SOURCE: Clean Tech Open

June 11, 2008 15:29 ET

Clean Tech Open Alum Now Raise Close to $70 Million in Funding

2008 Competition to Join Their Ranks Closes This Saturday, June 14

PALO ALTO, CA--(Marketwire - June 11, 2008) - The Clean Tech Open, the USA's leading clean tech business plan contest, is reminding all early-stage clean technology companies that they have just three days left to enter this year's competition to win one of six $100,000 prizes.

This week, Aurora Biofuels, Runner-Up in the 2006 Clean Tech Open, announced it has closed $20 million in second round funding, which brings the total of angel, venture capital and private investment funding raised by Clean Tech Open alumni companies to almost $70 million in just two years.

"To any early-stage startups who are thinking of competing in the Clean Tech Open, my advice is 'just do it,'" said Matt Caspari, CEO of Aurora Biofuels. "The benefits to our company have been extraordinary."

The competition awards "$100,000 Start-Up in a Box" prize packages for the best ideas in six clean tech categories: Air, Water & Waste, Energy Efficiency, Green Building, Renewable Energy, Smart Power and Transportation. In addition to the $50,000 cash offered by the Category sponsors, including AMD, Google, Lexus, PG&E, SCE, SDG&E and Siemens TTB, each winner also receives a suite of in-kind services worth $50,000 including:

--  Office space for one year from Plug and Play Tech Center
--  Legal services from Wilson Sonsini Goodrich & Rosati
--  Recruiting services from PeopleConnect
--  Accounting services from Accretive Solutions
--  Public relations services from Page One Public Relations
--  Insurance services from MacCorkle Insurance Service
--  Marketing services from Positive Impact Partner
    

Additional services for all finalists include a comprehensive entrepreneur summer workshop series sponsored by the Cleantech Circle; mentoring services; a sustainability starter kit; an opportunity to pitch a panel of category experts and gain live feedback; taking part in a finalist showcase at the November awards event; inclusion in the CTO Finalist Directory and a one-year, two-seat subscription for Adaptive Planning's Enterprise Edition, an essential budgeting and forecasting tool.

To enter, simply submit a three-page executive summary at www.CleanTechOpen.com by midnight PDT on Saturday, June 14, 2008. There is even a simple template to follow. The entry fee is $250, reduced to $150 for all-student teams. Full competition details are available at the website under COMPETITION.

About the Clean Tech Open:

The Clean Tech Open brings together a unique and powerful combination of entrepreneurs, researchers, environmentalists, investors, business professionals and others to create economic growth and environmental sustainability by sparking a clean technology cluster in California. By giving winners early-stage capital and expertise, the competition speeds clean technologies from lab to market. The goal is to foster innovative new businesses focused on energy efficiency, smart power, renewable energy, transportation, green building technologies, pollution control and resource management. The competition thrives on the state's strong business and governmental support for innovation, technology and environmental protection to create rich soil for the growth of clean technology enterprises that foster a healthy natural environment. To learn more, please visit: www.CleanTechOpen.com.

The Clean Tech Open is under the fiscal and administrative sponsorship of Acterra: Action for a Sustainable Earth, a California 501(c)3 non-profit public benefit corporation. Acterra is located at 3921 East Bayshore Road, Palo Alto, CA 94303-4303.

Contact Information

  • Press Contact:
    Trish Colby
    Page One Public Relations
    650-543-4703
    Email Contact