2020 Annual Report
“IN²: Catalyst to Success”

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STATE OF THE
CLEANTECH LANDSCAPE:
OUR NEW REPORT

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VALIDATING TECHNOLOGIES IN WORLD-CLASS FACILITIES

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FOSTERING A ROBUST ECOSYSTEM

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Innovation. Validation. Commercialization.

The Wells Fargo Innovation Incubator (IN²) is the proven model for assisting clean technology and agriculture companies to accelerate their paths to market. These start-up companies create products with tremendous potential to positively impact energy use and the environment, but need technology validation to attract the investment community. Enter IN².

Funded by the Wells Fargo Foundation, IN² harnesses the world-class expertise and facilities of the U.S. Department of Energy National Renewable Energy Laboratory (NREL) and the Donald Danforth Plant Science Center (Danforth Center). IN²-selected companies receive $250,000 non-dilutive grants to validate their technologies at NREL or the Danforth Center and secure the priceless benefit of business connections across the entire IN² network.

Companies validate technologies at world-class facilities

National Renewable Energy Laboratory

As a national laboratory, NREL is a global leader in advancing the science and engineering of energy efficiency, sustainable transportation, and renewable power technologies and provides the knowledge to integrate and optimize energy systems. Our companies not only receive expert guidance from engineers and scientists at the lab, but also the benefit of multi-million dollar user facilities.

Danforth Plant Science Center

Companies in our agriculture cohorts receive research support at the Donald Danforth Plant Science Center — the world’s largest independent plant science institute housing some of the world’s top research talent focusing on research at the nexus of food, energy and the environment to improve the productivity and sustainability of agriculture.

IN² Companies Road to Success

IN²companies have experienced a variety of investments and attracted interest. To date, 15% of the program’s companies have seen successful exits in the form of mergers or acquisitions.

To date, 46 portfolio companies have each received up to $250,000 in technical assistance and project related support

IN² portfolio companies have gone on to raise $568 million in follow-on funding from external sources

MERGERS & ACQUISITIONS

Since joining IN², 9 portfolio companies have seen successful exits in the form of mergers or acquisitions

CONNECTIONS

Companies have received more than 100 connections to corporations, government entities, investors, utilities and other members in our ecosystem.

OUR INVESTMENTS GO FAR

IN² companies raise more than $46 in external follow-on funding for every $1 awarded.

Events
Corporations
Government
Utilities
Investors
Incubators/Accelerators

Connecting Startups with Industry

IN² speeds a company’s path to market by facilitating connections with nationwide network of cleantech and agtech business incubators, accelerators, universities, and industry experts. Introductions to corporations such as Lockheed Martin, Ingersoll Rand, and Danfoss; Fortune 500 companies such as Emerson Electric, Target, and Costco; government entities; investors; and major event opportunities (Greentech Media events, VERGE) are among the connections that have resulted in successful relationships and partnerships as a result of the IN² program.