Cleantech Open

Cleantech Open, established in 2005 and headquartered in Palo Alto, California, operates as the world's oldest and largest cleantech accelerator. As a non-profit organization, its primary mission is to identify, mentor, and accelerate early-stage cleantech startups, helping them transform innovative ideas into viable businesses. The organization provides comprehensive support through its accelerator programs, which include intensive training, expert mentorship, and extensive networking opportunities within the cleantech ecosystem.

Unlike traditional venture capital firms, Cleantech Open does not function as a direct equity investor that writes first checks into companies. Instead, its "funding" mechanism primarily involves facilitating connections between its alumni companies and external investors, as well as offering prize money through its annual competitions. For instance, national winners in their program can receive prizes of up to $50,000 in a combination of cash and in-kind services. This model emphasizes business development and investor readiness rather than direct capital deployment from Cleantech Open itself.

The impact of Cleantech Open is significant in fostering the cleantech sector. Since its inception, its alumni network, comprising over 2,000 companies, has collectively raised more than $1.2 billion in external capital from various sources. This demonstrates their effectiveness in preparing startups for external investment. However, as their role is to accelerate and connect, and their direct financial contribution is limited to competition prizes, they are not a source for typical venture capital "check sizes."