Navigate boasts more than $2 billion in funding
The numbers from NECEC Navigate's Investor Corporate Customer Connect (ICCC) program speak for themselves. Since 2016, the biannual event has helped 329 startups raise more than $2 billion in funding, and they've gone on create more than 4,330 jobs. Simply put, the ICCC has proven to be a launch pad for late stage startups that are ready to go to market and prove themselves.
"What happens at the ICCC is a serious exchange between these brilliant, innovative startups that want to change the world and investors looking to find the wave of disruptive companies that promise a big future," said NECEC Vice President for Innovation & Partnerships Alistair Pim. "Out of that we've seen some really astounding success. It's a proven model, and that's why investors keep coming back to each new round, because they know our track record of bringing groundbreaking new ventures to the table."
ICCC’s model is simple. The event brings together two key stakeholder groups. First there are climate tech startups, affiliated with incubators and accelerators located across North America. Next there are investment professionals, from angels to impact funds and corporate strategics actively looking for deal flow, along with those aiming to invest, partner, acquire or act as a customer to test out new solutions.
With each new edition, the ICCC builds upon that success. Some of the key pieces fueling that change include the following:
- Strategics: Traditional energy corporates and utilities are creating, expanding and reinventing their venture arms to disrupt themselves and the market. Examples include BMW i Ventures, Dow and Schneider Electric.
- Funding sources: New investment firms and family offices are being created to focus on companies led by women or minorities or companies developing technologies with a serious impact on carbon emissions. State agencies such as NYSERDA, MassCEC, and Commerce RI have grants, funds, and co-investment funds in place. And financial institutions that previously focused on traditional banking, such as BNP Paribas, are now at the forefront of sustainability and innovation through their own funds created to support early-stage companies.
- Startup Incubators and Accelerators: In many cases, these are the organizations that work on a daily basis with the entrepreneurs to get them ready to market. Their growing networks, mentoring programs, and tailored approaches are all helping drive this change.
However, it is what happens after the event that matters more - the follow up meetings and the hand-in-hand work these organizations do together. That's where 65% of the 2,294 connections made during the first seven year of the ICCC have resulted in follow up actions. Navigate’s role is to make sure both groups remain connected and to provide additional introductions when applicable. Contact NECEC Navigate Director Magdalena Wilk at firstname.lastname@example.org if you want to be part of the ICCC.