The U.S. Department of Energy (DOE) has announced $3 million to support clean energy businesses and entrepreneurs. This "National Incubator Initiative for Clean Energy" will help to provide critical support to help entrepreneurs commercialize their ideas and bring them to market more quickly.
Overseen by the DOE's Office of Energy Efficiency and Renewable Energy (EERE), these funds will be awarded to incubators across the country. In turn, this national incubator network will directly provide mentorship, business development, capital access, and manufacturing support to promising clean energy ideas. According to the announcement, this initiative will support this national network of clean energy incubators and early-stage companies through two primary channels:
1. National Organization: The DOE will fund a national organization to support the coordination of American clean energy-focused business incubators. This organization will serve as a central source of information about incubators, enable entrepreneurs to have easier access to clean energy incubators and services, and connect industry with innovative clean energy start-up companies.
2. Clean Energy Incubators: The Energy Department will fund up to five incubators to identify, develop, and implement best practices for top-performing, clean energy-focused incubators. These organizations will support early-stage companies as they scale to production and enhance our clean energy sector and manufacturing competitiveness.