NREL.GOV — The Wells Fargo Innovation Incubator (IN2), managed by the National Renewable Energy Laboratory (NREL), reached a milestone: Its portfolio of startup companies has raised more than $1.1 billion in external funding since joining IN2. This translates to the companies raising $95 for every dollar invested in them by the Wells Fargo Foundation.
Over the past seven years, 56 cleantech startups have been selected for the IN2 program. The companies are provided $250,000 in non-dilutive technical assistance at NREL or the Donald Danforth Plant Science Center in St. Louis, Missouri. Additionally, they are introduced to an ecosystem of support including NREL’s investor network and a network of channel partners—more than 60 universities, accelerators, and incubators in the cleantech ecosystem.
The companies, for their part, have added more than 1,340 jobs to the economy. This represents a total employment growth rate of 136% within the IN2 portfolio.
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