California Cleantech Open Rewards Next Generation of Clean Tech Entrepreneurs
Clean Tech Innovators to Receive Over $600,000 in Prizes at November 6 Awards Gala
Palace of Fine Arts, San Francisco 5:30 pm to 9:00 pm
San Francisco, Calif., November 6, 2008 - California Cleantech Open, the innovation catalyst for clean technology, will hold its third annual gala awards ceremony at San Francisco's Palace of Fine Arts on November 6th, 2008. In a time of economic uncertainty, the growth and excitement around green technology and Clean Tech Open's business plan competition sends a strong signal of the local and national commitment to the future of the clean tech market. Competition alumni companies have created over 300 jobs in the past two years and have raised over $115 million in funding. This year, six of the competition's 43 finalists will receive $100,000 in individual prizes, helping them transform their green visions into viable clean tech businesses.
With technology ranging from eco-diapers to next generation solar innovations, the finalist teams have been thoroughly vetted on every aspect of their proposed business, and have demonstrated their dedication through a unique and valuable training program organized by Clean Tech Open. With sponsors Cleantech Circle and the U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy, Clean Tech Open has given competition contestants and finalists access to entrepreneurial workshops providing vital preparation and training in all facets of business planning, from legal to finance to marketing, and has offered mentoring services from successful entrepreneurs.
"Our economy and our energy market both demand rapid and meaningful innovation," said David Rodgers, Deputy Assistant Secretary, Energy Efficiency, U.S. Department of Energy. "I'm thrilled we can play a role in Clean Tech Open's mission to bring the necessary funding, training and infrastructure to the entrepreneurs who are not only solving some of our biggest problems, but creating the jobs and economic growth we all want to see."
One winning team will be chosen from each of the competition's six categories: Air, Water & Waste, Energy Efficiency, Green Building, Renewables, Smart Power, and Transportation. The prize, a "start-up in a box" package, includes $50,000 cash, and $50,000 in services including legal, accounting, public relations consulting, office space and executive search.
After careful review of business plans and presentations, this year's winners have been selected by a judging panel of academics, entrepreneurs and venture capitalists and will be announced at the November 6th ceremony. All finalist teams will be on site at the Awards Gala to discuss their technology, business plans, and thoughts on a green future.
"It's inspiring and incredibly rewarding to see the growth of Clean Tech Open. After three years, we've been amazed to see our 2006 and 2007 finalists go on to generate over $115 million in funding, and expect nothing less from the 2008 finalists," said co-founder Marc Gottschalk. "The time for clean tech innovation is now, and we are thrilled to see our network of VCs, government organizations, private industry and academics drive the continued growth and success of the clean technology industry."
The event is open to the public. Registration is mandatory for the Awards Gala, and is now open at www.CleanTechOpen.com.
When: Thursday November 6th, 5:30-9:30 PM
Where: Palace of Fine Arts, San Francisco
Speakers: Mayor Chuck Reed, City of San Jose, David Rodgers, Deputy Assistant Secretary, Energy Efficiency, U.S. Department of Energy, and Steve Vassallo, Principal, Foundation Capital.
About the Cleantech Open
A non-profit organization, The Cleantech Open is an innovation catalyst, helping today's clean tech innovators become tomorrow's viable cleantech businesses. The core of the Cleantech Open is an annual regional business plan competition that provides cleantech entrepreneurs and early stage companies with the training, services and insights they need to successfully go to market. To date, the Cleantech Open has assisted alumni companies in raising over $115m in funding, as well as created hundreds of jobs in the clean tech market. Fueled by a one of a kind network of over 400 volunteers and in-kind sponsors, the Cleantech Open connects the public and private sectors with a shared vision for making the cleantech sector a thriving economic engine. Past alumni start-ups include GreenVolts and Adura Technologies. To learn more, please visit: www.cleantechopen.com.
The Cleantech Open is under the fiscal and administrative sponsorship of Acterra: Action for a Sustainable Earth, a California 501(c)3 non-profit public benefit corporation. Acterra is located at 3921 East Bayshore Road, Palo Alto, CA 94303-4303.
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