Biz plan competitions go green |
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Mass High Tech
Biz plan competitions go green
There's been a lot of chatter recently about how Washington state is missing the clean tech revolution. Now, Pacific Northwest entrepreneurs who specialize in smart grid, geothermal or other clean tech sectors will have a chance to strut their stuff.
The Clean Tech Open business plan competition is coming to Seattle. Entrepreneurs from Idaho, Oregon and Washington will have the chance to compete for $300,000 in prize money, as well as professional services from lawyers, accountants and venture capitalists.
And it is not the only competition coming up this Spring, with The Zino Society will host its third annual Green Investment Forum April 22 in Seattle. It plans to award $50,000 to the best clean tech opportunity, choosing from a dozen companies.
Those who think they have the next great idea to solve global warming or the energy crisis better polish those presentation skills and rework the business plan.
At the Clean Tech Open, three companies from the Northwest competition will receive $50,000 each. Those entrepreneurs will then have the chance to move on to a national competition where they can win $250,000.
That's pocket change, of course, in the clean tech business. But the validation could lead to much bigger checks.
The Clean Tech Open has been held in California for the past three years, with past winners securing more than $125 million in venture funding. (That's not pocket change.) To apply, companies must have raised less than $300,000 and have at least two employees.
An information session will be held April 15 at the Arctic Hotel in downtown Seattle, with executive summaries due May 30. Finalists will be selected in June, with those companies receiving mentoring services as part of the Clean Tech Open Accelerator program. Companies that have completed the program include Adura Technologies, Cool Earth Solar and GreenVolts.
The Zino event will feature McKinstry CEO Dean Allen, as well as a panel that includes Michael Butler of Cascadia Capital; Chris Martin of CleanScapes; Gregg Semler of Pivotal Investment and Haeryung Shin of Davis Wright Tremaine.
Applications for the Green Investment Forum will be accepted until 5 p.m. April 5.
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