Deadline: 23-Jun-23
Are you an innovative cleantech startup, eager to create solutions in clean energy, zero emissions transportation, or sustainable cities that would benefit from hands-on support through market access, business services, introductions to funders, investors and powerful partners? Then the LACI’s two-year, Incubation program is right for you!
LACI is accelerating climate action through their Innovators and Incubation startup programs.
LACI helps startups develop their technologies, secure funding and financing, access new customers and markets, test and pilot their solutions, and unlock their full potential. Their startups go further, faster, together with LACI! Each of their programs will accept and fund 15-20 companies that best align with the program criteria, their mission, and the needs of the communities they serve.
The LACI Incubation program offers hands-on incubation services for cleantech startups to grow in Los Angeles. The first four months of the program are dedicated to intensive curriculum workshops, one-on-one coaching sessions, and roundtables on go-to-market, investor readiness, and pilots. After the initial curriculum, the program is focused on achieving objectives outlined in a custom business roadmap of fundraising, product development, market access, team growth, pilot deployment, and partnerships.
Benefits
- A 45-hour advanced curriculum based on LACI’s decade-plus experience across hundreds of cleantech startups. Study impact-focused business road mapping, building your team with inclusivity, customer acquisition, and creating a strong legal foundation for business growth and investment readiness.
- One-hour weekly advisory with a dedicated Executive in Residence, who provides coaching, accountability, and mentorship to define business milestones.
- Qualify for up to $50,000 in funding for a small-scale pilot deployment. Develop pilot strategy, design, and budget, and receive execution feedback.
- Up to $500,000 in equity funding and debt financing through LACI’s Impact Fund and Debt Fund.
- Investment-preparation advisory services from LACI Investments Team, including their Senior Director of Investment Relations who has helped startups raise over half a billion in funding from investors like Energy Impact Partners, Mark Cuban Companies, Blackrock, Trucks VC and others.
- Access to $160,000 worth of perks & platforms to support fundraising efforts (e.g. Pitchbook), grant solicitations, news publications, and product development tools (e.g. SolidWorks, Autodesk).
- Present at annual Power Day pitch and showcase event in front of 200+ attendees and 100+ angel, venture capital, corporate strategic, and family office investors in addition to corporate, public utilities, and various government agencies.
- Opportunities to meet relevant investors and partners through events like monthly LACInvestor Talks.
- 25% to 50% discounts on desk space or private office memberships at the La Kretz Innovation Campus and Advanced Prototyping Center in Downtown Los Angeles.
- Up to $5,000 per year in free business support services from LACI’s vetted suite of startup-friendly service providers, including legal, accounting, grant writing, and creative content.
Eligibility Criteria
- Have a cleantech solution that addresses Clean Energy, Zero Emissions Transportation, or Circular Economy with a focus on Smart & Sustainable Cities.
- Have a significant operations or sales presence in Southern California with founder or key executive able to attend meetings, workshops, and events on campus periodically at least four times in the first six months.
- Commit to all curriculum and mentorship opportunities during the first six months, approximately three to five hour weekly commitment.
- Preferably have two full-time employees and a strategy to grow the team in Southern California.
- Own or hold license to a novel proprietary technology.
- Have a working prototype (TRL 4+).
- Need funding assistance for pilot execution, beyond sole purchase of technology or product.
- Agree to a 1.5-3% equity stake in the form of a warrant with the opportunity to earn back through achieving impact milestones.
- Must be based in the United States.
Evaluations Are Based On
- Technology type, innovation, and credibility.
- 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 Los Angeles.
- Founder and team coachability, experience, and commitment.
- Startup commitment to diversity, equity, and inclusion.
- Overall fit of startup and team within the LACI community.
For more information, visit LACI Incubation Programs.