The program supported 69 New York based companies on their journey to making manufacturing more accessible to scale up production quickly to meet demand
NEW YORK, NY / ACCESSWIRE / June 15, 2023 / SecondMuse, an impact and innovation company, today released the Scale For ClimateTech 2023 Impact Report. The program supported founders in raising an additional $430+ million in capital through venture capitals, grants and other fundraising streams. Scale For ClimateTech is administered by SecondMuse and non-profit entrepreneur catalyst NextCorps, and supported by the New York State Energy and Research Development Authority (NYSERDA).
“The goal of Scale for ClimateTech is to support the development of climate solutions that can limit greenhouse gas emissions to 40% of 1990 levels by 2030 as established by The Climate Leadership and Community Protection Act of New York State,” said Shelby Thompson, Program Director, Scale For ClimateTech at SecondMuse.
“While administering the program, I quickly learned that climate action is about embracing new technologies, scaling the innovators behind them, investing in infrastructure, and engaging in community activism and climate justice to build a new way of addressing change that works for all, not just for some.”
Scale For ClimateTech provides immersive training on manufacturing and business planning, along with a team dedicated to making manufacturing easier – from mentors and experts in the field and product and packaging designers, to manufacturers, suppliers, and investors. Companies are coached by their peers, a community of technical experts, customized accountability teams, and a network of partners in the New York ecosystem.
Jake Berlin, Technology to Market Program Manager at NYSERDA said, “We are proud to work with SecondMuse and our partners on this innovative program focused on manufacturing scale-up within climate tech. Scaling manufacturing stimulates the growth of the local economy, creates high-paying jobs in our communities, and further solidifies New York as the premier place to do business.”
In addition to the core, cohort-based program, Scale for ClimateTech’s Manufacturing & Expertise-in-Residence (MEIR) program helped over 40 companies complete manufacturing projects. The impact of this grant program helped push companies forward in their product development and had a significant ripple effect – including over $12 million in new funding, $1.8 million in additional spending, 48 new employees onboarded, and a reduction in time-to-market by an average of seven and a half months.
“Scale for ClimateTech and the MEIR program provided crucial support to Voltpost during a time where it’s been difficult to bridge the gap between feasibility and scale up,” said Jeff Prosserman, CEO of Voltpost, a program participant that works to repurpose lampposts to electric vehicle chargers.
“Climate change will impact many future generations and reducing greenhouse gas emissions has great urgency,” said Mike Reidlinger, Managing Director of Technology Commercialization at NextCorps. “We will need new consumer products with low or no GHG emissions, as well as devices that help supply energy to our homes and offices from fossil-fuel free and renewable sources. In reflecting on the entirety of the program, we can take great pride in the accomplishments with the knowledge that the work done by all has made a positive difference — now and for the future.”
To learn more about Scale for ClimateTech, visit https://forclimatetech.org/scale-for-climatetech/.