How Bill Gates’s fellowship program is adapting to global uncertainty

In a year marked by significant global uncertainties, including trade disputes and shifting economic conditions, Breakthrough Energy, the climate tech initiative founded by Bill Gates, is adapting its strategies. While the organization has traditionally taken a long-term investment approach, it is now reassessing some of its commitments. For instance, the decision was made to discontinue its policy team in March and halt funding for a publication focused on the climate tech sector. Despite these changes, Breakthrough Energy remains dedicated to investing in startups and continues to support its fellowship program for emerging entrepreneurs. Today, the program is proudly announcing its latest cohort, consisting of 45 fellows from 22 startups, showcasing how it is evolving in response to both internal insights and global trends. According to Ashley Grosh, vice president at Breakthrough Energy, this cohort is the most globally diverse to date, with half of the teams operating outside the United States. The selection process was rigorous, with approximately 1,500 applications submitted, making the program more competitive than some of the world's leading universities. The new cohort includes 11 teams from the U.S., six from Asia, and others from Canada, Germany, the U.K., and South Africa. A key factor in this international focus was the establishment of a new fellowship hub in Singapore, opened in August 2024 in partnership with Temasek and Enterprise Singapore. This initiative acknowledges the global nature of climate change, which necessitates innovative solutions from various regions. Grosh emphasizes the importance of understanding local needs and challenges. For example, several fellows are exploring advancements in hydrogen technology, aligning with the growing interest in the hydrogen economy in Asia. Additionally, the cohort is prioritizing recycling and circularity, reflecting the region's role as a manufacturing hub and the associated waste issues. The new cohort will also engage in projects related to critical minerals, agricultural innovation, and modernizing energy grids. Alongside this expanded focus, the Breakthrough Energy Fellows program has refined its curriculum based on past experiences, encouraging participants to continuously evaluate the economic viability of their technologies. By employing a methodology known as techno-economic analysis, they collaborate with seasoned entrepreneurs to assess product-market fit, guiding teams to pivot when necessary. Grosh notes that nearly all teams from previous cohorts have successfully secured additional funding, with one startup, Holocene, already achieving an exit. "This is a significant indicator of success for us," she concludes.