Massachusetts and California hardware incubators to encourage bi-coastal collaboration
Somerville, Mass. and Los Angeles, April 22, 2015 – On this Earth Day, the nation’s two largest cleantech incubators have signed a coast-to-coast agreement that provides their member companies with access to new markets, new possibilities and new opportunities to tackle the world’s energy and sustainability challenges.
The partnership between Greentown Labs, the nation’s largest cleantech incubator, which is based in Somerville, Mass., and the Los Angeles Cleantech Incubator (LACI), a public-private organization based in California that aims to help companies deliver market-ready cleantech solutions, brings together two hardware-focused programs with similar goals that operate at opposite ends of the country. It’s this similarity that encouraged the collaboration.
“Our partnership with LACI is the first in a series we will be announcing over the next year,” said Greentown Labs CEO and Executive Director, Emily Reichert. “We see our partnership with LACI as critical to our startup companies, providing connections to new investors in new markets, both nationally and internationally.”
As part of the agreement Greentown Labs will be the first domestic partner in LACI’s international “Landing Pad” program, which is part of LACI’s Network for Global Innovation (NGIN). The Landing Pad is the first dedicated program designed to provide environmentally-focused entrepreneurs access to these markets in a safe, structured and cost-effective manner.
“LACI is very excited to welcome Greentown Labs into the NGIN family,” said Fred Walti, President and CEO of LACI. “They are an outstanding example of an incubator building significant cleantech companies and getting them successfully into the market. Greentown Labs is the first domestic organization to join the Network for Global Innovation and represent NGIN on the East Coast. Emily and her team are perfect partners for helping international companies enter the U.S. via Boston. We’re excited and honored to have them join the rest of NGIN partners in Mexico, Finland, Germany, Italy, China and Japan.”
Landing Pad: Opening New Markets, Networks and Opportunities
The Landing Pad program, which is open to all Greentown Labs member companies, will run for three months at a time and will provide a foundation for market entry and successful market expansion. Services available to companies in the program will include:
- Office space in the host market incubator;
- Mentoring and advisory services;
- Match-making and networking; and
- Showcase opportunities.
As part of the deal both Greentown Labs and LACI will offer desk space to the core operating personnel of the other at their home offices. Greentown Labs operates out of a 33,000 square foot facility in a Somerville business park popularly dubbed “Innovation Row,” while LACI is slated to move into new offices later this year in the Arts District of Downtown Los Angeles, in the heart of LA’s Cleantech Corridor. This is so the two sides can better collaborate on concepts like workshops, building connections with local business ecosystems, promote speakers and encourage best practices among their member companies.
The program will be announced to member companies during the Greentown Labs EnergyBar networking event hosted at the Greentown Labs offices, 28 Dane Street, Somerville, Mass., at 5:30pm on April 22. For more information visit: greentownlabs.com/#events.
About Greentown Labs
Greentown Labs is a community of bold, passionate entrepreneurs creating game-changing energy technologies that transform the way we live, work, and play. Located in Somerville, MA, Greentown Labs is the largest cleantech incubator in the nation, operating a 33,000 sq. ft. facility that enables entrepreneurs to solve today’s biggest energy and environmental problems. Greentown Labs hosts a constant stream of events and programs for the cleantech community and tours more than 5,000 visitors from around the world each year. Its mission is to enable a vibrant community of entrepreneurs to realize their visions by providing access to the space, resources, and funding needed to thrive. For more information, visit www.greentownlabs.com, or find us on Twitter, Facebook, or LinkedIn.
LACI is a non-profit, public-private partnership that helps promising companies deliver market-ready cleantech solutions and the jobs that come with them. LACI combines capital, universities, research, government support, entrepreneurs, corporate partners, and business leaders in order to drive innovation throughout the regional, state, and global economy. Recognized as a Top 10 Global Incubator in 2014 by UBI, in its first three years LACI has helped 30+ companies who have raised $50+ million and have created 450+ jobs. Learn more at www.laincubator.org, Twitter and Facebook.
Chuck Tanowitz or Julia Bucchianeri