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Published on Oct 30, 2014
DENVER, Oct 28, 2014 /3BL Media/ – Wells Fargo (NYSE:WFC) today launched the Innovation Incubator (IN2) program, a $10 million environmental grant for clean technology startups funded by the Wells Fargo Foundation and co-administered by the Energy Department’s National Renewable Energy Laboratory (NREL) to foster the development of early stage clean technologies for commercial buildings. The program is the first of its kind within the banking industry.
Announced today at the NREL Industry Growth Forum in Denver, clean technology startups will be identified and recommended by Wells Fargo’s network of technical, financial and industry advisors at laboratories and research facilities across the country. The first of three rounds of selected companies will be announced in early 2015, and will receive up to $250,000 for business development needs, research and testing support at NREL’s world-class facility in Golden, Colo., along with coaching and mentorship from Wells Fargo. An independent advisory board of nearly a dozen industry leaders representing the commercial building sector, academia, community organizations, successful entrepreneurs and technical experts will select the final companies to be included in the IN2 program.
The IN2 program will source candidates from universities and regional accelerators providing a pipeline of early stage technology companies to apply. Selected technology companies will reach specific technology milestones in the NREL lab with an opportunity to deploy and field test in Wells Fargo buildings.