A new company in San Fransisco aims to help cleantech startups get their feet on the ground in exchange for a piece of the action once they meet with success. The new “startup accelerator” called Greenstart recently announced its intentions to help guide promising entrepreneurs toward profitable futures in clean energy.
Greenstart reports that it expects to enroll 10 companies in its first 3-month program, which is slated to begin on September 12, 2011. Those entrepreneurs that are accepted will get $25,000 worth of investment capital as well as mentoring and networking with leading cleantech and venture capital investors at the end of the program. In exchange Greenstart says it will get a 3-10% stake in each company they enroll.
The company is seeking is “new cleantech” startups that have demonstrated capital efficiency and the potential to generate revenue in 12 months or less. Greenstart seems primarily interested in entrepreneurs who are pursuing innovations in “clean energy sources, clean energy distribution, smart grid, energy efficiency software, clean web, and more.”
Greenstart says it is accepting applications for its first-round program until July 3, and will announce the finalized class roster on August 3. Those interested in applying can visit Greenstart here.