The Y Combinator of cleantech — Greenstart — announced the latest batch of startups that will receive investment and guidance on Tuesday. The four startups that will enter the Greenstart program will include peer to peer bike sharing company Spinlister, energy software company People Power, energy optimization startup Root3 and PVPower, a web service for solar projects.
Each startup gets $115,000 and three months of marketing, design and business model guidance from Greenstart’s team. Previous startups that have gone through the program include the Android for battery startup GELI, and Scoot Networks, which makes an electric scooter sharing network. People Power has been around for a few years, and I’m interested to see how the Greenstart team tweaks their plans.
Earlier this year Greenstart restructured its program, and decided to focus solely on IT-based cleantech companies, and also boosted the size of its investment in the startups in its program. The pivot seemed like a good idea — early stage non-IT cleantech companies can be capital intensive to scale, can be difficult to vet without industry-specific experience, and also can take a long time to mature.