Green VC has recently added a list of crowdfunding sources to the Green Funding Sources section. Crowdfunding websites enable entrepreneurs, non-profits, and their supporters to solicit funds from individuals ("the crowd") via the internet.
Green VC thanks Rob Stewart, a graduate student pursuing an M.A. in Urban Sustainability at the Antioch University of Los Angeles, for his work in developing the initial version of this list. If you have feedback or suggestions please send an e-mail to info [at] greenvc.org
True North Venture Partnersannounced this week the launch of its new venture capital company along with its $300 million greentech fund. Founded by Michael Ahearn, former CEO of First Solar, the company said the fund would be used to invest primarily in early stage companies in the energy, water, agriculture and waste industries. Investments will range from $100,000 to $25 million.
"We are focused on sectors where the global problems are pressing, the need for disruptive innovation is great and the challenges faced by early stage entrepreneurs and investors are particularly daunting," said Ahearn. "Our goal is to identify exceptionally talented entrepreneurs with the vision, drive and business potential to significantly improve the world and help them realize their ambitions."
"We are assembling a team of partners and advisors who combine successful investment experience with proven track records in developing start-up businesses into significant enterprises," said Ahearn. "We can help entrepreneurs navigate the obstacles that they will inevitably face in fundamentally transforming global industries."
True North Venture Partners, which has offices in Chicago, IL and Phoenix, AZ, has officially begun operations and expects to be fully staffed by the end of 2011.
- This post was written by Rob Stewart, a graduate student pursuing an M.A. in Urban Sustainability at the Antioch University of Los Angeles, and edited by Leonard Adler, Founder and Publisher of Green VC.
Greenstart, a cleantech startup accelerator, announced yesterday that it is accepting applications for its first three-month accelerator program. The application deadline is July 3rd, and the accelerator session will begin on September 12.
Greenstart is targeting “fast cleantech” startups in its program. Companies will be expected to develop a prototype of their product or service within 45 days, share a prototype with customers for validation and feedback within the program’s timeframe, and have a strong likelihood of producing revenues within six months. Entrepreneurs may be pursuing innovations in areas such as clean energy sources, clean energy distribution, smart grid, energy efficiency software, and the clean web.
Entrepreneurs accepted into the program will receive $25,000 in seed funding, mentoring, and introductions to leading cleantech angel and venture capital investors. During the program, participants will be expected to spend the majority of their time in San Francisco, where they will have access to a collaborative workspace, networking events, and other resources. As mention in the Greenstart FAQ, Greenstart will receive 3 - 10 % common stock equity stake in participating companies.
"It's inspiring to see a rising wave of entrepreneurs who want to make money while making a difference, and we firmly believe that they have the power to bring about impactful and innovative solutions to the energy problem," said Greenstart Managing Partner Mitch Lowe. "But we know that starting a company is hard work, so we want to create an environment where these companies can thrive and get the best advantage possible."
The Skoll Awards for Social Entrepreneurship is a program of the Skoll Foundation that provides a cash award to social entrepreneurs whose work has the potential to make a significant impact on issues such as environmental sustainability, health, tolerance and human rights, institutional responsibility, economic and social equity, and peace and security. This award is intended to provide core support for organizations with a track record of at least than three years to help them expand their programs and capacity to deliver long-term, sustainable change. Awards are presented at the Skoll World Forum, which takes place annually in Oxford, England in March.
The final application deadline for the 2012 Skoll Awards for Social Entrepreneurship is April 27, 2011. For more information:
The ecomagination Challenge seeks breakthrough ideas to create a smarter, cleaner, more efficient electric grid, and accelerate the adoption of more efficient grid technologies. Proposals are sought in three categories -- Renewables, Grid and Eco Homes/Eco Buildings. This competition is open from now until September 30, 2010 to anyone aged 18 years or older and all legally formed entities. Entries may be submitted via the ecomagination Challenge website.
Selected entrants will be offered the opportunity to develop a commercial relationship with GE through:
Investment: The $200 million capital pledge of GE and its partners will be invested globally into promising start-ups and ideas
Validation: Evaluate entrant’s business strategy through in-depth discussions with GE's technical and commercial teams
Distribution: Explore partnership opportunities with GE to scale a business and create global reach
Development: Leverage GE‘s technical infrastructure and GE Global Research Centers to accelerate technology and product development
Growth: Explore opportunities for utilizing existing GE customer to take Challenge products to market
In addition, five entrants will receive a $100,000 "innovation challenge award" acknowledging their entry as an example of outstanding entrepreneurship and innovation.
"Innovation is the engine of the global effort to transform the way we create, connect and use power," said GE Chairman and CEO Jeff Immelt. "At GE we have invested broadly and deeply in digital energy solutions and see this as a substantial market for us, but we can’t do it alone. We want to work with our partners to make sure we have a comprehensive digital energy offering. This challenge is about collaboration and we are inviting others to help accelerate progress in creating a cleaner, more efficient and economically viable grid. We want to jump-start new ideas and deploy them on a scale that will modernize the electrical grid around the world."
GE CMO Beth Comstock said, “We took on a challenge when we launched ecomagination five years ago and we have learned about the power of partnerships to deliver clean energy solutions today. The challenge announced today is about collaboration and harnessing the promise of fledgling ideas and businesses to transform our energy future. We are confident in people’s willingness to change the way the world uses energy and in the ideas that will make this possible.”
"The Smart Grid is a new platform and a new market that is just beginning to be explored. Great ideas on how to do this can come from anywhere, so this competition is designed to tap the widest possible range of innovators, from big companies to entrepreneurs to students," said Chris Anderson, who is serving as an advisor on the Challenge.
“Modernization of global electricity transmission and distribution systems have simply not kept pace with our society’s growing demand for clean and highly reliable power,” said Gina Domanig, Managing Partner of Emerald Technology Ventures. “Smart Grid innovation has been a significant area of investment focus for Emerald over the past decade and we are pleased to be a partner in the GE ecomagination Challenge.”
Foundation Capital General Partner Paul Koontz said, “Global power grids make up the largest networks in the world. In most cases, the technology on which they are based is essentially 100 years old. The opportunity to reinvent how energy is produced, distributed and consumed is extraordinarily large and is critical in the battle against climate change. We’re pleased to support GE’s initiative to engage the entrepreneurial community, and the powerful innovation engine it represents, in this effort.”
"Kleiner Perkins Caufield & Byers is committed to a sustainable energy environment and are working to reduce the world's dependency on fossil fuel-based energy through our growing portfolio of innovative Greentech companies,” said Ray Lane, Managing Partner at Kleiner Perkins Caufield & Byers. We believe the Smart Grid is the information technology backbone that will enable faster scaling of energy innovations. Kleiner Perkins is proud to be a part of the GE ecomagination Challenge, and we are committed to working closely with GE and other investor partners to help commercialize the best Smart Grid innovations."
RockPort Capital General Partner Chuck McDermott said, “The electric power grid is the central nervous system of the global economy. Though today’s grid is a 20th century engineering marvel, the smart grid of tomorrow promises to revolutionize how we manage our homes, offices and factories and to maximize the use of next-generation clean energy resources. Through this challenge, we will match the best ideas and best entrepreneurs with GE’s commitment to innovation, unparalleled technical knowledge and its deep penetration into the most vital areas of the world’s energy infrastructure. Working together we can transform yesterday’s grid into a 21st century marvel.”
A video of the formal announcement of the ecomagination Challenge follows below.
The Skoll Awards for Social Entrepreneurship is a program of the Skoll Foundation that provides a grant of approximately $750,000 over three years to social entrepreneurs whose work has the potential to make a significant impact on issues such as environmental sustainability, health, tolerance and human rights, institutional responsibility, economic and social equity, and peace and security. This award is intended to provide core support for organizations with a track record of at least than three years to help them expand their programs and capacity to deliver long-term, sustainable change. Awards are presented at the Skoll World Forum, which takes place annually in Oxford, England in March.
The final application deadline for the 2011 Skoll Awards for Social Entrepreneurship is August 4, 2010. For more information:
Earlier this week Green For All released a series of five free guides that provide helpful resources for green entrepreneurs and businesses. These publications are:
Update: Investors' Circle is holding a funding workshop on January 6, 2010.
Investors' Circle (IC) is an angel investor network that focuses on enterprises that address social and environmental challenges. According to IC, since 1992 it has facilitated the flow of more than $133 million into more than 200 private companies and small venture funds focusing on energy & environment, food & organics, health & wellness, media & education, and community development.
Each year IC holds two venture fairs that bring together investors and entrepreneurs - a Spring event in San Francisco and a Fall event in Boston. IC is currently accepting applications from entrepreneurs interested in presenting at its 2010 Spring Venture Fair, which will take place from April 18-20, 2010. The application deadline is January 13, 2010.
February 7, 2010 is the next application deadline for Sparkseed, which provides seed funding, mentoring, and in-kind resources to collegiate social entrepreneurs. Sparkseed has thusfar provided support to 50 social innovators. It's 2009 class consisted of:
Capital Good Fund, Brown University The Capital Good Fund (CGF) provides low-income Providence residents with the capital and skills needed to raise their income levels and improve their quality of life. CGF collaborates with community partners to offer personal finance classes, as well as loans that boost small businesses and help immigrants become legal residents or citizens.
INeedAPencil.com, Harvard College INeedAPencil.com provides low-income high school students with high quality SAT prep online in order to reduce the achievement gap in college admissions.
Social Business Consulting Group, Cornell University The Social Business Consulting Group is a student-run nonprofit organization that provides pro bono consulting services to social entrepreneurs around the world. By connecting university students with meaningful projects, SBCG enhances the impact of social ventures, facilitates the exchange of ideas, and empowers students to make a difference.
The School Fund, Brown University The $150/year tuition fee in Tanzania is an enormous financial hurdle for many, and only about 70% of high school-aged Tanzanian youth attend school. The School Fund seeks to help solve this problem by establishing a website where the Tanzanian students learn to use the internet by posting profiles which supporters around the world can read and use to sponsor a student or a school.
Locra, Stanford University Locra provides a platform for NGOs and ordinary people to aggregate data about the developing world with the aim of fostering better collaboration between NGOs and the communities they serve. Odewo.org also serves to publish online the work of NGOs, and functions as a direct-donation platform to serve the world’s most marginalized people, in villages, slums, and refugee camps.
Green Handicraft Initiative, Northwestern University GHI links environmentally responsible consumers with community-based social entrepreneurship by helping impoverished villages in China launch sustainable rural enterprises and promoting the purchase of handkerchiefs and cloth bags as “green” substitutes for paper napkins and plastic bags to China's urban consumers.
Shepherd, University of Massachusetts, Amherst Shepherd is a collaborative website geared toward youth who want better food in their schools and communities. It combines data from multiple sources into a single tool that connects people to each other through technology. This enables them to learn about food issues and bring change to their communities.
Northwestern Sustainability Fund, Northwestern University NSF is a revolving loan fund designed to green the campus through resource conservation and renewable energy projects that will reduce Northwestern’s environmental impact and decrease its operational costs. These projects will increase environmental awareness on campus and show Northwestern community members the university cares about the environment.
The Skoll Awards for Social Entrepreneurship is a program of the Skoll Foundation that provides a grant of approximately $750,000 over three years to social entrepreneurs whose work has the potential to make a significant impact on issues such as environmental sustainability, health, tolerance and human rights, institutional responsibility, economic and social equity, and peace and security. This award is intended to provide core support for organizations with a track record of at least than three years to help them expand their programs and capacity to deliver long-term, sustainable change. Awards are presented at the Skoll World Forum, which takes place annually in Oxford, England in March.
Applications for the Skoll Awards for Social Entrepreneurship are accepted and reviewed by the Skoll Foundation throughout the year. The next application deadline is February 17, 2010.
