McKinstry setting up new clean tech 'incubator' in Seattle |
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This totally slipped under my radar last week, but the Seattle construction giant McKinstry announced that it plans to open a new 24,000 square foot facility next Spring to jumpstart new clean tech businesses. The facility -- designed by architects NBBJ -- will be developed in an "neo-industrial" style.
Xconomy's Greg Huang gathered some reaction on the new facility today, chatting with folks like Rick LeFaivre of OVP Venture Partners and Michael Butler of Cascadia Capital.
Business incubators are a tough business, as many folks found out during the dot-com bust. And while we've seen the idea revisited more recently in the Internet realm in the forms of Y Combinator, TechStars and The Founder Institute, we haven't seen as much energy going into the idea of a clean tech incubator.
“We are on the forefront of creating some of the most innovative solutions to eliminate energy waste in the built environment,” said Dean Allen, CEO of McKinstry. “Now with the Innovation Center we will have the opportunity to quickly advance new technologies that are working toward that goal, as well as partnering with innovative entrepreneurs to bring new technologies to market.”
I haven't visited the McKinstry offices in Georgetown, but I've heard there nothing short of amazing. McKinstry -- founded in 1960 -- employs over 1,600 people and had revenue of $400 million last year.
Entrepreneurs who are accepted into the innovation center will work on projects in sustainable biofuels, wind manufacturing, solar energy, energy efficiency and smart grid technology, with participants able to tap into the "brain trust" at McKinstry.
It is unclear what requirements it will take for those entrepreneurs to be accepted into the incubator.
But the establishment of the Innovation Center provides a much needed spark for the Seattle area clean tech industry, which lost some luster after the blow up of Imperium Renewables.
But things are starting to pick up. For example, tonight 12 semifinalist companies (from a field of 56 companies) will gather for the 2009 Clean Tech Open.
Maybe some of them will find a future home at McKinstry.
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