Channel Partners
May 23, 2024—As the Wells Fargo Innovation Incubator (IN²) celebrates its tenth anniversary, it is important to acknowledge that without the Channel Partner network, the program would not be where it is today.
“It was part of our master plan from the beginning,” said Kate Moore, head of Partnerships, Innovation, and Entrepreneurship for the National Renewable Energy Laboratory (NREL), and the first program manager for IN². “We wanted to think of a system approach from day one to build that pipeline of innovation.”
The Channel Partner network is a community of universities, accelerators, incubators, and industry programs that recommends startups for participation in IN². For the first cohort, Moore and others needed a reliable source of applicants so they created the network at the same time, often visiting potential Channel Partners in person around the country to build relationships.
“Through those trusted relationships we nurtured, we were able to demonstrate value to the companies that they were supporting, then the momentum grew, and this network formed,” Moore said. “It’s about people at the end of the day. It’s about relationships.”
Starting as a resource for IN², the Channel Partner network kept expanding and now aids several programs in NREL’s Innovation and Entrepreneurship Center (IEC) including the Shell GameChanger AcceleratorTM Powered by NREL, Chevron Studio, and more.
“These 60 to 70 different organizations collectively represent 6,000 startup companies,” said Bill Farris, NREL associate laboratory director for Innovation, Partnering, and Outreach. “The channel partner network helps us find the best startups to work with and we then give those selected startups access to NREL’s facilities and help those startups progress. That’s a pretty magical recipe.”
Over the years, the Channel Partner network ensured that IN² participants are among the cream of the crop, leading to more return on investment for Wells Fargo’s funding and successes in the cleantech space.
“Our network consists of the people who are building up innovation across the nation,” IEC Director and former IN² Program Manager Trish Cozart said. “They know all the startups—they know who’s who and are a great pipeline for innovation for us. You would think incubators are competitors, but they are in different regions, with different skill sets, and focus on specific tech areas. Startups often bounce between accelerator and incubator programs, so the Channel Partner network members can learn from each other and share knowledge about the companies. The more we all learn, the better we are at getting technology into the market.”
“The energy among the Channel Partner representatives is unique,” said John Moon, Wells Fargo senior vice president, sustainability philanthropy leader. “The appreciation that the network members have for each other and for the program is heartening. In cleantech, and in their specific regions, they often feel like they’re working in silos. But they have shared challenges and solutions and can get support from one another and learn best practices from one another. The camaraderie and partnership they get from the network is incredible and not something we could have imagined when we started the program.”
When Wells Fargo and NREL created IN² 10 years ago, using a Channel Partner network had never been done before. It was unprecedented for a national lab to join in this type of partnership with a corporation, facilitating aid to startups, instead of just having a corporation just deal directly with startups. It means the participants get more analysis and vetting, helping Wells Fargo choose companies that could see more success.
“It’s a relatively simple recipe, but it’s still proven to be unique,” Farris said.
The joint goal of all members of the Channel Partner network is to accelerate clean technologies to the market and they understand they must work together to accomplish that more efficiently and effectively.
“Everybody is open to this idea of collaboration,” IN² Program Manager Sarah Derdowski said. “How can we work together to elevate this and elevate our startups? It’s a very collaborative environment and that is just a great space to be in.”
The current Channel Partner network stands at 62 organizations across 29 U.S. states and Canada. View a complete list and learn more about the Channel Partner network.
In the spirit of collaboration, members of the Channel Partner network will host workshops at the upcoming Camp Cleantech event, to be held August 12-14, 2024 in Colorado. Learn more about the event and register now.