Transcript NYC ACRE The New York City Accelerator for a Clean and Renewable Economy; an NYU-Poly i2e initiative.

NYC ACRE
The New York City
Accelerator for a Clean and Renewable Economy;
an NYU-Poly i2e initiative
US Electric Power Industry Net Generation,
2008
Sources: U.S. Energy Information Administration, Form EIA-923, "Power Plant Operations
Report.”
Mission
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Grow an ecosystem of entrepreneurs, innovative local
startups and international companies
Identify solutions to climate and energy issues in dense,
urban environments
Create jobs, wealth and revenue growth in NYC
Leverage NYC demand, markets, and talent
Provide opportunities for academic engagement
Business Support
Services
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Coordination with market adopters +
policymakers
Streamlined access to incentives/programs
Tech. design, development, deployment
Subsidized faculty mentors and student
interns
Capital planning & financial operations
Access to venture funding for growth
Local network of experts & mentors
‘Virtual’ membership opportunities
Existing Partners
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NYSERDA
NYCEDC
NYC Investment Fund
NYU
Columbia University
Pratt Institute
Strategy
• Anchor a physical and virtual community of cleantech
entrepreneurs at 160 Varick Street in downtown Manhattan and
throughout NYC
•Build an ‘ecosystem’; tenants sharing space/knowledge, virtual
tenants linked through intranet, connected to other partners in
Sectors of focus as defined by New York City
shared objectives
Alternative Energy
& Power
Investment Fund
Materials & Green
Building
Distributed and renewable
energy generation (e.g. fuel
cells, geothermal wind, solar, Materials recovery and
biofuels, wave/tidal)
recycling
Energy storage and power
quality
Energy infrastructure and
management systems
(including related Internet
and IT-based services)
Energy efficiency and
transmission
Advanced and bio-based
materials
Nanotechnology (I.e.
precision manufacturing
instruments)
Green buildings and
sustainable design
Transportation &
Logistics
Alternative-fueled vehicles
(e.g. hybrid vehicles)
Logistics (e.g. logistics
software)
Air & Water
Technologies
Water purification (e.g. water
recycling, ultra-filtration
systems and desalination
equiptment)
Water management (e.g.
meters, sensors and
automation systems)
Airquality (e.g. air testing
equiptment and services,
emission scrubbers)
Historical Clean Tech Investment
Breakdown (Seed Stage Only) 20042009:
Total
Total Amount Average
Median
Cleantech
Sector
Air & Water
Technologies
Alternative
Energy & Power
Materials &
Green Building
Transportation &
Logistics
Number of
Deals
Invested
Amount
(in millions) Invested
Amount
Invested
7
4.10
0.58
0.5
15
8.50
0.57
0.55
3
1.84
0.61
0.56
2
0.55
0.27
0.58
•Data provided by Thomson Reuters; includes a sample of seed stage VC investments below $1mm 1/1/2004 to 6/18/2009.
Total number of investments in the sample is 27.
Higher Returns - Less
Cost
Why does the incubator model work?
(Making the most of available capital + minimizing risk)
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U.S. Dept. of Commerce EDA Jan. 2009:
“Incubators provide up to 20 times more jobs than
community infrastructure projects (e.g., water and
sewer) at a cost of $144 to $216 per job compared
with $2,920 to $6,872 for the latter”
87% of all firms that graduated from NBIA member
incubators in 90’s still in business
84% of graduates remained in community
Tenant Selection Criteria &
Metrics
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Credible technology & management team
Relevant & attractive market
Potential for sustainable competitive advantage
Potential for growth, economic dev. + attractive exit
opportunities (24 month residency)
Eval. Metrics: Jobs, Funding ($>500k), IP, New
products or services in the market
Current Tenant Portfolio
‘CleanTech Execs’
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NYSERDA: need for entrepreneurs +
early-stage clean energy“C-level execs”
25 “high-impact” individuals for first boot
camp; Feb. - June
Cleantech, energy markets, managementfocused curriculum
Link to NYC networking events/seminars
with cleantech community
Seminars & Outreach
Previous Facilitations:
•Convened two panels on buildings and energy use for
Climate Week NYC (2009)
•Organized year-long ‘Green Finance’ series with
Manhattan Chamber of Commerce (2010)
•Hosted energy infrastructure forum for State Dept. Iraq
CRDF program (April 2010)
Future Partnership Opportunities:
•Developing mini-conf. with USAEENYC; ‘innovations in
energy: policy + tech.’
•Organizing 2011 IEEE conference; ‘urban energy issues
+ smart grid’
•Convening NYU-Poly ECE Forums with industry
P4LTS
(Draft to be delivered 2011)
Revenue streams under consideration:
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Federal, state, city grant funding
Fortune 100 sponsorship
Tenant equity/convertible debt
Sponsored event series + newsletter
‘Goal is to be cash flow positive,
visible, and durable’
“America is the country of future. It is a country
of beginnings, of projects, of vast designs and
expectations.”
- Ralph Waldo Emerson, 1844