Companies eligible for GCCA's Later Stage Awards have a proven track record - they have a validated technology, a growing customer base and revenues. To apply for the award, companies must be members of a cleantech cluster that is a member of GCCA and nominated by the cluster. In this way, clusters increase their membership and all member companies gain more benefits - building their networks, potential partnership and mentorship opportunities.
Cluster Benefits to Later Stage Companies
"It's not just emerging companies that gain benefits from cleantech clusters, membership is advantageous to later stage companies as well. Cluster companies get early information on new technologies, can more readily take advantage of partnership opportunities, give back as mentors, receive assistance by industry mentors/consultants and also expand their cleantech network.
As Patrick Burtis, Bob Epstein, and Roland Hwang write in the report, "Creating Cleantech Clusters," companies in a cluster compete against one another, but they also share key resources. It's the sharing of these resources that brings companies together, and in turn fosters efficiency, effectiveness and collaboration, which leads to faster innovation.
"The presence of a cluster may also reassure investors," the report continues. "As a cluster of successful businesses in an industry emerges, investors tend to gain confidence in placing money with new start-ups in that sector."
Cleantech clusters are fast becoming the life-force behind developments and innovations in cleantech. Until the recent advent of the GCCA, international collaboration was limited by a scarcity of resources and a lack of strategic alliances. The GCCA is combating this challenge by making global exposure, communication and collaboration for clusters and their companies, faster, more efficient and affordable.
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Global Cleantech Cluster Association
Shawn Lesser is co-founder of the GCCA and is president and founder of Atlanta-based Sustainable World Capital, which fund-raises for private equity cleantech funds, companies and M&A.
