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March 17, 2016
Cleantech Startups: A Guide to Finding Funding
Financing a startup is not an easy task, especially in an emerging field like the cleantech industry. Often, the most difficult part of securing funding is knowing where to look. Good news — if you’re reading this post, then look no further! Here is a roundup of funding opportunities for clean energy startups in the Commonwealth:
- Catalyst – MassCEC, in partnership with the Massachusetts Technology Transfer Center (MTTC), provides funding to startups through our Catalyst Program Awards. The Catalyst program is designed to help early-stage clean technology startups in Massachusetts prepare for commercialization. Five $40,000 grants will be given to awardees, with up to two additional $40,000 grants reserved for companies that are specifically focused on water innovation. Interested? The deadline to apply is March 25, 2016.
- MassChallenge Boston – MassChallenge Boston is a four-month accelerator program that provides early-stage startups with everything they need to succeed, including free office space, mentorship, training, media and access to funding. The program offers over $1.75 million in cash awards and is open to any early-stage startup in any industry – not just clean energy! The deadline to apply for this accelerator is March 31.
- MassVentures START Program – Has your startup received a Phase II Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grant? If so, you’re eligible to apply for the MassVentures START program, which assists high-growth Massachusetts companies with commercialization in order to stimulate the Commonwealth’s Innovation Economy. Companies that meet the eligibility requirements and apply by April 4 may qualify for up to $200,000 in grants.
- Cleantech Open Northeast Accelerator – This Cleantech Open accelerator provides world-class mentorship, networking opportunities and 12 weeks of hands on training to cleantech startups in the Northeast! Participating startups are also eligible to receive up to $15,000 in cash and up to $15,000 in services, with one national grand prize winner receiving an investment of up to $100,000, along with $100,000 in services. The final deadline for submissions is May 1, but if you apply by the early-bird deadline of April 1, you get a $50 discount on your application fee!
There you have it—there are more opportunities for startup funding than you may think, especially in the Commonwealth, which is a national leader in clean technology. So what are you waiting for? Get applying!