Advanced Technology Ventures Announces Support for the California Cleantech Open
Inaugural competition features nation's largest prize devoted to environmentally-conscious technology development
SAN FRANCISCO, April 20, 2006 — Advanced Technology Ventures (ATV), a bi-coastal venture capital firm, today announced its support for the California Cleantech Open, a business plan competition that supports ATV's goal of furthering innovation in the clean tech industry. Organizers of the California Cleantech Open also announced this week that they are now accepting business proposals. Winners will be awarded more than $500,000 in cash and service prizes at a Sept. 29 event in San Francisco.
The competition encourages professionals and students to submit proposals and compete for prizes in five categories: California Investor Owned Utilities Energy Efficiency Prize, AMD Smart Power Prize, Lexus Transportation Prize, Agora Foundation Water Management Prize, and the Renewable Energy Prize, which has yet to be named. Business plans can be submitted through the California Cleantech Open Web site: www.CaCleanTech.com.
"Clean technology is an area that presents a huge opportunity — both from an investor's and entrepreneur's perspective. The need for technologies that help sustain the world's growing population without causing more damage to the environment will only increase with time," said Jack Harrington, general partner, Advanced Technology Ventures. "ATV sponsored this competition because we are committed to attracting entrepreneurs and encouraging innovation in the clean technology market."
Judges will be drawn from an elite panel of experts including venture capitalists like Jack Harrington from ATV, researchers and faculty from the state's leading universities and research laboratories, and prominent industrialists from related sectors to select a winner in each category and an overall winner.
"Our objective is quite simply to act as an innovation catalyst, to help the 21st century become the clean tech age and establish California as the leader that makes it happen," said Laurent Pacalin and Mike Santullo, market-based environmental entrepreneurs and co-chairmen of the competition. "We are very fortunate to have visionary leaders in the venture capital community like ATV that are contributing to this new wave of innovation toward a more sustainable future."
About Advanced Technology Ventures
Founded in 1979, Advanced Technology Ventures (ATV) is a bi-coastal venture capital firm with more than $1.4 billion in capital under management. ATV works closely with entrepreneurial teams in several technology markets, including communications, IT infrastructure, software and services, and healthcare technologies, to build emerging-growth business ventures into market leaders. With more than 25 years of experience, ATV has a proven track record of success in helping to build strong, sustainable business enterprises. For more information, please visit our Web site at www.atvcapital.com.
About The California Cleantech Open
The mission of the California Cleantech Open is to encourage the development of clean technology companies that foster a healthy natural environment — companies that provide environmental benefits in the areas of renewable energy, energy efficiency, pollution reduction and resource protection, and conservation. The competition will also serve as a platform to educate the public, as well as the participants, about the environmental challenges we face and new technologies that can provide solutions to those challenges. The inaugural competition opens in April 2006, and winners will be announced in September at a finals event in the Bay Area. The best plan submitted from five categories — Energy Efficiency, Renewable Energy, Smart Power, Transportation, and Water Management — will be awarded a bundle of prizes to create a sustainable business. Prize sponsors to date include: Energy Efficiency — Pacific Gas and Electric Company, Southern California Edison, Southern California Gas Company, and San Diego Gas and Electric; Smart Power — AMD; Transportation — Lexus; Water Management — Agora Foundation, led by President Wynnette LaBrosse. The competition was initiated by the Massachusetts Institute of Technology Club of Northern California (MITCNC) with charter partners Wilson Sonsini Goodrich & Rosati, Horn Murdock Cole, A&R Partners, and Plug & Play Real Estate.
A group of entrepreneurs and technologists from Silicon Valley — Derry and Charlene Kabcenell, Mark Farley, Frank H. Levinson, Geoff Ralston, and Michael and Amy Santullo — have generously provided the charter funding to launch the competition. The 2006 Host City is the City of San Francisco. Venture capital partners are Advanced Technology Ventures, Chevron Ventures, Draper Fisher Jurvetson, Foundation Capital, New Enterprise Associates, J.P. Morgan's Bay Area Equity Fund, and Venrock Associates. Innovation partners include Electric Power Research Institute, Lawrence Berkeley National Laboratory, Lawrence Livermore National Laboratory, Palo Alto Research Center, SRI International, and Technology Ventures Corporation. Competition partners include Clean Edge and Clean Tech Venture Network. University partners include: the Lester Center for Entrepreneurship & Innovation at the University of California, Berkeley; Berkeley Institute for the Environment; Business Association of Stanford Engineering Students; Ward W. and Priscilla B. Woods Institute for the Environment at Stanford University; Stanford Graduate School of Business Environmental Management Club; and Stanford Graduate School of Business Energy Club. Competition supporters include California Clean Energy Fund, Environmental Entrepreneurs, CalPERS, and Natural Resources Defense Council. The competition co-chairs are Laurent Pacalin and Michael Santullo.
Acterra: Action for a Sustainable Earth, a California 501(c)3 non-profit public benefit corporation (Tax ID 23-7064937) is the administrative and fiscal sponsor of the 2006 California Cleantech Open legally responsible for the activities of the competition. Acterra is located at 3921 East Bayshore Road, Palo Alto, CA 94303-4303. Additional details about the program are available at www.CaCleanTech.com.