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2017 Cleantech Open Northeast Impact Report


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Cleantech Open is a global accelerator program that aims to help early-stage cleantech startups grow their business with mentorship, training, visibility, and access to capital. The Northeast region has headquarters in Boston, MA at NECEC Institute. Check out the 2017 Impact Report to learn more about how the accelerator works with the northeast cleantech ecosystem.

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2017 Cleantech Open Northeast Impact Report

  1. 1. Cleantech Open Northeast 2017 Impact Report
  2. 2. Letter from the Director 2 Beth Zonis, Tim Hoffman, Gina Bellato, and Rob Parker Over the last year, Cleantech Open reached new milestones, met new challenges and created new opportunities. Here in the Northeast, we graduated 26 aspiring cleantech startups, bringing us to a total of 360 Cleantech Open alumni in the Northeast, where our cleantech ecosystem continues to flourish. I was honored to take the helm as Northeast Regional Director of Cleantech Open last fall after being a Cleantech Open mentor for the past nine years, and most recently working at MIT to set up a center of entrepreneurship and innovation in Moscow, and running an MIT Media Lab program fostering innovation to solve pressing challenges in India. Our successful 2017 program was due in large part to Program Manager Gina Bellato, who along with key volunteer chairs in the Northeast did an amazing job keeping things running and supporting the Cleantech Open companies. I was excited to begin my role last October at the Regional Finals where I met our 2017 cohort and was able to experience the full scope of the Cleantech Open machine in action! Our passionate sponsors, and our dedicated community of volunteers, mentors and judges are essential to this program’s success. All of the 2017 Cleantech Open Northeast alumni, and especially the four winners -- change:WATER Labs, CoolComposites, Joro and P2S Technologies -- demonstrated how much of a difference the Cleantech Open accelerator can make for startups. They all grew personally and professionally, and we are proud that two of our winners (change:WATER Labs and CoolComposites) were recognized as national category winners. They came with great ideas, worked hard, strengthened their business models, expanded their networks, and gained recognition. We expect them to achieve great success. At the national level, Cleantech Open officially became part of the Los Angeles Cleantech Incubator (LACI) in 2017. This strengthens the Cleantech Open overall, and the site serves as a welcoming hub for cleantech startups on the West Coast. As we look toward the 2018 accelerator season, we aim to recruit the best and most diverse teams, continue to bring in new volunteers, secure new sponsors, and keep the program running smoothly. We are also exploring ways to increase alumni engagement and awareness of Cleantech Open overall. I welcome and appreciate your interest, involvement and suggestions. Looking forward to a productive 2018 together! Beth E. Zonis Northeast Regional Director Cleantech Open NECEC leads the Cleantech Open accelerator and business plan competition in the Northeast. Cleantech Open Northeast l 2017 Impact Report
  3. 3. PROGRAM 3 Cleantech Open Northeast l 2017 Impact Report
  4. 4. In cash prizes awarded Expert judges Northeast graduates $40,000 60 26 4 2017 Accelerator at a Glance Mentors matched per team 4 Cleantech Open Northeast l 2017 Impact Report
  5. 5. June – September • East Coast Academy is held at the Boston Federal Reserve Bank with 46 companies from around the US • The Northeast region hosts 9 summer business clinics in New York City and Boston Year in Review 5 February – April • Applications open for 2017 accelerator • Northeast region hosts recruiting events: in Boston, New York City, and Portland, where 16 startups gave 1-minute pitches • Cleantech Open alumni speak about their accelerator experience at kickoffs May • The Northeast region receives 77 applicants, admits 31 participants to the accelerator, and four to Company Development Program • Companies and mentors take part in mentor mixers resulting in 108 pairings October • Regional Finals held at New York University School of Law • 26 Northeast graduates participate in an Investor Connect, Public Showcase, Private Judging, and Public Pitching • VIP judges select four winners: change:WATER Labs, CoolComposites, Joro, and P2S Technologies • $10,000 in cash prizes plus additional in-kind services awarded to each winner January 2018 • Five members of the 2017 Northeast Cleantech Open cohort travel to the Cleantech Open Global Forum held at the Los Angeles Cleantech Incubator (LACI) • Companies participate in Investor Connect, Public Showcase, Innovation Tours, and Final Judging • The Northeast wins two category awards – change:WATER Labs and CoolComposites November – December • Beth Zonis (a longtime Cleantech Open mentor) joins as Northeast Regional Director • Regional winners prepare for Global Forum with help from mentors and in-kind sponsors • 13 accelerator alumni showcase at Greenbuild Expo in Boston • Cleantech Open celebrates volunteers at Mentor Appreciation nights in Boston and NYC Cleantech Open Northeast l 2017 Impact Report
  6. 6. Events in Numbers 20 1801 Total attendeesEvents in Boston and NYC 6 98% Of attendees want to attend future events Cleantech Open Northeast l 2017 Impact Report
  7. 7. Northeast Regional Finals The two-day event held at NYU Law on October 5th and 6th brought together more than 200 attendees to celebrate the graduation of the 2017 Cleantech Open cohort in the Northeast. The 2017 cohort took part in an Investor Connect where each company had six 1-on-1 meetings with local investors from private investment firms, corporates, and government entities. A public showcase followed, highlighting the 2017 cohort. On the second day, 60 judges reviewed private investor pitches from companies. Judges selected the top eight companies to give public pitches in front of a live audience. Our VIP judges (Jiong Ma, Ed, Margarett Jolly, Stephen, Mathew Sachs, June Choi, and Michael Shimazu) chose four Northeast regional winners to each receive $10,000 in cash prizes, plus additional in-kind services and the opportunity to pitch at the Cleantech Open Global Forum. The 2017 Northeast regional winners selected were change:WATER Labs, CoolComposites, Joro, and P2S Technologies. 7 Top 8 Regional Winners Cleantech Open Northeast l 2017 Impact Report
  8. 8. 8 Global Forum National Track Winners The three-day event was held at the Los Angeles Cleantech Incubator and the Los Angeles Downtown Hotel from January 28- 30th. On the first day, winners from each region presented their pitches to a panel of judges. Each panel then selected a category winner to move onto a final pitching event in front of VIP judges. The Northeast region took home two category winners; change:WATER Labs for Agriculture, Water and Waste, and CoolComposites for Advanced Materials. On the second day, more than 60 companies took part in an Investor Connect and Public Showcase. On day three, attendees visited local innovative organizations and facilities before attending the Global Forum Awards Ceremony. Cleantech Open selected Inovues of the South Central region as the 2017 National Winner. Regional Winners Cleantech Open Northeast l 2017 Impact Report
  9. 9. 9 “We participated in the 2017 Company Development Program (CDP). CDP excels in people. Everyone from the regional office to your local mentor is available to help you reach your next milestone. The 10 online modules are nicely arranged and include an abundance of resources! If you're a cleantech company looking to improve your business model, this is the right place.” - Donna Sanders Co-Founder & CEO, Social Solar (CDP 2017) Company Development Program (CDP) 4 CDP Participants CDP is designed for early stage cleantech startups that are not yet prepared for the in- depth and comprehensive commitment of the full Cleantech Open accelerator. The program offers a dedicated match to one Cleantech Open mentor for the duration of the accelerator and discounted access to exclusive accelerator events. CDP participants can fully engage with Cleantech Open curriculum and events but are not eligible to compete in Regional Finals. Cleantech Open Northeast l 2017 Impact Report
  10. 10. 10 STARTUPS Cleantech Open Northeast l 2017 Impact Report
  11. 11. Technology Breakdown of 2017 Cohort 11 Information & Communication Technologies Agriculture, Water & Waste Chemicals & Advanced Materials Energy Distribution & Storage Cleantech Open Northeast l 2017 Impact Report
  12. 12. 2017 Regional Winner & Crowd Favorite 2017 National Category Winner: Agriculture, Water, and Waste 12 change:WATER Labs is developing a toilet that can be deployed to every vulnerable household. We are developing a revolutionary evaporative ("self- flushing") toilet—a low-cost, compact, off-grid, portable solution that decouples household toilet access from sewerage infrastructure. Our evaporative toilet rapidly shrinks onsite sewage accumulations down to 5-10% of produced daily volumes. Sewage is 85-99% water. By cheaply, quickly eliminating that water, we eliminate 90% of the sewage problem. “Our team of mentors brought such an incredible level of commitment that it compelled us to step up our game and be just as committed! Our mentors pushed us to develop a much stronger go-to-market strategy, sustainability plan, and financial projections. They helped us make valuable connections that will benefit us as we head into manufacturing and market launch. We are so grateful for having participated in Cleantech Open Northeast, and now being part of this empowering ecosystem!” -Diana Yousef Founder and CEO change:WATER Labs Cleantech Open Northeast l 2017 Impact Report
  13. 13. 13 We are improving the thermal performance of buildings with an additive called CoolFlux. By storing energy when heated and releasing that energy when cooled, CoolFlux automatically lowers the use of air conditioning by 50%. Competing products require substantial building modifications, are very expensive, or both. Our additive doesn’t change the look, feel or installation of materials that architects and contractors are already using, and is priced for a payback period of under five years. “At CoolComposites, we had an amazing team of mentors that really helped us better articulate our business and set us up for our next steps. They drilled down to the the core of what we are doing and made us grapple with the ways we are creating value for customers. Thank you to the CTO team for making this possible!” - Alan Ransil Co-founder, CoolComposites 2017 Regional Winner 2017 National Category Winner: Advanced Materials CoolComposites Cleantech Open Northeast l 2017 Impact Report
  14. 14. 2017 Regional Winner 14 Joro provides real-time, automated, holistic carbon emissions tracking and tailored feedback to help citizens make energy-saving choices about everyday activities and purchases. The Joro platform enables users to compete and engage with friends and family, in order to earn rewards for environmentally conscious consumption, to save money, and to reduce their overall carbon footprints. “CTO provided the structure, guidance, and community to help our team focus and accelerate progress. The Northeast Regional team in particular has been an incredible resource for us getting started in the Boston area. We’re looking forward to continuing to be a part of the community!” – Sanchali Pal Co-Founder and CEO, Joro Joro Cleantech Open Northeast l 2017 Impact Report
  15. 15. 2017 Regional Winner 15 We are building the first comprehensive and user- friendly, system for corrosion monitoring and detection in pipelines, integrating both hardware and software components. These hardware devices attach to existing wires inside each test point. When a survey device using Lync Reader software is in range, the hardware device broadcasts the calculated AC/DC output values to the reader. Those survey devices then use their internet connection to send the data to our servers. The cathodic protection data is captured and stored in digital form, making it very accessible for reporting and analysis. “Our mentors were there for us and always made themselves available when hard decisions needed making, or when we needed some schooling on a topic we didn’t know enough about. CTO provided us with amazing resources and seminars that young CEOs can find very useful as they begin to understand the intricacies of setting up and scaling a business. They also connected us with experts, Corporate investors, VCs, and Angel investors, without asking for anything in return other than our drive and commitment.” -Sean Weiss CEO, P2S Technologies P2S Technologies Cleantech Open Northeast l 2017 Impact Report
  16. 16. 16 Alumni Impact 360 graduated startups in the Northeast Cleantech Open Northeast l 2017 Impact Report
  17. 17. 98% Participant Satisfaction of participants continue to say they’d recommend the Cleantech Open Northeast accelerator to another startup 17 Cleantech Open Northeast l 2017 Impact Report
  18. 18. 18 COMMUNITY Cleantech Open Northeast l 2017 Impact Report
  19. 19. Mentor Program at a Glance 19 200 + Active volunteersMentors would recommend the program 56%100% Mentors met with their teams at least once a week Cleantech Open Northeast l 2017 Impact Report
  20. 20. 20 Paul Barrett 2017 Distinguished Service Award COO, NavResearch Corporation “The most rewarding aspect of the program is that every year I get to engage with a new set of mentors and teams who are advancing their individual aspirations, with each interaction serving as a personal learning experience. Witnessing the spark of understanding from these entrepreneurs as they learn to build a sustainable business around their ideas with the help of our mentoring teams never gets old.” – Paul Barrett Cleantech Open Northeast l 2017 Impact Report
  21. 21. 21 Manoj Rengarajan 2017 Volunteer of the Year VP Investment Management, Prudential Financial “Very inspiring and fortunate to be part of a passionate, deeply experienced, and diverse volunteer community which strives to make a positive impact on the environment year after year.” – Manoj Rengarajan Cleantech Open Northeast l 2017 Impact Report
  22. 22. 22 Allexe Law 2017 Mentors of the Year Murray Froikin Founder, Art Science GroupCOO and Managing Principal, Starlight Investments, LLC “I really enjoyed the experience as a CTO Mentor last year. I found the teams were well screened for readiness to collaborate with their mentors, and hone their plans. Working with and learning from other great mentors was also rewarding. Our team, POEM Technologies, evolved rapidly in honing their sales strategy and embracing financial modeling as a critical part of their planning. The efforts is now resulting in sales and investment funding.” – Murray Froikin "Whether it is mentoring an entrepreneur, conducting a workshop, or providing your expertise on a specific issue, there are many opportunities to participate in the Clean Tech Open community. Being part of a community of entrepreneurs who are passionate about their quest to solve a problem and a group of skilled mentors providing their time and expertise to help these entrepreneurs succeed is an extremely rewarding experience that I look forward to each year.” – Allexe Law Cleantech Open Northeast l 2017 Impact Report
  23. 23. Featured Volunteer 23 Cayman Somerville Recruitment and Wet Lab Project Manager, Greentown Labs "CTO is a tremendous program that meets the pressing need for mentorship and business plan support focused on early stage cleantech startups. The staff at CTO recognize that it takes a village to launch a company in this space. Volunteering for CTONE has been a phenomenal way to connect with and support startups working to solve the world's greatest energy and environmental issues (prior to being ready for incubation at a place like Greentown Labs)." – Cayman Somerville Cleantech Open Northeast l 2017 Impact Report
  24. 24. 24 PARTNERS & SPONSORS Cleantech Open Northeast l 2017 Impact Report
  25. 25. Our 2017 Partners 25 Cleantech Open Northeast l 2017 Impact Report
  26. 26. Northeast Regional Affiliate 26 “NECEC is proud to be the lead organization running the world-class Cleantech Open accelerator in the Northeast. Together, we work to help the most promising cleantech startups in the Northeast ecosystem accelerate their businesses to bring the most viable clean technologies to market, while spurring entrepreneurship and economic growth across the region.” - Peter Rothstein, President, NECEC Cleantech Open Northeast l 2017 Impact Report
  27. 27. Premier Sponsors 27 MassCECNYSERDA “NYSERDA is proud to sponsor Cleantech Open Northeast which provides vital resources to support the expansion of the clean energy industry in New York and throughout the Northeast. I want to congratulate this year’s Global Forum winners and I look forward to New York’s graduates becoming part of our vibrant clean energy ecosystem that is thriving under Governor Cuomo.” - Alicia Barton, President and CEO, NYSERDA “Cleantech Open Northeast is an invaluable partner in our shared mission to support cleantech companies. MassCEC is proud to work with CTONE to foster the growth of the cleantech sector, which is creating jobs and pursuing solutions to energy challenges across the region.” - Stephen Pike, CEO, Massachusetts Clean Energy Center Cleantech Open Northeast l 2017 Impact Report
  28. 28. Our 2017 Sponsors 28 Cleantech Open Northeast l 2017 Impact Report
  29. 29. 29 Thank you to our Photographers Gina Bellato – • Tell Your Story Day (Page 19), • Greenbuild Expo (Page 10, 17) , • Investor Connect (Page 5, 9), • Global Forum (Page 8) Tamara Kohno – • Boston Kickoff (Page 6, 18) Jonathan Lantz – • NYC Kickoff (Page 2, 21), • Regional Finals Public Pitching (Pages 4,7,12-15,18, 20 ,22,24) Bill McCormack – • East Coast Academy(Page 3), • Green Tie Gala (Page 26) Laura Rudich – • Cleantech Open Global Forum (Page 1) Cleantech Open Northeast l 2017 Impact Report