Deadline: 17-Dec-21
Are you a cleantech startup striving to create solutions in energy, transportation, or smart cities that would benefit from hands-on support through market access, business services, and introductions to funders? If yes, then this 4th Cohort of Los Angeles Cleantech Incubator (LACI) Startup Incubation Program is for you!
The Incubation Program offers hands-on incubation services for supporting cleantech startups’ growth in Southern California. The first six months of the program are dedicated to intensive curriculum workshops, one on one sessions, and roundtables focused on Market and Investor Readiness. After the initial six-month period, the program is focused on achieving the objectives outlined in a custom roadmap around fundraising, product development, market access, team growth, and partnerships.
LACI is committed to advancing the transition of a zero-carbon, secure, and reliable grid to increase regional air quality, create more local jobs, and reduce emissions. The past year revealed community-wide vulnerabilities that have created opportunities in cybersecurity and wildfire resilience, flexible load technologies in collaboration with utilities, and integration of vehicle-to-grid and vehicle-to-building technologies to shorten the time when EVs use the grid.
To build an inclusive green economy, LACI is also looking to support startup-led innovation focused on zero emissions mobility of people and goods. LACI’s Transportation Electrification Partnership (TEP) for example, works together with policymakers, corporate partners, and other private-public collaboration to help achieve the following goals in Los Angeles by the 2028 Olympic and Paralympic Games:
- Accelerate the adoption of electric light duty vehicles to be 30% of all vehicles on the road and 80% of those sold
- Shift at least 20% of all single passenger vehicle trips to zero emissions public and active transportation
- Ensure that 100% of all public investments in goods movement will advance zero emissions solutions
Benefits
- Benefits of the program include:
- Advanced curriculum with a focus on building your team, sales, and creating a strong legal foundation for business growth
- Dedicated advisory services with the Executives in Residence
- Mentorship and eligibility to receive up to $20K in funding for small-scale pilot deployment
- Up to $160,000 in business services and perks
- Eligibility for the LACI Impact Fund and Debt Fund to finance your growth
- Deep discounts on desk space and Advanced Prototyping Center membership at the La Kretz Innovation Campus in Downtown Los Angeles (pending the campus re-opening due to COVID).
- Program length: 2 years
- Program start: April 2022
- Program cost: 1.5-3% equity stake in the form of a warrant with the opportunity to earn back through achieving impact milestones
How does LACI identify leading technologies and startup innovation?
Based on the market activity in 2020/2021, LACI is looking for startups solving problems in Clean Energy, Zero Emissions Mobility, and Sustainable Cities.
Eligibility Criteria
- Startups must:
- Have a cleantech solution that addresses one of the three priority areas: Clean Energy, Zero Emissions Transportation and Smart & Sustainable Cities/Circular Economy.
- Own or license a novel proprietary technology.
- Have a significant presence (operations or sales) in Southern California with founder or key executive able to attend meetings, workshops and events on campus periodically (once COVID is under control and campus re-opens).
- Have at least 2 full-time employees.
- Have a working prototype (TRL 4+).
- Commit to all curriculum and mentorship opportunities during the first 6 months. This is approximately a 4-7 hour weekly commitment.
- They evaluate based on:
- Technology type, credibility and innovation.
- Investability of a startup based on their market, business model, technology, and competitive advantage.
- Environmental and community impact of the solution.
- Potential for the startup to grow their team, operations and sales in the Los Angeles region.
- Founder and team’s coachability, experience, and commitment.
- Startup’s commitment to Diversity, Equity and Inclusion.
- Overall fit of startup and team within the LACI community.
For more information, visit https://laincubator.org/apply-for-laci-startup-incubation-program-cohort-4/