The initial investment focus of this new program are technologies of strategic interest to Garage’s corporate partners in the areas of materials science, energy technologies, advanced chemistry, and clean technologies. Investments will range from $500,000 to $5 million.
“Corporate investors see the need to participate more aggressively in the new venture ecosystem,” said Bill Reichert, managing director of Garage Technology Ventures. “At the same time, global strategic investors can bring a lot more than just money to an emerging technology company, if the relationship is managed correctly. The result is a win-win for entrepreneurs and for corporations.”
Additional information on this new program is available here. Interested companies can submit their executive summaries to Garage at summary [at] garage.com
D.light Design's mission is to replace every kerosene lantern in the world to provide everyone access to a basic human need: safe and bright light. By 2017, the company is aiming to have improved the lives of 150 million individuals. The following interview of D.light Design CEO Sam Goldman provides some additional background on the company:
D.light introduced its first lighting products earlier this year. The company's products are being sold in India and Africa, with market tests ongoing throughout the world. One of these products – the Nova – is shown below. It can be charged via AC or solar power (click the image for additional product information).
"D.light has a mission to eliminate kerosene lamps in our villages by providing high quality solar-based solutions at price points significantly below comparable products," said Sandeep Singhal, Partner at Nexus India Capital. "The productivity improvement from their solution is huge and we are very excited to be backing a team that has the commitment and leadership to fulfill this mission."
"We are delighted to receive the financial support of such a renowned team of investors. This is a high vote of confidence in our products and our business model," said D.light Design CEO Sam Goldman. "We look forward to better serving the millions of households who deserve and aspire for an increasingly higher quality of life – with greater economic and educational opportunities – that modern lighting provides."