Weâ€™re impatient. The energy crisis is urgent and we want to start making a difference as soon as we can.
Cleantech has been labeled as slow and capital inefficient â€“ known for its startups taking tens of millions of dollars and five years or more before being market ready. The results have often been binary, a big success or a total failure. Waiting years and investing millions before getting validation just isnâ€™t the pathway Greenstart is focused on.
Instead, we seek startups that can prove themselves quickly and with far less capital. These â€œFast Cleantechâ€ companies meet the following criteria:
â€¢ The product or service must either expand the use of clean energy or reduce the use of dirty energy.
â€¢ A prototype of the startupâ€™s product or service is already completed or can be completed within six weeks using less than $25,000 and with only the founders as employees.
â€¢ The founders are enthusiastic about sharing the prototype with actual customers and flexible enough to make quick changes to it and/or the business model based on the feedback received.
â€¢ If the startup is not already producing revenue when itâ€™s accepted to Greenstart, it has a strong likelihood of producing revenue within six months.