Cleantech Open, North Central Region
What It Is: A business-plan competition that awards winners with training, mentoring, investments, and professional services
Founded: 2010
Founders: Justin Kaster, investment banker, Cherry Tree Companies; Peter Ekberg and Andy Ritten, attorneys, Faegre & Benson; Dick Franklin, CEO, Envirobrand
Motivation: Especially in an emerging industry like clean tech, “there is a need for support for early-stage companies, to get that exposure and support beyond what already exists,” Kaster says.
How It’s Supporting Innovation: Cleantech Open is a national program whose participants between 2006 and 2008 have raised more than $280 million in external capital. The North Central regional competition covers Minnesota and six other states. Because regional winners compete nationally, the competition is a chance to tap into a broader network of potential partners and investors. The national organization’s goal is to help create 100,000 clean and green jobs by 2015.
Web Site: cleantechopen.com; local contact, nc_info@cleantechopen.com
