Thursday, May 22, 2008

How Can We Attract An Additional $1 Billion in CleanTech Funding?

The New England Clean Energy Council has just put out its first major report, which makes the case that building a strong clean energy cluster in New England can bring as much as $1 billion in incremental investments to our region between now and 2012.

The study, produced by Topline Strategy and NECEC, makes the case that Silicon Valley is the only obvious concentration of clean energy companies so far, with about 26 percent of all venture-backed companies located there. New England is now #2, but only by a hair. We've got 9.7 percent of all the VC-funded clean energy companies, and the LA area has 8.9 percent.

One way to support the creation of more companies here, the study suggests, is to do a better job pairing up scientists and researchers with the entrepreneurs and managers that can help build big companies (possibly by pulling in leaders from other sectors of the economy.)

I'd also suggest that marketing, conferences, and networking events are also going to be key to letting folks know that this part of the world is conducive to building cleantech companies.

You can read the study here.

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