Wells Fargo Innovation Incubator (IN2) Awards CTO Grant and Upswing in VC Cleantech Investment

Posted by Emily Lundberg on

Category: National

Cleantech Investments back on the upswing!

In 2005, when Cleantech Open launched, venture capital investment in cleantech measured just hundreds of millions of dollars. In 2006, investment ballooned to $1.75 billion, according to the National Venture Capital Association. By 2008, it shot up to $4.1 billion. The 2008 financial collapse erased one quarter of the gains venture capital firms had made between 2003 and 2007, and the sudden scarcity of capital hit cleantech startups hard. Venture investments in cleantech fell from $4.1 billion in 2008 to $2.5 billion in 2009.

However, finally, cleantech venture capital investments are back on the upswing. According to Bloomberg New Energy Finance, venture and private equity investments in the sector grew 127 percent over the previous year in 2018, amounting to $9.2 billion. Is it possible we are finally witnessing the mainstreaming of cleantech?

That said, still cleantech startups are routinely challenged by long development cycles, significant capital requirements, business model tests, no sales premium, and few exit opportunities. But cleantech accelerators like Cleantech Open have matured into the needed infrastructure necessary to bridge the cleantech valley of death. 

In light of this, we would like to formally thank @IN2ecosystem, the Wells Fargo Innovation Incubator, for its award to Cleantech Open to "Address Gaps in Cleantech Development and Commercialization," as one of just thirteen recipients sharing a $1M grant toward that end. With the upsurge of investment in cleantech, it is imperative that we support the infrastructure that enables development of early-stage companies--particularly those in the difficult hardware space. 

So, support early-stage cleantech startups by pointing an ecopreneur toward Cleantech Open! Tell them to apply to become a #CTOAlumniSuccess by participating in this year's 2019 accelerator! Early-bird deadline to sign up is March 31st! 


REFER AN ECOPRENEUR

  • By Emily Lundberg on in National

Updated on March 10, 2019 8:20 PM