Greenstart Launches as the First Accelerator for Cleantech Startups

SAN FRANCISCO, May 24, 2011 /PRNewswire/ -- Greenstart, the first startup accelerator exclusively designed for Cleantech companies, debuts today.  Based in San Francisco, the company will help promising entrepreneurs get the guidance they require to grow successful next generation clean energy companies.

Greenstart expects to enroll 10 companies in its first 3-month program, which begins on September 12, 2011.  Accepted entrepreneurs will receive $25,000 in investment funding, comprehensive mentoring and networking, and introductions to leading cleantech angel and venture capital investors at the end of the program. Greenstart will receive a 3-10% stake in each company they enlist.

The program is focusing on "new cleantech" startups – those that are capital efficient and capable of attaining revenue in 12 months or less.  Such entrepreneurs may be pursuing innovations in clean energy sources, clean energy distribution, smart grid, energy efficiency software, clean web, and more.

Greenstart is led by three successful technology entrepreneurs: Mitch Lowe, founder and former CEO of Jumpstart Automotive Media and current board chairman of Quirky; Dave Graham, co-founder of OpenAuto and Managing Partner at ArizonaBay Technology Ventures; and Dillon McDonald, former COO and then CEO of Jumpstart Automotive Media and a founder of the Entrepreneurship Center at Cal Poly San Luis Obispo.  In addition to the founding team, Greenstart has recruited more than 20 mentors, including serial entrepreneurs, venture capital investors and executives of major Silicon Valley technology companies, to impart knowledge and share their entrepreneurial experience.  

"Many young entrepreneurs want to start cleantech companies that can make a difference, and we want to increase their chances of success," said Greenstart Managing Partner Mitch Lowe.   "We offer them the benefit of experience, and save them the kinds of learning pains that we endured so they can take the quickest path to building a successful company – both financially and in environmental impact."

Greenstart will accept applications for its inaugural program until July 3, and will announce its first class roster on August 3.  To apply for the program, visit www.greenstart.com/apply.

About Greenstart:

Greenstart is a cleantech accelerator program providing a fast runway to success for entrepreneurs addressing the energy challenge.  Greenstart provides seed funding, mentoring, and connections with fellow entrepreneurs and investors in order to give startups an advantage in launching the cleantech ideas of tomorrow.  The company is based in San Francisco. Additional information can be found at www.greenstart.com.

SOURCE Greenstart