The New York State Energy Research and Development Authority (NYSERDA) has announced that the state is seeking proposals from organizations to operate a new statewide cleantech accelerator to help bring “cutting-edge innovative technologies” to the energy marketplace. Up to $10 million is available to launch an accelerator that supports Gov. Andrew Cuomo’s goals for reducing […]
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The New York State Energy Research and Development Authority (NYSERDA) has announced that the state is seeking proposals from organizations to operate a new statewide cleantech accelerator to help bring “cutting-edge innovative technologies” to the energy marketplace.
Up to $10 million is available to launch an accelerator that supports Gov. Andrew Cuomo’s goals for reducing greenhouse-gas emissions and increasing clean energy by “fast-tracking” clean-energy concepts to commercialization, according to a NYSERDA news release.
The authority says money is available to start and manage a cleantech accelerator located in the state that will make early-stage investments and provide supporting services for “developing and validating promising clean-energy technologies that could become the platform for startup companies.” The accelerator seeks to bring together researchers, entrepreneurs, investors, and industry experts to provide programs, including mentoring through various stages of product development.
NYSERDA currently administers two cleantech accelerators (also known as Proof-of-Concept Centers) — PowerBridgeNY in New York City and NEXUS-NY in Rochester — both rolled out in 2012. PowerBridgeNY works with teams of entrepreneurs and researchers affiliated with partner academic institutions, including Columbia University, New York University, Stony Brook University, Cornell Tech, and the City University of New York. NEXUS-NY clients do not have to be affiliated with specific academic institutions and can be located anywhere in the state. The current funding opportunity is open to both academic and non-academic institutions, the release stated.
As of the end of 2017, PowerBridgeNY and NEXUS-NY have assisted 90 teams that have gone on to raise a combined $19 million in private investment, $11 million of non-NYSERDA grant funding, and generated $258,000 in revenue, according to NYSERDA.
In addition to the cleantech accelerators, NYSERDA supports six clean-energy incubators that offer commercialization resources, technical assistance, and business-development support to early-stage companies; an Entrepreneurs-In-Residence program to provide executive mentoring assistance; a Manufacturing Corps program to support businesses with manufacturing development; the 76West Clean Energy Competition; and a cleantech executive leadership institute for professionals.
NYSERDA says innovative technologies that have been developed or commercialized by current incubator clients and graduates include LED lighting systems for sports stadiums and entertainment venues, smart outlets for home appliances, longer-lasting batteries for cell phones and electric vehicles, more efficient heating-and-cooling systems, and ride-sharing applications that make it easier and more cost effective to hail taxis in New York City.
Accelerator funding is available through the State’s 10-year, $5.3 billion Clean Energy Fund. More information about this funding is available on NYSERDA’s website.