Accel-VT now accepting applications for entrepreneurs focused on reducing fossil fuel

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Accel-VT now accepting applications for entrepreneurs focused on reducing fossil fuel

Thu, 02/28/2019 - 5:37am -- tim

Vermont Business Magazine Accel-VT is seeking innovative, early-stage, energy companies focused on reducing fossil fuel consumption and greenhouse gas emissions in the heating and transportation sectors to participate in its business accelerator in Burlington, Vermont. The business accelerator, which is focused on helping early stage companies in climate economy innovation, is now accepting applications through April 28, 2019 for its summer 2019 climate economy entrepreneur program.

Eight to 10 companies will be competitively selected from Vermont and throughout the U.S. to work with climate economy leaders, industry experts, potential partners and investment professionals. Participants will complete an intensive curriculum, developed by Village Capital, during three four-day onsite workshops over three months in addition to webinars and mentoring sessions between the workshops.

This will be the third cohort for Accel-VT, which is managed by the Vermont Sustainable Jobs Fund (VSJF), a nonprofit organization working to improve sustainable economic development in Vermont. Every cohort company that participated in the 2017 and 2018 programs benefited from substantive meetings with various Vermont companies who were looking for innovative technologies and products.

“As national environmental protections are weakened and challenges presented by climate change become more widely recognized, Vermont positions itself as the state where climate change and resource renewal can spark business growth and economic development,” said Geoff Robertson, business assistance director at the Vermont Sustainable Jobs Fund.

In addition to connecting the accelerator participants to the larger ecosystem of business support and capital in Vermont, participants will also be competing for a $25,000 non-equity prize that will be awarded to each of the top two companies through a peer-ranking system as well as up to two $10,000 prizes from Accel-VT Energy sponsor Burlington Electric Department (BED).

BED will provide up to $10,000 in Tier 3 funds for up to two cohort companies, for a total of $20,000 to demonstrate their technologies through qualifying projects or programs in Burlington, VT at the close of Accel-VT Energy. Tier 3 of Vermont’s Renewable Energy Standard requires distribution utilities to acquire fossil fuel savings from energy transformation projects (projects that reduce fossil fuel consumed by their customers in the heating and transportation sectors).

Who Should Apply

Accel-VT is interested in startup and/or seed stage ventures who offer new technologies, or novel applications of existing technologies, aimed at reducing fossil fuel use and greenhouse gas emissions in the heating and/or transportation sector. Some examples include, but are not limited to, ventures that are enabling:

  • solutions to make electric transportation more affordable, accessible, and widely-available;
  • new electric vehicle recharging infrastructure for homes, businesses, and the public;
  • new technology to help utilities interface with electric charging infrastructure to manage demand or send price signals or enable dynamic or other rates;
  • new air-source and ground-source heat pump technologies, including demand management and boiler-compatible;
  • advanced biomass and biofuel solutions for homes, businesses, and public-sector institutions;
  • solar water heating solutions; and
  • district heating technologies and applications.

To learn more about Accel-VT and the 2019 application process, visit Applications are due April 28, 2019.

About Accel-VT – A Climate Economy Business Accelerator

Accel-VT is a business accelerator providing startup support, mentorship, and access to capital for climate economy entrepreneurs who want to establish their business here in Vermont. In future cohorts, Accel-VT may address other climate related innovation opportunities, including green building, sensor technologies, data management, and resource recycling. The resiliency of working lands businesses, as well as some segments of manufacturing, transportation planning, and community development, are also components of the climate economy.

About Vermont Sustainable Jobs Fund

The Vermont Sustainable Jobs Fund (VSJF) is a nonprofit organization committed to nurturing the sustainable development of Vermont’s economy. VSJF provides business assistance, network development, strategic planning, and value chain facilitation in agriculture and food system, forest product, waste management, renewable energy, and environmental technology sectors. The Vermont Sustainable Jobs Fund was created by the Vermont Legislature in 1995 to partner with state government, private sector businesses, and nonprofits to build a thriving economic, social, and ecological future for Vermont.

Source: MONTPELIER, VT – Accel-VT 2.27.2019