tech startups able to pilot solutions in industrial settings.
- Future Industries PartnershipcoreA three-year initiative supported by HSBC and delivered by Third Derivative and Founders Factory, focusing on accelerating technologies for heavy industry across Asia and the Middle East. 18 startups in the 2026 cohort are supported by this partnership.
- Mission Possible PartnershipsupportingPartnership on tools and resources for decarbonizing heavy industry sectors including aviation, shipping, cement, chemicals, and steel. Joint hosting of webinars on industry decarbonization tools.
- Deep Science VenturessupportingPartnership to launch Mark1, developing first-of-a-kind climate tech projects combining venture building with deep technology expertise.
- NetflixcoreLaunched Clean Mobile Power Initiative with Third Derivative and RMI to develop zero-emissions mobile power for the entertainment industry, targeting diesel generator emissions that account for roughly 700,000 tons of CO₂e annually.
- The Walt Disney CompanycorePartner in Clean Mobile Power Initiative to identify and deliver cost-competitive, zero-emissions mobile power at scale for entertainment industry productions.
- Rocky Mountain Institute (RMI)foundingThird Derivative is a joint venture founded by RMI in 2020. RMI provides market, regulatory, and policy insights, tools including DIRT and SAM, and access to its network of 600+ experts. The accelerator operates as RMI's climate tech accelerator.
- New Energy NexusfoundingCo-founder of Third Derivative along with RMI. New Energy Nexus brings experience in supporting clean energy entrepreneurs globally and focuses on inclusive ecosystem development.
- ArcelorMittalsupportingAcknowledged for generous support of Third Derivative and partnership in supporting startups decarbonizing heavy industry.
- Founders FactorycoreDelivery partner for Future Industries Partnership alongside Third Derivative, focused on accelerating heavy industry technologies in Asia and Middle East.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
Third Derivative competitors and assessment
Company assessmentBroad incumbents
- Techstars: Global accelerator network with sector-specific programs including sustainability and climate. Comparable accelerator model but much broader scope across industries, with a for-profit structure versus D3's nonprofit model.
- Y Combinator: Largest global startup accelerator with a growing climate and energy portfolio. Overlaps with D3 as an early-stage accelerator model for founders but operates at vastly greater scale and breadth across all sectors.
- Creative Destruction Lab: Large-scale, objectives-based program for seed-stage science and technology startups across multiple sectors including climate. Broader scope than Third Derivative but comparable in providing structured milestone-driven support to deep-tech founders.
- MaRS Discovery District: Canadian innovation hub supporting cleantech, health, and fintech startups with programming, capital, and corporate partnerships. Comparable as a large nonprofit innovation hub serving climate and clean ventures, though broader in scope.
Direct peers
- Newlab: Innovation hub supporting frontier technology startups including climate, mobility, and advanced manufacturing. Comparable as an ecosystem platform connecting founders, corporates, and investors around hard-tech innovation.
- Greentown Labs: Largest climatetech startup incubator in North America, providing prototyping space, mentorship, and corporate connections. Highly comparable in mission and operating model, though Greentown emphasizes physical prototyping space versus Third Derivative's ecosystem-first approach.
- Imagine H2O: Water-focused accelerator supporting startups developing solutions for the water sector. Comparable as a thematic, nonprofit-style accelerator connecting startups with corporate water users and investors.
- Activate (formerly Cyclotron Road): Fellowship program for scientists and engineers building hard-tech climate solutions, originally embedded at Lawrence Berkeley National Lab. Comparable as a selective program supporting deep-tech climate entrepreneurs with rigorous selection and expert mentorship.
- Elemental Excelerator: Climate tech accelerator that invests in and supports startups addressing energy, mobility, and built environment challenges. Directly comparable to Third Derivative as a mission-driven climate accelerator serving startups with corporate and investor partnerships.
- Los Angeles Cleantech Incubator (LACI): Nonprofit cleantech incubator supporting early-stage clean energy and transportation startups with programming, mentorship, and corporate introductions. Operates a similar nonprofit accelerator model with municipal and corporate backing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Third Derivative social profiles
Digital presenceThird Derivative financial estimates
Financial estimateRevenue estimate
Valuation estimate
Third Derivative leadership team
Management profileNumber of profiles
Profiles8 records
Third Derivative funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Third Derivative M&A and investment
M&A and investmentM&A
Investments229 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Third Derivative
What does Third Derivative do?
Third Derivative operates an 18-month climate tech accelerator program that selects early- to growth-stage startups and connects them with committed venture capital investors, corporate partners (including bp, Shell, Microsoft, Netflix, Disney), market experts, and mentors. The organization runs multiple specialized cohorts focused on industrial decarbonization, carbon dioxide removal, clean mobile power, and cooling innovations, providing startups with tailored support to move from pilot to commercial deployment.
Is Third Derivative a public or private company?
Third Derivative is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Third Derivative founded?
Third Derivative was founded in 2020. It employs 11 to 50 people.
Where is Third Derivative based?
Third Derivative is headquartered in Boulder, United States, in the North America region.
How does Third Derivative make money?
One revenue line is on record: accelerator Program Services.
Who are Third Derivative's main competitors?
Broad incumbents on record are Techstars, Y Combinator, Creative Destruction Lab and MaRS Discovery District. Direct peers are Newlab, Greentown Labs, Imagine H2O, Activate (formerly Cyclotron Road), Elemental Excelerator and Los Angeles Cleantech Incubator (LACI).
Does Third Derivative have an API?
No public API is recorded for Third Derivative.