REDWOOD CITY and FRESNO, CALIF. — The Cleantech Open (www.cleantechopen.org), the world’s largest clean-technology business competition, has announce that Grundfos Pumps, one of the world’s leading pump manufacturers, is providing expertise and, potentially, capital resources to participants in the 2011 edition of the Cleantech Open. Grundfos executives will serve as subject-matter experts, mentors, and judges to early-stage cleantech startups in the Cleantech Open, providing these entrepreneurs the knowledge and business relationships that will increase their ability to make a tangible impact on economic growth and environmental change.
“This cooperation gives us a unique opportunity to identify new business and expand our network,” said Henrik Skov Laursen, head of the Grundfos Water Technology Center located in Fresno, Calif. “It allows us to have a dialogue and potentially partner up with cutting-edge companies at a very early stage. This is extremely important if you want to be part of radical innovation. Our Innovation Intent clearly states that Grundfos has a goal to create additional product strategies and business streams alongside our core pump business. This partnership is an important part of that vision.”
A non-profit organization, the Cleantech Open helps connect entrepreneurs with the expertise, talent, and funding needed to create successful, sustainable businesses. Since its inception in 2006, more than 470 promising entrepreneurs have availed themselves of the Cleantech Open’s unique, hands-on workforce development, nurturing, and funding programs. And with impressive results: Cleantech Open alumni companies have raised over $300 million in private capital while creating thousands of clean-technology jobs.
“We believe that startups don’t necessarily fail due to the lack of a good idea, or even funding,” said Rex Northen, executive director of the Cleantech Open. “More often than not, entrepreneurs can lack the business expertise and relationships necessary to transition successfully from an innovative idea to a thriving business. This partnership with Grundfos will help deliver the expertise and connections needed to execute and achieve water-technology innovations — and success at scale.”
The Cleantech Open runs the world’s largest cleantech business competition. Its mission is to find, fund and foster entrepreneurs with big ideas that address today’s most urgent energy, environmental and economic challenges. A 501(c)(3) not-for-profit organization, the Cleantech Open provides the infrastructure, expertise and strategic relationships that turn clever ideas into successful global cleantech companies. Since 2006, through its one-of-a-kind annual business competition and mentorship program, the Cleantech Open has enabled hundreds of clean-technology startups to bring their breakthrough ideas to fruition and created an estimated 2,500 green-collar jobs. Fueled by a global network of more than 1,000 volunteers and sponsors, the Cleantech Open unites the public and private sectors in a shared vision for making America’s cleantech sector a thriving economic engine. Additional information is available at www.cleantechopen.org.