CHICAGO – Clean Energy Trust is calling on the most innovative cleantech startups from across the Midwest to compete in the 6th Annual Clean Energy Trust Challenge, a single-day pitch competition that will award $1 million to start-ups in April 2016 – nearly ten times the amount distributed at the annual event in 2011.
The Clean Energy Trust Challenge brings together venture capitalists, industry executives, civic leaders, the media and the public to watch startups pitch their businesses and learn from keynote addresses by prominent thought leaders. By combining access to capital with premier mentorship and national exposure, Clean Energy Trust Challenge finalists receive value beyond funding. Through CET’s direct investment, finalists gain commercialization assistance, mentorship, access to an elite partner network and the promotion of a supportive clean energy community and business climate.
CET invested in Detroit’s GreenLancer, which has since gone on to raise $5 million in Series B funding after winning the Clean Energy Trust Business Model Innovation Prize in 2014.
Entrepreneurs, researchers, and students with the best clean energy ideas and business plans are invited to compete for a chance to be selected to participate in the nationally acclaimed competition. This year’s categories include: Renewable Energy, Advanced Transportation, Efficiency, Energy Storage, Building Technologies, Microgrids/Smartgrids, Bioenergy, Water-Energy Nexus, and Internet of Things/Smart Cities.
Since 2011, CET has invested in 29 startups across the Midwest states. Clean Energy Trust Challenge companies have gone on to raise an additional $71 million in follow-on funding and have created more than 300 new jobs.
“Every year, the Clean Energy Trust Challenge helps boost the environment for Midwest cleantech startups by providing a platform of opportunity and funding that is essential for the growth of early-stage businesses. I can’t wait to see what this year’s applicants have to offer,” said Amy Francetic, CEO of Clean Energy Trust. “CET Challenge award winners are accomplishing great things after completing our accelerator program and we’re very proud to have played a vital role in their successes.”
Since the first Clean Energy Trust Challenge, CET has awarded more than $2 million to deserving companies. This year, prize sponsors for the 6th Annual Clean Energy Trust Challenge include the Department of Energy, Wells Fargo, The Pritzker Foundation, United Airlines, and the Hanley Family Foundation, among others.
Student-led teams developing innovative business plans for their MBA, researchers working on promising research and early stage startups in the beginning stages of raising funds and generating revenue are eligible to apply by going to www.cleanenergytrust.org/challenge.
All applications will be thoroughly reviewed by a panel of industry, finance and innovation experts who will select a group of finalists. Finalists will be notified in early 2016 and be invited to pitch their company to an esteemed panel of judges who will select the awards.
The full day competition will take place on April 12 at Venue Six 10 at the Spertus Institute, 610 South Michigan Avenue, Chicago, IL 60605.
