Incubation Program Overview
The Incubation Program offers hands-on incubation services for supporting cleantech startups' growth in Southern California. The first six months of the program are dedicated to intensive curriculum workshops, one on one sessions, and roundtables focused on Market and Investor Readiness. After the initial six-month period, the program is focused on achieving the objectives outlined in a custom roadmap around fundraising, product development, market access, team growth, and partnerships.
Benefits of the program include:
- Advanced curriculum with a focus on building your team, sales, and creating a strong legal foundation for business growth
- Dedicated advisory services with our Executives in Residence
- Mentorship and eligibility to receive funding for small-scale pilot deployment
- Up to $160,000 in business services and perks
- Eligibility for the LACI Impact Fund and Debt Fund to finance your growth
- Deep discounts on desk space and Advanced Prototyping Center membership at the La Kretz Innovation Campus in Downtown Los Angeles (pending the campus re-opening due to COVID).
Program length: 2 years
Program start: March 2021
Program cost: 1.5-3% equity stake in the form of a warrant with the opportunity to earn back through achieving impact milestones
- Startups must:
- Have a cleantech solution that addresses one of our three priority areas: Clean Energy, Zero Emissions Transportation and Smart & Sustainable Cities/Circular Economy.
- Own or license a novel proprietary technology.
- Have a significant presence (operations or sales) in Southern California with founder or key executive able to attend meetings, workshops and events on campus periodically (once COVID is under control and campus re-opens).
- Have at least 2 full-time employees.
- Have a working prototype (TRL 4+).
- Commit to all curriculum and mentorship opportunities during the first 6 months. This is approximately a 4-7 hour weekly commitment.
- We evaluate based on:
- Technology type, credibility and innovation.
- Investability of a startup based on their market, business model, technology, and competitive advantage.
- Environmental and community impact of the solution.
- Potential for the startup to grow their team, operations and sales in the Los Angeles region.
- Founder and team’s coachability, experience, and commitment.
- Startup’s commitment to Diversity, Equity and Inclusion.
- Overall fit of startup and team within the LACI community.