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ROCHESTER, N.Y., Jan. 3, 2024 (Globe Newswire) — climate technology venture Today, we announced that we are now accepting applications for companies or entrepreneurs to be considered as the fourth group. Venture For ClimateTech provides up to $50,000 in non-dilutive funding to cohort teams, along with one-on-one mentoring, access to investors, and preparing early-stage companies for first customers, pilots, and investments. We provide educational programs for This high-touch accelerator, he said, is divided into three phases and will run over six months, culminating in an in-person pitch at Climate Week New York.
This program provides important support, especially considering current investment trends.by PWC Climate Technology Status Report 2023, total venture and private equity investments in 2023 decreased by 50.2% year-on-year. In addition, private market equity and grant funding to climate technology startups also fell by 40.5%. Despite the decline, cumulatively, previous companies that participated in Venture For ClimateTech have raised more than $44 million in follow-on funding since the program’s inception, averaging $1.1 million per company. In the latest cohort, nine founders raised more than $7 million in private venture capital and seven companies ran pilots with potential long-term customers.
“By increasing the size of our cohort from 10 to 20 teams this year, we not only doubled the potential impact, but also helped the program reduce the risk of investing in early-stage companies. We were able to demonstrate how it helps,” said Managing Director Jacques Baron. Venture for Climate Tech’s “In 2023, our team was successful in securing more private investment, and we did it faster than any previous team. Their ability to close rounds was , which directly contradicts VC investment trends in Q1 and Q2.”
Since the program’s inception, five founders have received consecutive awards. Breakthrough Energy Fellowship, one received a Breakthrough Explorer grant. In addition, three founders were awarded fellowships. Department of Energy Research Institute Embedded Entrepreneurship Program (sleep).
Innovators and founders with ideas and technologies that have the potential to significantly reduce greenhouse gas emissions are encouraged to apply by March 3, 2024. Applicants can be located anywhere in the world, but must have a plan for how their solution will benefit New York State.achieve the climate goals set out in Climate Change Leadership and Protection Act. The fourth cohort will focus on decarbonizing his four key industry sectors: construction, transportation, power grids and industry. Companies with solutions that actively support communities affected by climate change are also encouraged to apply to the competitive program.
Venture For ClimateTech was founded in 2021 to accelerate New York State’s equitable energy transition by advancing climate technology solutions toward commercialization. The program provides founders with the practical support they need to reach their first customers, launch pilots, and secure investment. It is supported by the New York State Energy Research and Development Authority (NYSERDA) and managed by NextCorps and SecondMuse.
Richard Bourgeois, Innovation Program Manager at NYSERDA said: “The continued success of the Venture For ClimateTech program is fostering the growth of innovative companies and providing them with the support they need to bring new climate solutions to market. Greenhouse gases from all sectors of the economy Public and private investments in technologies that reduce emissions are critical to addressing the effects of climate change and ensuring a cleaner future for all New Yorkers.”
“Venture for ClimateTech is very beneficial to Cascade Biocatalysts. We are in our first year as a company, so there is still a lot to figure out,” said Alex Rosay, CEO and co-founder of Cascade Biocatalysts. Masu. “What I loved about this program was that I received great mentorship and worked with industry thought leaders, experts across the functional areas required to run a business, and other startups experiencing similar challenges. This access, the resources New York State provides, and the excellent experts have been a game-changer. It was a very constructive way to build a strong foundation from which we can grow.”
Those interested in applying are encouraged to attend an informational webinar to learn more about the program and assess whether it is a good fit for them. For more information and to register for a session, please visit this website.
The information session will be held virtually on the following dates.
- Introduction and overview of Venture For ClimateTech
January 9, 2024 from 2:00 PM to 3:00 PM EST - How to start a climate change technology startup
January 17, 2024 from 6:00 PM to 7:00 PM EST - Open Q&A with Venture for ClimateTech Alumni
February 8, 2024 from 6:00 PM to 7:00 PM (EST) - Industry Alumni AMA: Transportation
February 13, 2024 2:00 PM to 3:00 PM EST - Open a Q&A venture for climate tech
February 28, 2024 10:00am – 11:00am (EST)
Selected applicants will be invited to attend a bootcamp, which will result in a final selection of 20 companies for Cohort 4, which will be announced in May.
Apply to Cohort 4 of Venture For ClimateTech here.
Media contact:
For more information, media, or digital content, please contact Media Relations Support below.
Shannon Wojcik
585-831-6267
shannon@rkgcomms.com
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