JPMorgan Chase Awards CleanTech Alliance with Small Business Development Grant

SEATTLE, WA – JPMorgan Chase awarded the CleanTech Alliance a $175,000 grant with a focus on the development of new cleantech businesses. The money will fund existing initiatives executed and coordinated by the CleanTech Alliance, as well as a new commercialization program that aims to support the creation of new companies and jobs in the cleantech sector.

 The development of new cleantech businesses will begin with the coordination of a variety of business competitions and programs at the local, regional, and state level. The Pacific Northwest Cleantech Open is a longstanding program that has excelled in identifying and mentoring early stage cleantech businesses. The CleanTech Alliance plans to assist and enhance this program by curating dedicated staff. Coordinating the efforts of other existing programs will develop a pipeline for the Cleantech Open, thus enhancing the quantity and quality of new businesses engaged with the program. Mentorship is vital to the Cleantech Open as entrepreneurs prepare for the competition. Funding will also be used to seek out and coordinate a pool of mentors that will provide assistance to new businesses prior to the competition.

Another major step in cleantech small business development is offering cost effective services. As a trade association, the CleanTech Alliance has the ability to partner with vendors to provide its members with various business services at lower rates. Currently, the CleanTech Alliance offers member companies (with 2-75 employees) health care coverage at lower rates.

Visibility is also paramount to supporting new cleantech companies. The CleanTech Alliance plans to amplify its existing resources and create new platforms for connecting, promoting, and communicating with entrepreneurs.

About the CleanTech Alliance
CleanTech Alliance is the largest state-level trade association of its kind in the nation, representing hundreds of businesses and organizations from the entire state of Washington. Founded in 2007 by business and cleantech leaders, the Alliance facilitates the generation and growth of cleantech-focused companies and jobs, educational programs, research, products, and services. The Alliance provides the perfect forum to share resources and expertise for developing smarter, cleaner more efficient ways of living and doing business. Learn more at www.cleantechalliancewa.org.

About JPMorgan ChaseJPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About Pacific Northwest Cleantech OpenThe Cleantech Open is a not-for-profit organization that runs the world’s largest accelerator for cleantech startups. Our mission is to find, fund and foster entrepreneurs with big ideas that address today’s most urgent energy, environmental and economic challenges. The Pacific Northwest region was created in 2009 by organizers in Seattle, Portland, Tri-Cities and Boise. Eleven companies from Idaho, Oregon and Washington competed as semifinalists in the 2009 competition, with three finalists continuing to the national round. Hydrovolts, one of the national finalists, won the National Sustainability Award, given out in November 2009.

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