DBusiness Daily Update: LTU’s Centrepolis Accelerator Launches New ‘Clean Tech’ Program
- In the News
- March 2, 2021
The Centrepolis Accelerator at Lawrence Technological University in Southfield has launched a new program called the C3 Accelerator for green technology companies working in the clean tech, climatech, and circular economy industries.
The new accelerator, funded in part by the Michigan Department of Environment, Great Lakes, and Energy (EGLE), New Economy Initiative (NEI), and the Wells Fargo Innovation Incubator (IN2), will offer a total pool of $275,000 in funding including grants, no equity interest-free investments, and services to support product development and scaling of clean tech, climatech, and circular economy technologies.
In general, these technologies have a positive impact to energy efficiency, generate renewable energy, reduce greenhouse gas emissions, replace non-renewable materials, preserve clean water, and promote recycling, upcycling, and the circular economy.
Accelerator services include free or discounted product design, engineering, prototyping, testing, and validation, along with pilot and demonstration project cost sharing, assistance from experts-in-residence, design for manufacturability assessments, and supply chain development support. The Accelerator will also offer assistance in applying for federal grants and connections to universities, national laboratories, customers, strategic partners and investors.
C3 is a growth stage accelerator focused on proven technologies that need help with customer adoptions for specific applications and scaling. Individual grants will range from $5,000 to $10,000 per client. Equity free, zero-interest $15,000 investments also will be available, with a success fee added if a product achieves market success. Thanks to funding provided by EGLE, NEI, and IN2, a portion of these investments will be dedicated to support ventures led by women, people of color, veterans, and other underrepresented entrepreneurs.
The accelerator also plans an annual C3 Accelerator Business Showcase Pitch Event, tentatively planned to begin Aug. 26, allowing companies to present to a large group of potential customers, partners, and investors.
The deadline to apply to become a client of the C3 Accelerator is Monday, May 31. To apply to the program, visit here.
An informational webinar is scheduled for March 16 from noon to 1 p.m. To register, visit here.
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