Provides financial support to local entrepreneurs to participate in prestigious accelerator program

 

Providence, RI, June 18, 2018 – The Slater Technology Fund announced today that four Rhode Island startups have been selected to participate in this year’s Cleantech Open Northeast, a regional chapter of the world’s oldest and largest cleantech accelerator program. Slater encouraged Rhode Island entrepreneurs to apply for the Cleantech Open by underwriting the application costs and the participation fees. NECEC Institute (one of the nonprofit NECEC companies), runs Cleantech Open Northeast.

“Entrepreneurship is a powerful catalyst for the kind of change we need to attack the world’s most pressing problems,” said Thorne Sparkman, Slater managing director. “That’s why we’re happy to work with NECEC on the Cleantech Open, which is helping prepare the next generation of entrepreneurs who will create the clean economy. We’re especially proud of the fact that a record number of Rhode Island companies will be participating in the program this year.”

The Cleantech Open accelerator is designed to provide entrepreneurs the resources they need to launch and grow successful cleantech businesses. Since its founding in 2005, Cleantech Open has trained more than 1,200 early-stage clean technology startup entrepreneurs through its annual business accelerator, which offers a program of customer discovery, extensive mentoring, training, investor meetings, and startup-corporate matching. To date, more than 70 percent of Cleantech Open alumni have gone on to raise $1.2 billion and create more than 3,000 clean economy jobs.

The four Rhode Island companies chosen for the 2018 Cleantech Open class include:

• Aquabytes, a startup applying computer vision and machine learning models to provide actionable information for individual homes, municipalities, and water utilities.
• Heliotrope Energy, a startup using artificial intelligence and robotics to lower the cost to develop, manage and control renewable energy systems.
• OysterTracker, developer of an aquaculture management platform that helps oyster farmers manage their workers, optimize their lease activities, and plan their harvests.
• TechStyle Materials, a developer of multifunctional construction materials designed to increase the energy efficiency, comfort and durability of buildings.

“We are thrilled that Slater Fund is helping Rhode Island startups participate in the 2018 Cleantech Open accelerator. This is an auspicious beginning of what we hope will be a long-term and very productive relationship between the Rhode Island cleantech innovation community and Cleantech Open,” stated Beth Zonis, Northeast Regional Director, Cleantech Open, NECEC.

About Slater Technology Fund

The Slater Technology Fund is a not-for-profit seed fund dedicated to backing early-stage technology ventures committed to basing and building businesses in Rhode Island. Slater focuses its resources on the support of entrepreneurs who have the vision, leadership and commitment to build substantial commercial enterprises. Slater invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term.

About Cleantech Open

Cleantech Open is the world’s oldest and largest cleantech accelerator and is dedicated to providing entrepreneurs and technologists the resources needed to launch a successful cleantech company. Our mission is to find, fund and foster entrepreneurs with big ideas that address today’s most urgent energy, environmental, and economic challenges. A 501(c)(3) not-for-profit organization, the Cleantech Open provides the infrastructure, expertise and strategic relationships that turn clever ideas into successful global cleantech companies. Over the past eight years, the Cleantech Open has awarded over $5 million in cash and services. During that time, our 1200 alumni companies have raised more than $1.2 billion in external funding. Fueled by a network of more than 2,000 volunteers, the Cleantech Open unites the public and private sectors in a shared vision for making America’s cleantech sector a thriving economic engine. For more information, visit us at cleantechopen.org , or follow us on Twitter.

About NECEC

NECEC (Northeast Clean Energy Council & NECEC Institute) is the premier voice of businesses building a world-class clean energy hub in the Northeast, helping clean energy companies start, scale and succeed with our unique business, innovation, and policy leadership. NECEC is the Northeast regional affiliate for Cleantech Open, executing the Northeast accelerator and business plan competition and building the region’s innovation network with NECEC’s successor program for cleantech entrepreneurs, Cleantech Navigate Northeast. Learn more at www.necec.org.

 

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Media Contacts
Laura Nelson
SVM Public Relations
401.490.9700
laura.nelson@svmpr.com

 

Sean Davenport
NECEC
617.600.7204
sdavenport@necec.org