Venture For ClimateTech has selected the next 20 early-stage startups to join its accelerator program dedicated to the commercialization of impactful climate technologies to power the future of clean tech. Participating teams receive up to $50,000 each in non-dilutive funding as well as one-on-one mentoring and curriculum catered to prepare teams for first customer contracts, pilot runs, investors, and business growth. The program is administered by NextCorps and supported by the New York State Energy Research and Development Authority.
The 20 companies were selected from a pool of 311 applicants across 66 countries. Applicants undergo a rigorous technical evaluation and vetting process, culminating in a pitch to a screening committee. The top 40 companies were chosen from the applicant pool to participate in the Venture For ClimateTech Bootcamp, a week of educational programming and exercises to experience what the program is like, while being evaluated on performance, materials, and engagement.
The new cohort of Venture For ClimateTech joins a league of 58 alumni companies working to address and mitigate the effects of climate change. Since 2021, team sizes have increased by 80 percent on average, creating 123 new jobs. Cumulatively, the past four cohorts have secured more than $107 million in follow-on funding, averaging roughly $1.8 million per company.
“These teams represent the top 5 percent of climate innovation startups around the globe, based on their technical expertise, innovation, and team composition — that made the selection process incredibly difficult,” said Jack Baron, managing director of Venture For ClimateTech. “Cohort 5 spans the entire energy spectrum — solar, wind, hydrogen, biomaterials, and storage. From energy leadership to greenhouse gas reduction, these companies exemplify global excellence in innovation and job creation. Once again, New York State is leading the way, thanks to support from NYSERDA.”
“The companies selected to participate in Venture For ClimateTech’s next cohort are on the cusp of scaling innovative technologies that reduce emissions and advance innovative clean energy solutions,” said Stephen Bravo, NYSERDA director of commercialization. “NYSERDA is proud to support the development and commercialization of products that can contribute to a more sustainable future in New York State.”
The three-phase accelerator program kicked off in mid-May with support and mentorship on customer discovery, investor pitching, business validation, building a team, and pathways to scale.
The selected companies range from California’s 17, Inc. that builds modular green ammonia units, to solar panel architecture manufacturer SunSpan.
