Venture For ClimateTech Announces $8.6 Million Raised by First Cohort and Recruitment for Second Cohort
Nine companies successfully graduate from the six-month accelerator program focused on securing funding, building teams, and validating market opportunity
ROCHESTER, N.Y., Dec. 14, 2021 (GLOBE NEWSWIRE) — Venture For ClimateTech announced today its first cohort of climate tech innovators has graduated from the program and secured more than $8.6 million of funding outside of the program. It also announced it is now recruiting for its second cohort of companies to participate in this non-profit global venture studio and accelerator program with applications (https://bit.ly/3yu7qBt) open from December 14, 2021 until March 4, 2022.
Since the launch of programming six months ago, when nine companies were selected from 661 unique applicants spanning 64 countries, program participants have raised $4 million in grant funding, $4.6 in startup capital, and have on average tripled their company team sizes.
Highlights of the first cohort included Polaris Renewables successfully licensing technology with the National Renewable Energy Labs (NREL), Alchemr securing a paid pilot demonstration with Repsol, and founders winning fellowships with Breakthrough Energy and the Prime Impact Fund.
“Over the past six months, our first cohort of teams has generated interest from investors, government agencies, and stakeholders as they have validated market demand for their solutions,” said Venture For ClimateTech Managing Director Jacqueline Ros Amable. “In the first year of this program, we have seen first-hand how efficiently our cohort-based coaching program can expedite the commercialization of early-stage climate technologies and we look forward to building on these successes in Cohort 2.”
Venture for ClimateTech launched approximately one year ago to source the most promising climate tech innovators from around the world and provide them with the hands-on support needed to approach first customers, launch pilots, and secure investment. It is supported by The New York State Energy Research and Development Authority (NYSERDA) and run by NextCorps and SecondMuse.
“We are proud to see the Venture for ClimateTech program’s first cohort have so many notable successes during the first year of this program and we are excited to welcome the second cohort,” said Katie MacDonald, Director, Technology to Market at NYSERDA. “This shows that global climate tech founders are ready to take on the challenges of climate change and lowering carbon emissions, and we look forward to helping them grow their businesses in New York.”
“This is the best accelerator program I have been able to find anywhere for mission-driven startups because of its high-level mentoring, non-dilutive funding, great network, and focus on Environmental, Social, and Governance (ESG) impacts,” said Bill Bruner, CEO and Co-Founder of New Frontier Aerospace and Cohort 1 participant. “It’s especially important because of its world-changing mission, so I encourage the program to stay the course—the world needs Venture for ClimateTech.”
Innovators and founders who have an idea or technology that has the potential to substantially reduce greenhouse gases are encouraged to apply for Venture for ClimateTech’s second cohort. Applicants can be located anywhere in the world but must have plans for how their solution can help New York reach its climate goals. Particular technologies of interest include hardware, software, or business model solutions for buildings, transportation, energy storage, grid, fintech, food, and agriculture technology.
Companies with solutions that positively help communities impacted by climate change are strongly encouraged to apply. Each company in Venture For ClimateTech’s cohort will receive up to $100,000 in grant funding throughout the six-month virtual accelerator, in addition to one-on-one mentorship and supportive programming.
Interested parties are encouraged to attend informational webinars to find out more about the program to assess if it is right for them. Get more information and register for the sessions here.
Information sessions will be hosted virtually on the following dates. Please register here:
January 5, 2022, 10:00 AM – 11:00 AM EST – Alumni Spotlight and Insight
January 18, 2022, 8:00 PM – 9:00 PM EST – General Program Overview and Expectations
February 3, 2022, 6:00 PM to 7:00 PM EST – General Overview and Open Program Discussion
The recruitment period closes on March 4, 2022 at 5:00 PM EST. Selected applicants will be invited to participate in a boot camp that will result in the final selection of 10 companies for Cohort 2. The final selection will be announced May 3, 2022.
Apply to Cohort 2 of Venture For ClimateTech here.
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