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NYC ACRE

NYC ACRE. The New York City Accelerator for a Clean and Renewable Economy; an NYU-Poly i2e initiative. US Electric Power Industry Net Generation, 2008. Sources: U.S. Energy Information Administration, Form EIA-923, "Power Plant Operations Report.”. Mission.

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NYC ACRE

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  1. NYC ACRE The New York City Accelerator for a Clean and Renewable Economy; an NYU-Poly i2e initiative

  2. US Electric Power Industry Net Generation, 2008 Sources: U.S. Energy Information Administration, Form EIA-923, "Power Plant Operations Report.”

  3. Mission • Grow an ecosystem of entrepreneurs, innovative local startups and international companies • Identify solutions to climate and energy issues in dense, urban environments • Create jobs, wealth and revenue growth in NYC • Leverage NYC demand, markets, and talent • Provide opportunities for academic engagement

  4. Business Support Services • Coordination with market adopters + policymakers • Streamlined access to incentives/programs • Tech. design, development, deployment • Subsidized faculty mentors and student interns • Capital planning & financial operations • Access to venture funding for growth • Local network of experts & mentors • ‘Virtual’ membership opportunities

  5. Existing Partners • NYSERDA • NYCEDC • NYC Investment Fund • NYU • Columbia University • Pratt Institute

  6. Strategy • Anchor a physical and virtual community of cleantech entrepreneurs at 160 Varick Street in downtown Manhattan and throughout NYC • Build an ‘ecosystem’; tenants sharing space/knowledge, virtual tenants linked through intranet, connected to other partners in shared objectives Sectors of focus as defined by New York City Investment Fund

  7. Historical Clean Tech Investment Breakdown (Seed Stage Only) 2004-2009: • Data provided by Thomson Reuters; includes a sample of seed stage VC investments below $1mm 1/1/2004 to 6/18/2009. Total number of investments in the sample is 27.

  8. Higher Returns - Less Cost Why does the incubator model work? (Making the most of available capital + minimizing risk) • U.S. Dept. of Commerce EDA Jan. 2009: “Incubators provide up to 20 times more jobs than community infrastructure projects (e.g., water and sewer) at a cost of $144 to $216 per job compared with $2,920 to $6,872 for the latter” • 87% of all firms that graduated from NBIA member incubators in 90’s still in business • 84% of graduates remained in community

  9. Tenant Selection Criteria & Metrics • Credible technology & management team • Relevant & attractive market • Potential for sustainable competitive advantage • Potential for growth, economic dev. + attractive exit opportunities (24 month residency) • Eval. Metrics: Jobs, Funding ($>500k), IP, New products or services in the market

  10. Current Tenant Portfolio

  11. ‘CleanTech Execs’ • NYSERDA: need for entrepreneurs + early-stage clean energy“C-level execs” • 25 “high-impact” individuals for first boot camp; Feb. - June • Cleantech, energy markets, management-focused curriculum • Link to NYC networking events/seminars with cleantech community

  12. Seminars & Outreach • Previous Facilitations: • Convened two panels on buildings and energy use for Climate Week NYC (2009) • Organized year-long ‘Green Finance’ series with Manhattan Chamber of Commerce (2010) • Hosted energy infrastructure forum for State Dept. Iraq CRDF program (April 2010) • Future Partnership Opportunities: • Developing mini-conf. with USAEENYC; ‘innovations in energy: policy + tech.’ • Organizing 2011 IEEE conference; ‘urban energy issues + smart grid’ • Convening NYU-Poly ECE Forums with industry

  13. P4LTS (Draft to be delivered 2011) Revenue streams under consideration: • Federal, state, city grant funding • Fortune 100 sponsorship • Tenant equity/convertible debt • Sponsored event series + newsletter ‘Goal is to be cash flow positive, visible, and durable’

  14. “America is the country of future. It is a country of beginnings, of projects, of vast designs and expectations.” - Ralph Waldo Emerson, 1844

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