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Accelerator News | Imagine H2O is a new San Francisco-based accelerator
The Port of Seattle, Amazon, and the City of Bellevue, WA launch a new 15-week accelerator.
From San Francisco, CA:
Imagine H2O, a niche business incubator based in San Francisco, has been steadily supporting disruptive technologies in the water sector since 2009. Established in 2008, the nonprofit’s business accelerator has raised more than $1 billion in early stage funding for 115 start-ups. More than 80 percent of the firms supported by the incubator’s programs continue to operate, and some have gone on to scale up and partner with large industrial or municipal water treatment entities.
John Ikeda, Chief Mission Officer at the Water Environment Federation, describes the incubator as “a major driver for innovation in the water sector.” He says he has worked with Imagine H2O both at WEF as well as previously at the World Bank. “For entrepreneurs, access to capital, potential customers, and mentors is invaluable. As the leading accelerator for water entrepreneurs, Imagine H2O plays a key role in our sector’s innovation ecosystem,” Ikeda told Engineering News-Record for this article.
The 501(c) organization does not take an equity stake in the companies it supports, and receives support from a combination of philanthropic and public funding. Temple Fennell, Managing Partner of Clean Energy Ventures, one of the nonprofit’s donors, says his firm only supports companies and technologies that could scale up for market adoption with $30 million or less. “We have been looking at companies in the energy/water sector for several years and consider IH2O the essential source of innovative companies,” he says.
From Seattle, WA:
With full funding from the Port of Seattle and Amazon, the City of Bellevue, WA has launched a 15-week accelerator program aimed at supporting entrepreneurs and small business owners across what are described as “Eastside communities.” The program, which began at the end of September, is a collaborative effort under Startup 425, a regional initiative to expand entrepreneurship.
The first group of participants in the program includes 37 entrepreneurs, with at least five business founders from each of the partner cities.
The accelerator offers participants access to resources, educational events, networking opportunities, and connections to support services. The program is designed to provide Silicon Valley-level training to help entrepreneurs grow their businesses.
Levi Reed, the Program Coordinator and Startup 425’s resident entrepreneur, emphasized that the accelerator prioritizes business founders from underrepresented communities. “About 35 percent of the cohort consists of small business founders focused on targeting an underserved niche,” he said. “These companies are usually self-funded or take on debt to become established, making this accelerator opportunity extremely helpful.”
Interest in the program was high, with 170 entrepreneurs applying for the first cohort. Going forward, the City of Bellevue plans to expand the program’s capacity to accommodate more applicants.
