BLOOMBERG NEW ECONOMY — Almost every sector of our economy is in urgent need of efficiency improvements, but investing in advanced building technologies is arguably one of the most effective and impactful areas of opportunity. Glass materials, commercial energy management tools and HVAC systems are particularly ripe for disruption. Smarter buildings help create smart cities, which in turn lead to better climate outcomes for our society.
The Wells Fargo Innovation Incubator (IN2) was initially launched with building energy advancements in mind. The program is now a $50 million collaboration with the U.S. Department of Energy’s (DOE) National Renewable Energy Laboratory (NREL) that identifies, validates, and scales promising cleantech startups, with the goal of commercializing high-impact, low-emission solutions for the built-environment and agriculture sectors.
IN2’s technology breakthroughs and the real-world impact of participating startups have only been possible with the program’s emphasis on R&D and bringing different industries and scientific experts together. This type of public-private partnership model can serve as inspiration for how the private sector can help bring new and critical resources to market, faster.
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