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."