Climate Capital has invested in 300+ climate startups since 2015. CC Insights shares what we are learning about the early stage climate tech ecosystem. Co-invest with us here.
Michael & Jenny here this week, sharing a really exciting update on what we’ve been building at Climate Capital Bio.Â
Biotech has the potential to solve some of the largest and most difficult problems of decarbonization and sustainability in the world’s largest industries. Projections place the value of the biotech industry between $20 trillion1 and $100 trillion2 within the next two decades.Â
However, the venture capital industry that funds the startups working in this field is very difficult to access for female founders and founders of color, with only 2.3% of venture funding going to women-led startups in 2020, down from 2.8% in 20193. The figures for Black and Latinx founders are similarly discouraging, representing only 2.4% of total U.S. venture capital raised from 2015-20204.
What does this mean? The bioclimate space is going to grow - dramatically - and traditional investment behaviors are doing a poor job reaching potential breakthrough founders (likely due to affinity bias).Â
Announcing the Climate Capital Bio Incubator
Climate Capital Bio is doing something about that! We are thrilled to announce that we have received a significant award from the US Department of Commerce to build the Climate Capital Bio Incubator (CCBI) 🎉Â
CCBI will be an early stage incubator for biotech companies working on building climate solutions for food, ag, manufacturing, chemical synthesis, and industry. CCBI will be led by the Climate Capital Bio team, focused on serving female founders and people of color who may not have access to capital, networks, and/or familiarity with entrepreneurship and will be free for all participants who are accepted. The first cohort will go ‘live’ in 2024.Â
Our goal is to create a more diverse, equitable, and inclusive bioeconomy that benefits everyone. By working to improve representation at the early stages of the industry, we hope to create a ripple effect that will extend for decades to come. We will work with partner organizations to implement a curriculum focused on helping entrepreneurs learn the skills necessary to be great founders, access networks of capital, and connect with potential mentors, partners, and employees.
The incubator program will take place annually and will be delivered virtually each year over 3 months, culminating in a fundraising focused in-person ‘demo day’ event for program graduates. After graduation, companies will retain access to resources for hiring, mentorship, dilutive and non-dilutive capital networks and other program resources. The Climate Capital Bio fund will have the opportunity to invest in breakout graduates of the program.Â
If you’d like to learn more about participating in the incubator, partnering with us (as mentor, investor, ecosystem partner etc), or sponsorship, let us know!
We’re hiring!
We are currently in the process of hiring a lead to manage the day-to-day running of the incubator. If you are interested in learning more about the role, click here for the Program Director job description. If you know someone who might be a good fit, please forward them this email.Â