RIT Clean Energy Incubator (CEI)

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21 nov. 2013 (il y a 3 années et 11 mois)

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RIT Clean Energy Incubator (CEI)

NYSERDA BIA PRESENTATION


June 10, 2010

RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

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RIT’s Clean Energy Incubator

2


CEI Mission


Create living
-
wage, clean tech jobs in Western New York


CEI/NYSERDA Strategy


Integrate business (VCI) and technical (CIMS) development to:



Remove barriers


Accelerate commercialization



RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

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CEI Objectives

3

1.
To validate and provide CEI orientation to 20 companies over 48
months.


2.
To enable the development of 8 technology plans in 48 months.


3.
To enable the development of 8 business plans in 48 months.


4.
To help foster angel investments in at 4 enterprises over 48 months.


5.
To help enable the launch of four product/service introductions over
48 months.


6.
To lead to the “graduation” of 6 enterprises from CEI over 48 months.




Objectives

RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

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CEI Sales Funnel

4



Identified


1


Contacted


4


Developing


2


Reviewing


8


Validating


0


Selected


8


Withdrew


17


Not Eligible


5


Not Valid


1


TOTAL


46


RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

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Barriers

5



Lack of project management discipline


Lack of real performance data


Lack of legal services


Lack of money


Lack of focus


Lack of standard processes


Lack of fundraising skills


Lack of customer input


Operating on university time


Lack of recruiting skills


RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

6

Sales Performance

6


Objective:

To validate and provide orientation to 20


companies over 48 months (5/year)


Results:

8 have already been approved and 1
-
2


more are expected in 3
rd

Quarter


Pending:

10 in Developing and Reviewing





RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

7

Business Plan Performance

7


Objective:

To enable the development of 8 business


plans over 48 months


Results:

Business Plans have been completed for


5 of the approved companies.


RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

8

Fundraising Performance

8


Objective:

To help foster angel investment in 4



companies over 48 months


Results:

$1.4M in seed funding has been raised for


SweetWater Energy


Pending:

We expect at least one additional CEI


company to receive substantial seed



funding in the next quarter.

RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

9

Student Engagement Performance

9


Objective:

To provide experiential learning in



entrepreneurship


Results:

Five different student programs are



currently active


Pending:

Expansion of this program continues



(This is our competitive edge!)


RIT Clean Energy Incubator | Venture Creations, 125 Tech Park Drive, Rochester, NY 14623

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CEI Companies

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SWEETWATER ENERGY


Produces cellulosic ethanol

LIBAN


Improves fuel efficiency on diesel trucks

RNY Solar


Produces high
-
efficiency solar PV units

MSWS


Treats Marcellus Shale “frak” water

LakeMaster


Produces algae feedstock for biodiesel

Tenrehte


Produces smart grid monitors

Palantiri


Allows smart grid to communicate

AWR


Produces diffuser augmented wind turbines