MaRS and the Los Angeles Cleantech Incubator announce partnership to support high-impact companies developing energy and water solutions
LOS ANGELES, November 3, 2015 — MaRS Cleantech, a division of MaRS Discovery District, and the Los Angeles Cleantech Incubator (LACI) are pleased to announce an international collaboration aimed at increasing the adoption of clean technologies.
The partnership will connect the innovation hubs to serve shared objectives, including bringing innovative solutions to market, mobilizing and increasing access to investment capital, and driving job creation.
“We’re delighted to announce this collaboration between hubs in Toronto and Los Angeles during Ontario Premier Kathleen Wynne’s visit to California,” said Dr. Ilse Treurnicht, CEO, MaRS. “Partnering with LACI will create opportunities for innovative cleantech companies in Canada and California to collaborate and grow globally.”
“We are thrilled to be entering into this co-operation agreement with one of Canada’s premier innovation institutions,” said Fred Walti, CEO, LACI. “Both LACI and MaRS are dedicated to helping cleantech innovators get their ideas to market — no matter where in the world that market is. This is an exciting example of the best kind of collaboration between two technology leaders and important trading partners.”
The agreement signed between the Los Angeles Cleantech Incubator and MaRS Cleantech will strengthen work across several joint programs to advance innovation in cleantech globally, including the development of a reciprocal “Landing Pad” program to assist companies in entering Canadian and California markets. This will enable cleantech entrepreneurs to access programming, networks and platforms in both jurisdictions.
In addition, the partnership will involve collaboration on joint projects such as the development of LACI’s Network for Global Innovation, which provides assistance in accelerating market entry for cleantech companies, access to customers and investors, and shared commercialization best practices.
About MaRS Cleantech:
MaRS Cleantech works closely with entrepreneurs and investors to build globally competitive companies that are creating solutions for smart cities and addressing key challenges in energy, water, agri-tech, advanced materials and manufacturing. The industry looks to MaRS Cleantech to help grow high-impact businesses by connecting innovators, potential partners, customers, investors, talent and capital. MaRS Cleantech comprises three main entities — Venture Services and its network of advisors; ArcTern Ventures, a $30-million privately funded venture fund; and the Advanced Energy Centre, whose team facilitates commercialization and drives exports. Together they offer a one-stop shop for industry stakeholders. MaRS Cleantech is part of MaRS Discovery District, one of the world’s largest urban innovation hubs, supporting a new generation of makers and innovators.
LACI is a nonprofit formed at the behest of the City of Los Angeles in October 2011 to build a world-class cleantech innovation hub and to accelerate LA’s green economy. To date, LACI has helped 40 companies raise $60M in investment capital, which has delivered more than $150M in long-term economic value for the City of Los Angeles. LACI was ranked the #6 incubator globally by the UBI Index of over 800 incubators and was selected by the DOE as their California Cleantech Incubator. During the past four years, we’ve gradually evolved our focus from the operation of a premier cleantech incubator in Los Angeles to the building, operating and connecting of cleantech ecosystems globally. As such, we now operate two incubators in the Los Angeles region, have two more under development in California and are working with the State of Washington and Mexico City to build out their respective ecosystems. Moreover, we host a leading international summit annually, which attracts more than 500 people from around the world.
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MaRS Discovery District