CHICAGO (April 12, 2016) – More than 300 venture capitalists, civic leaders, and industry executives gathered at Evergreen Climate Innovation’s (Evergreen) 6th annual Evergreen Climate Innovations Challenge today, where 14 Midwest cleantech startups competed for a combined $1 million in early stage investment funding. The Evergreen Climate Innovations Challenge, a nationally-acclaimed accelerator program and pitch competition, has served as a launch pad for cleantech startups in the Midwest through direct investment, commercialization assistance, mentorship and access to Evergreen Climate Innovation’s broad partner network. Since 2011,Evergreenhas invested in 29 startups across the Midwest. Evergreen Climate Innovations Challenge companies have gone on to raise an additional $86 million in follow-on funding and have created more than 300 new jobs. The Challenge has jumpstarted more than 80 startups in the Midwest to date, including Detroit’s GreenLancer, and Chicago’s NETenergy and LuminAID. “The group of finalists participating in our accelerator program this year is testament to the advanced level of innovation happening in the cleantech space,” said Erik Birkerts, CEO of Evergreen Climate Innovations. “Midwestern startups are thriving, and Evergreen Climate Innovations is proud to serve as a launch pad for companies that are leveraging science, innovation and technology to create a cleaner and more sustainable energy future.” A panel of industry experts judged the finalists and awarded prize funding to the following companies (background information on the winning teams and prizes can be found at the end of the release):
- SPLT-Pritzker Foundation Award, $100,000
- Nexmatix–Wells Fargo Award, $240,000
- NovoMoto-Power Clean Cities Award, $20,000
- NovoMoto-U.S. DOE Cleantech UP Student Award, $50,000
- Nexmatix-United Airlines and Boeing Sustainable Energy Award, $45,000
- NovoMoto-Hanley Family Foundation Award, $20,000
- Nexmatix-ComEd Female CEO Award, $25,000
- Hazel Technologies-Illinois Clean Energy Fund Award, $500,000