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2019 Cleantech Open Northeast Impact Report


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Cleantech Open Northeast is dedicated to training cleantech entrepreneurs who are solving pressing energy and environmental challenges and growing the cleantech economy. The 2019 Cleantech Open National Winner Aeroshield and runner up Flux Marine are both graduates of Cleantech Open Northeast. 32 cleantech startups were in this cohort. Between June and December 2019 they have raised over $4 million.

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2019 Cleantech Open Northeast Impact Report

  1. 1. Cleantech Open Northeast 2019 IMPACT REPORT Cleantech Open Northeast | 2019 Impact Report
  2. 2. The 2019 business accelerator cohort consisted of 32 cleantech startups plus 3 development teams Cleantech Open Northeast | 2019 Impact Report
  3. 3. Letter from the Director Cleantech Open Northeast | 2019 Impact Report What a year! Cleantech Open Northeast (CTONE) swept the prizes at the Global Forum in Los Angeles. Both the National Grand Prize Winner Aeroshield (awarded $50,000) and Runner Up Flux Marine (also People’s Choice Winner and Best in Showcase) are from the Northeast! The CTONE Regional Winners are Aeroshield, Flux Marine, Quatcare, and Teratonix, and the Finalists are Enersion and Feedback Solutions. The Regional Winners each took home $10,000. What worked well in 2019? (1) Tricia Dinkel, Northeast Program Manager, keeps us focused, organized and smiling. Thank you, Tricia! (2) The Canadian Consulate in New York sent eight Canadian startups who brought enthusiasm and a strong work ethic. (3) We engaged alumni in all of our programming. (4) We made an extra effort to coach the Finalists prior to the Global Forum. CTONE relies heavily on our dedicated mentors, volunteers, alumni, and sponsors to keep the program running smoothly. Tim Hoffman was recognized at the NECEC Green Tie Gala as Startup Supporter of the Year (along with MassCEC), at the CTONE Regional Finals as Lifetime Service Award of the Year, and at the Global Forum as Volunteer of the Year. We especially appreciate our Regional Premier Sponsors MassCEC and NYSERDA for their continued support. Thank you to so many others for your generosity in time, expertise and funding! Let’s continue to improve the environment and grow the cleantech economy through innovation and entrepreneurship. Sustainably yours, Beth Zonis, Northeast Regional Director, Cleantech Open
  4. 4. PROGRAM Cleantech Open Northeast | 2019 Impact Report
  5. 5. Cleantech Open Northeast | 2019 Impact Report $274,000+ Awarded in cash prizes and in-kind offers 2019 Accelerator at a Glance Graduates 144 Mentors matched 43 Expert judges 32 “The program is great. I like the name accelerator, because you’re churning us up, and then BOOM!” - Robert Baxter and Jim Truslow, CBC Wind Energy “We can’t say enough how great an experience participating in Cleantech Open is. You are doing great work.” - Kenneth Kent and Amir Akbari, Anessa
  6. 6. Cleantech Open Northeast | 2019 Impact Report 2019 Highlights Feb-Mar-Apr | Recruiting May | Cohort Selection Jun | Academy & More Jul-Aug | Accelerator Sept | Regional Finals Oct | Wrap-up & Prep Nov | Global Forum Kickoff events in Boston, Cambridge, Fall River (MA), New York City, Providence, Pittsburgh and Philadelphia. 89 Applicants 46 Accepted 38 Participants Mentor Mixer events in Boston and NYC. 2-day East Coast Academy at the Boston Federal Reserve. Go-to-Market Clinic in Boston. Go-to-Market Clinic in NYC. Social Impact Clinics Finance Funding & Legal Clinics Tell Your Story Clinics Professional video production Mock Judging 32 Graduates 2-day Regional Finals in NYC: 1st day at Riverside Church with Columbia University; 2nd day at AWS Loft Launch alumni survey Release professional videos Finalist Mock Judging Begin 2020 Recruitment 3-day Global Forum and national pitch competition in Los Angeles, CA. Northeast teams take home National Grand Prize, National Runner-up, People’s Choice Award, and Best in Showcase.
  7. 7. Cleantech Open Northeast | 2019 Impact Report Events in Numbers Average Number of Event Days per Month 1954 Total Attendees 33 Events, majority in Boston & New York City 3.8 “I really enjoyed the workshop yesterday and hope the feedback I gave to companies was helpful.” - Kamal Dhagastani, Spring Lane Capital, regarding Boston Finance Funding and Legal event “Thank you very much to you for the invitation, I really enjoyed the night and I think quite all the startups did very good presentations!” - Luca Seletto, Enel, regarding Boston Mock Judging “The event was stellar! Truly exciting and wonderful to see the teams, presentations, mentors, and volunteers. Thank you for inviting me. I was so glad to be there.” - Tyra Rankin, Regional Director, CTOSC, regarding the CTO Academy
  8. 8. Cleantech Open Northeast | 2019 Impact Report Northeast Regional Finals The two-day event on September 25 and 26, 2019 brought together more than 400 attendees to celebrate the graduation of the 2019 Cleantech Open Northeast Cohort. 38 judges reviewed private pitches at Riverside Church. Columbia Entrepreneurship Innovation and Design Lab hosted the Investor Connect at which each company had three one-on-one meetings with local investors from private investment firms, corporates, and government entities. The cohort demonstrated their innovations in a public showcase at Amazon Web Services Loft. The top six companies pitched in front of a live audience. Five VIP judges -- Scott Dupcak, Carolyn Kissane, Jiong Ma, Nick Querques, and Tibor Toth -- selected the four Northeast regional winners each of whom won $10,000 in cash, plus additional in-kind offerings. Regional Finalists Regional Winners
  9. 9. Cleantech Open Northeast | 2019 Impact Report 2019 Global Forum Aeroshield of Massachusetts won the National Grand Prize. Flux Marine of Rhode Island won National Runner-Up, the People’s Choice Award, and Best in Showcase. Tim Hoffman, the NY Metro Director, won National Volunteer of the Year. The three-day event on November 10, 11, and 12, 2019 had 16 Regional Finalists from across the country competing for the Grand Prize. The 6 Northeast Regional Finalists, Aeroshield, Flux Marine, Quatcare, Teratonix, Enersion, and Feedback Solutions, participated and pitched privately to panels of expert judges. 15 Northeast startups participated in the Expo and Investor Connect. National Winners
  10. 10. STARTUPS Cleantech Open Northeast | 2019 Impact Report
  11. 11. Cleantech Open Northeast | 2019 Impact Report Technology Breakdown of 2019 Cohort
  12. 12. Cleantech Open Northeast | 2019 Impact Report Geographic Breakdown of 2019 Cohort New York 5 Pennsylvania 2 Massachusetts 13 Rhode Island 4 Connecticut 1 New Jersey 2 Canada 8
  13. 13. Cleantech Open Northeast | 2019 Impact Report National Winner: Aeroshield has developed a highly transparent, super-insulating silica aerogel. The nanoporous glass is composed of 95% air. By placing Aeroshield between two panes of glass, performance is now competitive with triple-pane windows at the cost and installation ease of a double-pane. This makes for a window 50% more energy efficient than 80% of windows installed in today’s homes. “During the Cleantech Open Cohort, we have had the privilege of joining a supportive community focused on helping us improve the world. Through the ups and downs of the last few months the management team, mentors and entrepreneurs have brought together resources and enthusiasm to help us make our ideas into a reality. The work we have accomplished and the connections we have made will be a part of our team and our personal journeys for many, many years to come!” - Elise Strobach, CEO & Founder of AeroShield
  14. 14. Cleantech Open Northeast | 2019 Impact Report National Runner-Up: Flux Marine has set out to design, manufacture, and market electric outboard marine motors to the boating industry. The motors hold several advantages over gasoline counterparts; decreased maintenance costs, increased reliability, and minimized pollution. Flux Marine’s electric outboards are designed to minimize failure points and utilize long-life solid state components, making them extremely reliable and virtually maintenance-free. The electric outboard motors do not leave a footprint on the environment and have the potential to reduce overall recreational outboard CO2 pollution levels by 240 million pounds annually with a 1% market capture.
  15. 15. Cleantech Open Northeast | 2019 Impact Report Regional Winner: QUATCARE is striving to solve global industrial water microbial contamination. Today, this problem is addressed by using expensive chemicals that cause bacteria to develop resistance and mutate. QUATCARE’s approach is more sustainable, eco-friendly and does not create microbial mutations- all at a low cost while allowing water waste to be better recycled and reused while controlling the spread of microbes, further reducing the impact on the environment. QUATCARE embeds a mix of quaternary ammonium compounds permanently into the surface of a product, allowing the surface to have continuous antimicrobial activity against a broad spectrum of pathogens. “This has been an invaluable learning experience… One of the best business education programs that I’ve ever been in!” - Mario Mercado, Quatcare
  16. 16. Cleantech Open Northeast | 2019 Impact Report Regional Winner: Currently, IoT sensors and active medical devices are mainly powered by batteries and there is no commercially available remote powering solution for either. Teratonix is aiming to address the limited lifespan of a battery, which leads to high battery replacement/maintenance cost and huge amount of battery waste. Teratonix has developed an ultrahigh-speed Metal-semiconductor- metal (MSM) heterojunction diode. This diode’s speed is 100 - 1000x times faster than other known diodes, and has zero-bias cutoff frequencey > 100 GHz, making it the only known technology capable of rectifying broadband radio signals into DC power. “With the help from dedicated CTONE team and mentors (assigned and others I met through the CTO program) with objective/different perspectives, we now have a clearer view on our business and thus a more articulated message to potential investors/partners.” - Johnny Huang, Teratonix
  17. 17. Cleantech Open Northeast | 2019 Impact Report Regional Finalist: Enersion Incorporation has invented a green cooling solution that saves up to 70% on electricity by utilizing unused waste/heat, without using any harmful refrigerants. Enersion’s chiller uses any thermal energy - such as solar energy or low-grade waste heat (an existing by-product of operations) to produce cooling power. It also can be paired with a CHP (Combined Heat and Power) unit to offer cooling, heating and electricity as one integrated solution. “Cleantech Open is an enthusiastic and well-networked group of people who go above and beyond to help their companies to grow!” - Hanif Montazeri, Enersion
  18. 18. Cleantech Open Northeast | 2019 Impact Report Regional Finalist: Feedback Solutions technology utilizes raw data produced by people-counting and tracking sensors to apply their algorithm via an Intel Gateway, resulting in 95+% accurate, real-time occupant counts that are communicated via BACnet/IP to the Building Automation System (BAS) optimizing ventilation rates to reduce energy consumption and GHG emissions. This technology has the ability to normalize the raw data received for in and out counts across multiple access points for a zone or zones to provide accurate, real-time occupant data that is reliable enough to be used by the BAS to optimize the ventilation rates in the space. This technology has proven to be capable of reducing HVAC-related energy consumption by 30%, or greater, in numerous environments. “Regardless of the final outcome, we feel like have already won. We have made some incredibly important connections and have met many key contacts. Our traction in the US market has been accelerated as a direct result of our participation in the CTO.” - Karen Smith, Feedback Solutions
  19. 19. Cleantech Open Northeast | 2019 Impact Report Company Development Program (CDP) The Cleantech Open Company Development Program provides development support for a limited number of very early stage companies. CDP companies can take advantage of workshops and clinics while they work with their mentor. Companies that participate in the CDP program are eligible to apply to participate in the full CTONE accelerator in a succeeding year. 3 CDP Participants “I want to thank you and the rest of the crew for all your help and support through this process. We learned a lot and definitely advanced our company by leaps and bounds.” - Robert Monteith, Advance Renewable Concept (CDP team) “Thank you again. Cleantech Open is a special gift.” - Donna Childs, Prisere (CDP team)
  20. 20. ENTREPRENEUR SATISFACTION Cleantech Open Northeast | 2019 Impact Report
  21. 21. Cleantech Open Northeast | 2019 Impact Report Alumni Engagement 422Total Cleantech Open Northeast Alumni Alumni in the 2019 News 145+ Alumni referenced in 2019 social media 22 Alumni who took on a new active CTO role for the 2019 accelerator 70+
  22. 22. Aclarity (2018) Over $1M Raised Massachusetts Cleantech Open Northeast | 2019 Impact Report Alumni Highlights in 2019 Pika Energy (2012) Acquired by GeneracⓇ Maine Radical Plastics (2018) $500K Awarded 76 West Winner Massachusetts ThinkLite (2011) $30M in annual revenue Massachusetts EnviroPower (2014) $5.5M Series A Connecticut Capro-X (2018) $250K Awarded Won GrowNY New York Heat Inverse (2018) $225K Awarded SBIR by NSF New York
  23. 23. Cleantech Open Northeast | 2019 Impact Report Alumni Highlights in 2019 Anax Power (2019) Contracted $3M term sheet during 2019 accelerator New York AeroShield (2019) IN2 Winner Massachusetts Tank Utility (2015) $6M Raised Massachusetts Optimus Technologies (2017) $1M Awarded 76 West Grand Prize Pennsylvania Techstyle Materials (2018) IN2 Winner Rhode Island Aquaneers (2019) $1.3M Raised New York Power HV (2019) CDN 490K Awarded Canada
  24. 24. Cleantech Open Northeast | 2019 Impact Report 2019 Cohort in the News
  25. 25. Cleantech Open Northeast | 2019 Impact Report In the News (cont.)
  26. 26. COMMUNITY Cleantech Open Northeast | 2019 Impact Report
  27. 27. Cleantech Open Northeast | 2019 Impact Report Mentor Program 144 Mentors matched to a team this year 97 315+ Active volunteers Mentors returning from the previous year “We now know what to do! The Cleantech Open is fantastic. We feel really fortunate to have learned what we have. Our mentors have been great!” -- Karen Smith, Feedback Solutions “It’s an honor and privilege to be a small part of the Cleantech Open Northeast. Thank you and your team for all that you do.” - Ladd Greeno, Mentor
  28. 28. Cleantech Open Northeast | 2019 Impact Report 2019 National Volunteer of the Year & 2019 Lifetime Service Award Tim has been dedicating his time and expertise year after year as Cleantech Open New York Metro Director. In this role, he has leveraged his professional contact database to line up experts and investors at events as well as to identify and secure event hosts and sponsors. He has attended events around the state of New York to recruit startups, mentors, and volunteers. He runs five Business Clinics in New York City each year, and gets rave reviews. Thank you Tim, we couldn't do all of this without you! NY Metro Director TIM HOFFMAN Tim & Rob adjust like everything was already planned for. Tim's presentation to the Mock Judges was fresh, informative and good humored whether you were a new judge or a seasoned one.” - Lindsay Drogin, Deputy NY Metro Director
  29. 29. Cleantech Open Northeast | 2019 Impact Report 2019 Volunteer of the Year “Within my Mock Judging group, the teams showed much improvement from earlier stages. The judges were firm, critical and chock full of pertinent questions and comments. The interplay between the companies and the judges was also filled with intelligence, good will and mutual respect. Another great CTO event in NYC. I am proud and inspired to be among such people.” - Lindsay Drogin NY Metro Deputy Director LINDSAY DROGIN In 2019, Lindsay became NY Metro Deputy Director to support New York programming, while continuing to offer her time and expertise as a Lead Mentor to Apis Innovation and Mock Judge to others. Lindsay has been a CTO mentor since 2017, offering her experience in investment banking and business development to cleantech startups.
  30. 30. Cleantech Open Northeast | 2019 Impact Report 2019 Lead Mentor of the Year “CTO provides a fabulous service to cleantech entrepreneurs. Plus, I have found the mentoring experience both personally rewarding and a great way to improve my skills as a leader. I highly recommend the experience to entrepreneurs and mentors alike.” - John Ireland Mentor for Sky Canoe JOHN IRELAND “I can't tell you how thankful we are of Cleantech Open's support and amazing module training and mentor support. We are learning so much.” - Jason Dudek, Sky Canoe John has been a Cleantech Open Mentor for 7 years --as a General Mentor, a Sustainability Mentor, and as a Lead Mentor.
  31. 31. Cleantech Open Northeast | 2019 Impact Report 2019 Lead Mentor of the Year “It’s been my pleasure to participate. It’s been very valuable for me to engage and learn from the budding entrepreneurs that CTO attracts.” - Vikram Aggarwal Mentor for Íko Systems “Vikram has been an invaluable resource. He is also a founder of a startup and is genuinely interested in our success… Vikram has dived into the trenches of our business with us and helped us think through tough problems and come up with creative solutions. I truly think Vikram should be nominated for Mentor of the Year.” - Ben Sword, Íko Systems VIKRAM AGGARWAL Vikram is a Cleantech Open alumnus with his company EnergySage, now the most visited solar website in the US. Vikram has been giving back to as an ambassador (speaking at events and consulting with prospective startups), a Mentor for several companies, a Judge, and a Recruiter for other Mentors. Vikram sets an incredible example. In 2019 Vikram mentored Iko (pronounced "ECO") Systems.
  32. 32. Cleantech Open Northeast | 2019 Impact Report 2019 Generalist Mentor of the Year Mentor for CF Technologies, Inc. “Scott was a huge strength in the technical aspects, including sustainability, chemistry, TRLs, MRLs, lean manufacturing and past experiences. He reviewed all of the documents, was on all of the calls, made it to all of the clinics and mock judging. He has been a really great mentor and friend. I would rate his involvement and dedication highly. He has a good eye for innovative trends and existing technology. As a PhD chemist, he was helpful with technology research and improvements to our sustainable practice as well. If there is an award for top first time mentor, I would 150% award it to Scott.” - Jessica Sweeney, CF Technologies SCOTT TWIDDY In his first year as a CTONE mentor, Scott Twiddy was recognized as 2019 Generalist Mentor of the Year. Scott is a senior research scientist with expertise in organic synthesis, polymer formulation, data analysis and interpretation, and anti-counterfeiting strategy.
  33. 33. Cleantech Open Northeast | 2019 Impact Report 2019 Generalist Mentor of the Year Mentor for Soilless “Cleantech Open is the best kept secret. Entrepreneurs learn, grow and solve problems to create a better world. They’re doing hard work, solving important problems. The accelerator is a rigorous learning experience that’s also fun. These teams deserve our best efforts.” - Sam Nejame SAM NEJAME “Sam is an amazing mentor and an extremely kind person. He always tells you what is on his mind and always tries his best to help lead you on the right path. We are really grateful to have had Sam as one of our mentors!” - Westen Johnson, Soilless Sam Nejame has mentored with CTONE since 2018, in which he was a mentor for the 2018 National Winner, Radical Plastics. He has 30 years of experience helping scientists and engineers commercialize disruptive technology with environmental impact.
  34. 34. Cleantech Open Northeast | 2019 Impact Report 2019 Sustainability Mentor of the Year “Thank you for letting me participate. It was great for me as well.” - Bob Morton Mentor for FluidSense - EcoBilge Bob was a first-time Cleantech Open Mentor in 2019. He was enthusiastic and engaged throughout the program. He attended and actively participated in events such as the Go-to-Market clinic, where he added value beyond his role as Sustainability Mentor. Bob’s sustainability expertise includes photovoltaic systems, heat pumps, battery storage, electric vehicle charging stations and renewable energy generation. BOB MORTON
  35. 35. SUPPORTERS Cleantech Open Northeast | 2019 Impact Report
  36. 36. National Sponsors Cleantech Open Northeast | 2019 Impact Report
  37. 37. Regional Premier Sponsor MassCEC Cleantech Open Northeast | 2019 Impact Report “As Massachusetts and states across the Northeast work hard to build a clean energy future, reduce greenhouse gas emissions, and mitigate the impacts of climate change, it is imperative that we support the startup community, which is pursuing innovative solutions to our greatest energy challenges. As a longtime sponsor of Cleantech Open, MassCEC looks forward to building on the progress we’ve made over the last decade and continuing our shared mission to address critical funding gaps, barriers to commercialization, and expanding the clean energy sector across the region.” - Stephen Pike, CEO, Massachusetts Clean Energy Center
  38. 38. Regional Premier Sponsor NYSERDA Cleantech Open Northeast | 2019 Impact Report “The innovative technologies being developed by Cleantech Open Northeast-supported companies will play a vital role in New York’s efforts to combat climate change and reduce harmful greenhouse gas emissions, making NYSERDA extremely proud to sponsor this program. As more states and countries develop clean energy goals such as those presented under Governor Cuomo’s nation-leading Green New Deal, we will need a growing number of emerging companies to bring their revolutionary ideas to the marketplace in support of the global momentum of creating a more resilient energy system for future generations.” -- Alicia Barton, President and CEO, NYSERDA
  39. 39. Northeast Regional Affiliate NECEC NECEC leads the Cleantech Open accelerator and business plan competition in the Northeast. Cleantech Open Northeast | 2019 Impact Report “NECEC combines the Northeast Clean Energy Council and NECEC Institute, two sister nonprofits focused on growing the clean energy industry and cleantech innovation ecosystem across the US Northeast. We're excited to be the affiliate organization running the Cleantech Open here in the Northeast for many years. 2019 was a great year for Cleantech Open in our region, with breadth of applicants, depth of mentors, volunteers, investors and supporters, and great quality of entrepreneurial teams taking advantage of the accelerator to add rigor and market testing to their cleantech startups. We're proud of regional finalists, many of whom were also winners at the Global Forum. Congratulations to all of theese teams and to Beth and Tricia who lead our Cleantech Open Northeast team and continue to grow the ecosystem connections that are helping these startups start their innovation journeys.” - Peter Rothstein, President, NECEC
  40. 40. Regional Silver Sponsors Cleantech Open Northeast | 2019 Impact Report
  41. 41. Cleantech Open Northeast | 2019 Impact Report Regional Bronze Sponsors Cleantech Open Northeast | 2019 Impact Report
  42. 42. Contributor & Northeast Network Sponsor Cleantech Open Northeast | 2019 Impact Report
  43. 43. In-Kind Sponsors Cleantech Open Northeast | 2019 Impact Report
  44. 44. 2019 Major Event Hosts and Sponsors Cleantech Open Northeast | 2019 Impact Report
  45. 45. Cleantech Open Northeast | 2019 Impact Report 2019 CTONE Interns Annie Patyk Lauren Skirball Olivia Polos Julia Dayan Kaitlin Hollinger Thank you to our remarkable interns that contributed to the success of the 2019 CTONE program.
  46. 46. Cleantech Open Northeast | 2019 Impact Report Cleantech Open Northeast STAFF Beth Zonis Regional Director Tricia Dinkel Program Manager
  47. 47. Cleantech Open Northeast | 2019 Impact Report