Cascadia CleanTech Accelerator Announces Partnerships with Craft3 and Element 8 to Help Emerging Startups Identify Funding Pathways
Cascadia CleanTech Accelerator announced partnerships with Craft3 and Element 8 that will help the accelerator program’s 2017 cohort of cleantech startups identify and prepare for potential funding pathways. Craft3 is a nonprofit regional lender with a deep history of lending into the clean energy and technology space. Element 8 is a member organization of private, accredited angel investors focused on funding early-stage cleantech companies.
Powered by Oregon BEST and CleanTech Alliance, the Cascadia CleanTech Accelerator delivers a structured accelerator curriculum, mentorship and industry connections to cleantech startups. The accelerator program is accepting applications for its 2017 cohort through May 1 at www.CascadiaCleanTech.org.
“Element 8 and Craft3 are two of the most active cleantech funding organizations in our region,” said David Kenney, President & Executive Director of Oregon BEST. “Partnering with Element 8 and Craft3 provides a tremendous level of expertise and visibility to help the Cascadia CleanTech Accelerator cohort understand funding pathways and how to properly finance their companies now and into the future.”
“Partnering with the Cascadia CleanTech Accelerator connects Craft3 with promising companies creating the next generation of clean technologies and services,” said Brad Hunter, Vice President and Senior Business Leader at Craft3. “Working side-by-side with the accelerator cohort companies allows us to share guidance and support to ensure their financial strategies and early financial decisions position them for long-term growth and success. It’s a great start to a lasting relationship across our region and is a perfect fit for Craft3 as one of the leading non-bank commercial clean energy lenders in Washington and Oregon.”
“Element 8 has completed 74 major investments worth more than $29 million in the past 10 years. That high level of deal flow depends on solid relationships and a steady flow of investable cleantech startups,” said Bill Lemon, Co-Chair of Element 8. “The Cascadia CleanTech Accelerator curriculum, funding bootcamp and mentorship programs allow our members to identify and work with promising new startups that will hopefully turn to Element 8 for equity funding down the road.”
The Cascadia CleanTech Accelerator program focuses on business modeling, customer discovery, product development, go-to-market strategy, financial planning, funding pathways and creating the industry connections needed to succeed. Each participating cleantech startup receives:
- One-on-One Mentorship from cleantech industry leaders to help with business planning, intellectual property protection, marketing strategy, financing and more.
- Expert advice on manufacturing scale-up, prototyping and development.
- Investor connections and introductions from across the region. The 2017 winner will be invited to present to a group of cleantech angel investors.
- Business connections from both Oregon BEST and the CleanTech Alliance networks that deliver access to industry leaders and service providers from across the region.
- Hands-on workshops to assist with business model creation, product development, market development and funding strategies.
- Weekly videos, webinars and panels presented by industry experts. Each guides startups through the commercialization process while sharing valuable insights and lessons learned.
- Customer discovery assistance to hone minimally viable product and go-to-market strategy.
- Company and brand visibility from established Oregon BEST and CleanTech Alliance industry events, programs and marketing outreach.
- Access to prize money and in-kind services. Participating startups compete for non-dilutive cash prizes along with in-kind services from partners.
The 2017 Cascadia CleanTech Accelerator program runs May through September. Applications for the 2017 cohort close May 1, 2017. For more information, or to apply, visit www.CascadiaCleanTech.org.
Craft3 is a nonprofit Community Development Financial Institution specializing in loans that strengthen the economy, families and environment. It lends to businesses, nonprofits and individuals throughout Oregon and Washington. Since inception in 1994, Craft3 has invested more than $423 million from offices in Seattle, Spokane, Port Angeles and Walla Walla, Washington and in Bend, Astoria and Portland, Oregon. To learn more, visit www.Craft3.org.
About Element 8
Element 8 is the first angel investment group in North America to focus exclusively on cleantech, and continues to be a leading funder of early stage companies across the continent. Element 8 pairs its members’ collective expertise with outstanding entrepreneurs to help build successful companies that accelerate the transition to a cleaner future and prosperous sustainable world. To date, members have invested more than $29 million in 74 companies and capital funds in California, Colorado, Hawaii, Illinois, Maryland, Montana, New York, Oregon, Virginia, Washington (state), Washington, D.C. and British Columbia, Canada. More information is available at: www.element8angels.com.
About Oregon BEST
An economic development catalyst, Oregon BEST funds and supports innovative cleantech startups across Oregon, connecting startups with state and federal resources, while preparing these companies for follow-on investment through a series of focused programs. Oregon BEST provides leadership and leverages its expertise, resources and relationships to achieve impact beyond its scale. Founded in 2007, Oregon BEST is an independent nonprofit supported by the Oregon Innovation Council and Business Oregon. Learn more at OregonBEST.org.
About the CleanTech Alliance
CleanTech Alliance represents more than 300 member companies and organizations across the greater Northwest region. Founded in 2007 by business leaders, the organization facilitates the generation and growth of cleantech companies, jobs, products and services to advance the cleantech economy. CleanTech Alliance offers a range of business services and benefits uniquely designed to help businesses gain visibility, access services at a lower cost and benefit from public policy. Learn more at www.CleanTechAlliance.org.