Please do not leave this page until complete. This can take a few moments.
Two Maine companies are among 38 semifinalists chosen to compete in a regional clean technology business incubator program that will help give the startups an extra leg up.
It could even come with a large cash prize and national visibility.
Introspective Systems of Peaks Island and Parent Technology Group of Windham were chosen out of 90 applicants to enroll in the Cleantech Open’s Northeast division, which will give them access to mentors, entrepreneurship education and funding opportunities. Cleantech Open, a nonprofit organization, seeks to “find, fund and foster entrepreneurs with ideas to solve our greatest environmental and energy challenges,” according to its website.
Ingrid Hartman, spokeswoman for Cleantech Open Northeast, told Mainebiz that inclusion in the business incubator program is significant because many clean technology companies cannot promise a fast return on investment and therefore may not be able attract traditional venture capital funding like other startups would.
“It’s risky from an investment perspective,” she said. “Our goal as an accelerator is to get companies through this difficult stage to a point where they have the connections they need to [build their own] ecosystem. Our roles is to connect them to the resources.”
Introspective Systems is developing a suite of software tools that aim to help architects and designers create sustainable buildings during the concept and design phases. The company’s founders told Mainebiz in June 2013 that they are counting on the growing sustainable construction design market to drive its business.
Parent Technology Group is developing technologies in tandem with the University of Southern Maine to improve the performance of photovoltaic textiles, according to the Maine Technology Institute, which provided the company a $25,000 seed grant last year.
Cleantech Open Northeast’s 2014 program formally begins on June 17 for a two-day summit at the Cleantech Open East Coast Academy at Barnard College in New York City. The Northeast Regional Final Judging and Awards Gala will then be held from Oct. 27-28 at Boston University School of Management and will culminate with eight or nine regional finalists based on the merit of a 10-minute pitch given to a panel of judges.
The regional finalists will then go compete at the National Final Judging and Global Forum from Nov. 13-14 in San Jose, California, where the winner will walk away with $250,000. Four regional winners will each receive $20,000 in in-kind services and cash.
Hartman said companies that were accepted into this year’s Cleantech Open were judged based on their team makeup, the technology they’re developing and opportunities for commercialization of their product. She said some semifinalists already have commercialized products while others are still working on prototypes.
Correction: A previous version of this article incorrectly stated the cash prize amount for the national competition. It was a sourcing error.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
Comments