SOMERVILLE, Mass., Nov. 8, 2019 /PRNewswire/ -- Greentown Labs, the largest cleantech startup incubator in North America, today announced Sumitomo Chemical America as its newest Terawatt Partner. Sumitomo Chemical America, Sumitomo Chemical's regional headquarters for the Americas, is a member of a group of more than 160 companies operating around the world in business sectors as diverse as petrochemicals and plastics, energy and functional materials, IT-related chemicals, health and crop sciences, and pharmaceuticals. The partnership will embed Sumitomo Chemical America within the Greentown Labs' startup community and the Greater Boston cleantech ecosystem.
Sumitomo Chemical America solves problems facing the global community by creating new value, building on technology innovations, and contributing impactfully to society. The Corporate Venturing and Innovation team, located in Cambridge, Mass., is actively engaging with early-stage startups and experienced entrepreneurs alike to accelerate the development of next-generation technologies, businesses, and drive sustainable business growth.
Key elements of Sumitomo Chemical America's partnership include:
- Startup Pitch Day: Greentown Labs will coordinate a full day of meetings with Greentown Labs resident startups or external, regional startups innovating with advanced materials. The goal of the pitch day is to provide access to vetted deal flow and will conclude with a private networking reception.
- Sector Pitch Days: A unique offering for Terawatt-level partners, Sumitomo Chemical America will gain access to up to four day-long events focused on technological, business, and innovation trends within specific, emerging technology sectors. Sumitomo Chemical America will bring an advanced materials perspective to these events, which will feature sector-specific startup pitches, facilitated discussion among attendees, expert presentations, and networking.
- Advisory Board seat: Sumitomo Chemical America will gain a seat on Greentown Labs' Advisory Board which provides strategic guidance and input to the incubator on growth planning, partnership development, and other areas on a regular basis. Shin Saito will join the Advisory Board.
- Immersion into the Greentown Labs Community: Sumitomo Chemical America executives will host office hours and informational lunch sessions with Greentown Labs' startup community to showcase their areas of expertise, innovation priorities, and engagement opportunities for startups to connect with their company.
"Greentown Labs is proud to have Sumitomo Chemical America join our community of corporate partners that are committed to climate action and science-based targets," said Greentown Labs CEO Emily Reichert. "The combination of their chemical industry leadership across plastics, energy, and crop sciences along with their focus on sustainability aligns directly with our community's focus areas and we're eager to see how our entrepreneurs will collaborate with their organization!"
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, Massachusetts, and founded in 2011, the Greentown Labs Global Center for Cleantech Innovation 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 90 startups and has supported more than 230 startups since its inception. These startups have collectively created more than 2,800 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 on Twitter, Facebook, or LinkedIn.
About Sumitomo Chemical America
Sumitomo Chemical America Inc. (SCAI) is part of a group of more than 160 companies operating around the world in business sectors as diverse as Petrochemicals & Plastics, Energy & Functional Materials, IT-related Chemicals, Health & Crop Sciences, and Pharmaceuticals.
We established operations in the United States in 1976 as a wholly owned subsidiary of Sumitomo Chemical Co., Ltd. in Japan. We strive to develop sustainable innovative solutions and products for the world's most serious problems by combining the technologies and expertise we have accumulated through years of operation as a diversified chemical company.
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SOURCE Greentown Labs