SOMERVILLE, Mass., Feb. 18, 2020 /PRNewswire/ -- Greentown Labs, the largest cleantech startup incubator in North America, and Schneider Electric, the global leader in the digital transformation of energy management and automation, are now accepting applications for Bold Ideas 2020. Greentown Labs and Schneider Electric are seeking submissions from Pre-Seed to Series B stage entrepreneurs who can enable the swift deployment, integration, and operation of energy storage assets at scale.
Bold Ideas 2020 is a six-month accelerator program housed at Greentown Labs in Somerville, Mass., and focused on fast-tracking entrepreneurs with the mentors, team members, and business and technical resources they need to launch or scale successful ventures with direct support from Schneider Electric.
Bold Ideas 2020 follows the success of the first Bold Ideas Challenge, a corporate accelerator run by Greentown Labs and Schneider Electric from 2018-2019. The Bold Ideas Challenge resulted in Schneider Electric entering into a joint development agreement and investment with Titan Advanced Energy Solutions, whose technology increases charge capacity and battery life.
"We are excited to work with Greentown Labs again and discover talented entrepreneurs working in the energy storage space. We are an ideal value-add partner for startups looking to scale quickly and make an impact in our industry," said Rodolphe Heliot, Vice President of Incubations at Schneider Electric.
Startups selected to participate in the program will benefit from mentorship, networking opportunities, educational workshops, and partnership-focused programming through Greentown Launch, a six-month partnership acceleration program for startups provided by Greentown Labs. Within this framework, Bold Ideas 2020 will help startups explore potential partnership outcomes with Schneider Electric, such as incubations, commercial agreements, joint ventures, and investments. Furthermore, participants will receive desk space and membership at Greentown Labs for the duration of the program and $25,000 in non-dilutive grant funding to cover travel and any other program expenses.
"The world is undergoing a rapid transition to a distributed, digitized, decarbonized, and democratized energy economy and we're thrilled to once again partner with Schneider Electric on an acceleration challenge to support entrepreneurs with breakthrough solutions to advance this transition," said Emily Reichert, CEO of Greentown Labs. "We are proud of the results from our first Bold Ideas Challenge and optimistic this program will yield similar results!"
Applications for Bold Ideas 2020 are due by May 1 at 11:59 p.m. ET. Interested innovators and entrepreneurs can learn more about the call for applications by visiting the website. Applicants are encouraged to attend the program kickoff event at Greentown Labs' headquarters in Somerville, Mass. on June 30. Visit www.greentownlabs.com to learn more and register for the event.
About Greentown Labs
Greentown Labs is a community of bold, passionate entrepreneurs creating solutions for today's biggest climate and environmental challenges. Located in Somerville, Mass., and founded in 2011, Greentown Labs is the largest cleantech incubator in North America, operating a 100,000 sq. ft. campus comprised of prototyping and wet lab space, shared office space, a machine shop, electronics lab, and a curated suite of programs and resources. Greentown Labs is home to more than 100 startups and has supported more than 250 startups since its inception. These startups have collectively created more than 6,500 direct jobs and have raised more than $750 million in funding. The incubator's mission is to provide entrepreneurs with the community, resources, and space they need to thrive. For more information, please visit www.greentownlabs.com or connect on Twitter, Facebook, or LinkedIn.
About Schneider Electric
At Schneider, we believe access to energy and digital is a basic human right. We empower all to make the most of their energy and resources, ensuring Life Is On everywhere, for everyone, at every moment. We provide energy and automation digital solutions for efficiency and sustainability. We combine world-leading energy technologies, real-time automation, software and services into integrated solutions for Homes, Buildings, Data Centers, Infrastructure and Industries. We are committed to unleash the infinite possibilities of an open, global, innovative community that is passionate about our Meaningful Purpose, Inclusive and Empowered values.
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