Green-tech incubator seeks 'fast' start-ups

Greenstart is looking to act as an accelerator for green-tech start-ups that can essentially be up-and-running in about six months.

Clean-tech start-ups that think they can be nimble and quick to market may be interested in a new incubator from San Francisco.

Greenstart, whose team includes former executives from the Jumpstart Automotive Media Group, is looking to act as an accelerator for start-ups that can essentially be up-and-running in about six months.

Akin to what Y Combinator did for Web and mobile start-ups , Greenstart is looking to offer the same type of services for green-tech start-ups.

Greenstart

The company says it wants to find "fast cleantech" companies, but its application of that term is pretty broad.

"We define cleantech as businesses whose products or services either expand the use of renewable energy or reduce the use of dirty energy. This could mean clean web, renewable energy sources or distribution, energy efficiency, and other possibilities we haven't even considered -- yet. Wild and crazy ideas are welcomed and encouraged," Greenstart said in a statement.

In particular, start-ups will have to already have a prototype or be able to produce one within 45 days of receiving the seed capital. Greenstart is also looking for companies that "have a strong likelihood of producing revenues within six months."

If Greenstart chooses to do business with an applicant, that start-up will receive the $25,000 in exchange for giving a 3 percent to 10 percent common stock ownership stake in their company. In addition, the founders of the company will be put through a three-month program in San Francisco in which Greentech will offer planning services from its team mentors, seminars, meeting space, and introductions to potential investors.

The company's self-proclaimed goal is to give green-tech funding to 500 start-up companies over the next decade.

The deadline for Greenstart applicants is July 3.

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About the author

In a software-driven world, it's easy to forget about the nuts and bolts. Whether it's cars, robots, personal gadgetry or industrial machines, Candace Lombardi examines the moving parts that keep our world rotating. A journalist who divides her time between the United States and the United Kingdom, Lombardi has written about technology for the sites of The New York Times, CNET, USA Today, MSN, ZDNet, Silicon.com, and GameSpot. She is a member of the CNET Blog Network and is not a current employee of CNET.

 

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