Local weather 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 change into part of its thirteenth cohort and obtain as much as $3 million in funding to scale up “local weather options with deep group influence.” Along with the funding, the group will even present the authorized startups with “tailor-made, wraparound assist to deal with crucial gaps in operations, gross sales, fairness and entry, coverage, company agreements, and extra.”

The nonprofit investor is in search of revolutionary local weather tech options throughout 7 completely different sectors — power, mobility, water, meals and agriculture, trade, the constructed surroundings, and nature-based options — and can be accepting 15-20 contributors for this spherical of funding. And the main target isn’t just local weather tech generally, however reasonably local weather tech in communities, and local weather options which have “social fairness” at their coronary heart. Two completely 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 Undertaking 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 growth, 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
• Undertaking 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 group of entrepreneurs, having made investments in over 150 firms to this point. Not solely has the group invested over $79 million in its portfolio firms, however these ventures have additionally collectively raised over $10 billion in follow-on funding.”

Elemental Excelerator says that it prioritizes funding equitable initiatives “in low-income and deprived communities (LIDAC) and frontline communities,” and that it doesn’t fund venture builders promoting third get together merchandise, consulting corporations, nonprofits, advertising or PR companies, or acquired startups. Functions for the funding spherical will shut on Could 31, 2024, with the ultimate choices being made in September 2024.