Monday, November 4, 2013
Los Angeles Cleantech Incubator Gets $200,000 Grant, Eyes Investment Fund
The incubator effort looking to make Los Angeles a key part of the clean technology industry, the Los Angeles Cleantech Incubator (LACI), announced this morning that it has received a $200,000 grant from the JPMorgan Chase Foundation, to help advance its program--and may even start its own investment fund. The incubator said the grant will help fund programs focused on advancing sustainable technology development and adoption in the Los Angeles region. The incubator--which launched in 2011>--said it has now incubated 25 companies here, who have collectively received $24M in investments. As part of the new grant, the LACI said it is specifically looking to create a new early-stage funding fund called the Innovation Fund, to provide funding to start-ups.