PROGRAM
ABOUTWhat areas of Cleantech does Greenstart invest in?
We look for companies at the intersection of Cleantech + IT. This is a multi trillion (yes, with a T) dollar market and is absolutely critical if we’re going to meet the global energy challenge. We’ve identified four core areas that we are very excited about - (i) Smart Grid, (ii) Smart/Efficient Buildings, (iii) Consumer Behavior/Services, and (iv) Electric Transportation - but we’re open to all wild and crazy ideas at the intersection of Cleantech + IT. If you’re doing something amazing that expands the use of clean energy or reduces the use of dirty energy, and it has an IT component, let us know!
What stage of startup makes the most sense for Greenstart?
Our favorite startups live somewhere between friends-and-family money and an angel round. While some may be at the “idea on a napkin stage,” most likely they’ve been at it for a little while and have some initial traction: a beta or prototype that is getting a great reaction, a technical breakthrough, or maybe even a few paying customers. We prefer multiple co-founders, at least one founder with technical skills, and bonus points if a designer is part of the founding team.
How much funding do Greenstart companies receive?
You get a $15,000 seed investment in your company. In addition, you are offered a $100,000 convertible debt note by a group of leading investors immediately upon acceptance into Greenstart. So the total that you can receive is $115,000. In exchange for the program and the seed funding, Greenstart receives 5% common stock. We do not take a board seat or ask for any decision-making rights. It’s your company and we’re here to help you be as successful as possible. Our interests are completely aligned.
How long is the Accelerator Program?
Each program is 12 weeks long with 3 weeks of expected preparation before the program starts.
What are the Program Dates?
We offer two programs per year: Spring and Fall. Our Spring 2012 Program begins February 13, and our Fall 2012 Program begins August 13.
What sort of control am I giving up by selling equity to Greenstart?
None. Greenstart will be a small minority partner, and we don't want any special rights or controlling interests in your company. We won't ask for a board seat, either. You run the show.
Are multiple co-founders preferred?
Yes. While we won’t immediately reject a company just because it has a single founder, it does make things more difficult. We look for well-balanced teams that have a full range of skills, including software development and design. We encourage you to seek co-founders or team members who balance your strengths.
Do I need to send in a business plan?
No. Just complete the online application.
Do I have to be in San Francisco for the entire 12-week program?
Greenstart is a big commitment, and we expect you to be in the San Francisco area for most of the program. Otherwise you can’t take full advantage of the mentoring, learning, and networking we offer. But be where you need to be. If you have important customer meetings, conferences, etc., you should be there. Our flexible schedule will accommodate.
Can I work from the Greenstart office?
Yep, that’s part of the awesome Greenstart deal! We have a great loft right in downtown San Francisco with open collaboration space and a number of private meeting rooms, but we understand that a few of our founders will choose to work from their apartments, local coffee shops, or even their own offices. It’s up to you.
Do I have to stay in San Francisco after the program ends?
No. It's your company, so start it wherever makes sense. With that in mind, San Francisco and the entire Silicon Valley is the number one place in the world to be a startup, with incredible access to resources, capital, and startup expertise.
Where will we live while we're there?
That's up to you - we don't provide accommodations as part of the program. We heard this guy named Craig started a list somewhere?
Can I apply if I'm not from the United States?
No, at this time we are only accepting US companies. But check back because we hope to open this up to companies from outside the US soon.
Is Greenstart a for-profit or non-profit?
Greenstart is a for-profit company, but we rock a hardcore mission like many of our non-profit friends do. We want to help solve the energy crisis.
Does Greenstart offer internships?
Yes. During each Spring and Fall Program, Greenstart takes on a small, talented band of ninjas (whom we call Seasonal Associates) to help with everything from marketing to video production to application support to program support to operations. Sorry, college students - your summer breaks fall directly during a quieter period for us, so we don’t offer summer internships. Greenstart’s past Seasonal Associates have been young professionals looking to break into cleantech or VC, recent graduate students, and actual black-belt ninjas. If you’re hungry, a U.S. Citizen, and your timeline works with ours, shoot an email to interns at greenstart dot com.
