Innovation is the process by which new ideas are developed to respond to societal, environmental and economic needs. By generating new products, services, businesses, organizational models and behavioural changes, innovation speeds up and scales up national efforts to address climate change. It is key to implementing the Paris Agreement and achieving the Sustainable Development Goals. Historically, small enterprises have played an important role in technological innovation, often leading to the introduction of paradigm-shifting technologies and changes in the way we live. However, they face many challenges in maturing to a point where they survive and have positive social, environmental and economic impacts. They often have weak entrepreneurial support systems, fragmented linkages to climate technology markets and a lack of finance for entrepreneurial activities. These challenges are exacerbated in developing countries. Incubators and accelerators play an important role in addressing these challenges by providing crucial support to start-ups, small firms and entrepreneurs. They reduce risk, helping entrepreneurs to transform inventions into technologies that meet societal needs.