Climate Tech Startups: Apply For Up To $3M In Funding From Elemental Excelerator

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Elemental Excelerator is at the moment accepting functions from local weather tech startups to develop into part of its thirteenth cohort and obtain as much as $3 million in funding to scale up “climate solutions with deep community impact.” Along with the funding, the group will even present the authorized startups with “tailored, wraparound support to address critical gaps in operations, sales, equity and access, policy, corporate agreements, and more.”

The nonprofit investor is searching for revolutionary local weather tech options throughout 7 totally different sectors — power, mobility, water, meals and agriculture, business, the constructed surroundings, and nature-based options — and can be accepting 15-20 contributors for this spherical of funding. And the main focus isn’t just local weather tech usually, however moderately local weather tech in communities, and local weather options which have “social equity” at their coronary heart. Two totally different funding tracks are supplied by Elemental — $350,000 per firm within the Technique Observe, and as much as $3 million per firm within the Venture Observe.

“As local weather financing evolves, we’re dedicated to addressing crucial funding gaps and increasing alternatives for impactful initiatives. Over the previous 5 years, we’ve noticed a rising disparity between early- and late stage funding, notably for venture deployments. To bridge this hole, Elemental is rolling out its largest capital alternative but, together with expanded companies for venture improvement, finance and group engagement. We’re thrilled to open functions and welcome new additions to our portfolio. — Danya Hakeem, VP of Portfolio at Elemental Excelerator

With a purpose to be eligible to use to Elemental Excelerator, the minimal necessities are:

• Be a startup addressing local weather change and associated points
• Be a for-profit, stand-alone enterprise
• Have not less than two full-time staff
• Have not less than an working prototype
• Venture Observe candidates are required to have not less than one preliminary pilot deployment in progress or accomplished

“For over 14 years, Elemental has been fostering a vibrant community of entrepreneurs, having made investments in over 150 companies to date. Not only has the organization invested over $79 million in its portfolio companies, but these ventures have also collectively raised over $10 billion in follow-on funding.”

Elemental Excelerator says that it prioritizes funding equitable initiatives “in low-income and disadvantaged communities (LIDAC) and frontline communities,” and that it doesn’t fund venture builders promoting third social gathering merchandise, consulting companies, nonprofits, advertising or PR companies, or acquired startups. Applications for the funding round will close on May 31, 2024with the ultimate picks being made in September 2024.