Where are the green startups? |
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Where are the green startups?
At the TED conference last month, Microsoft co-founder Bill Gates called on researchers and entrepreneurs to create "energy miracles" in order to come up with innovate ways to reduce carbon emissions. But, according to a list released this week by Greentech Media, it is unlikely those miracles will be coming out of Gates' hometown.
Only one company from Washington state, Optimum Energy, made Greentech's list of the top 50 venture-backed clean tech startups. Oregon didn't fare any better. According to Sustainable Business Oregon, it too only had one company on the list: Corvalis-based NuScale Power.
That's hardly a solid entrepreneurial showing for a region which touts itself as eco-friendly.
I've written in the past about the lack of entrepreneurial energy and venture capital support for clean tech business, pointing out a piece in The Economist from a few years ago which noted that Toledo, Ohio was doing more than Seattle when it came to fostering ideas in the sector.
More recently, Propel Fuels founder Rob Elam blasted the state's inactivity when it came to supporting clean tech initiatives.
Interestingly, some of the Seattle venture capital firms have begun to take a closer look at clean tech deals in recent months. But, in the case of Voyager Capital and OVP Venture Partners, the deals have occurred outside the Seattle area.
Voyager recently backed Campbell, Calif.-based Coulomb Technologies, an electric car charging station provider which made the Greentech list. Meanwhile, four of the five bets that OVP has placed in the clean tech arena have occurred outside the Pacific Northwest.
So, what's it going to take to see more innovation (and money) flowing in the Pacific Northwest's clean tech sector?
Related Story: "Seattle's innovation economy scores another goose egg"
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