FAQ
Energy Excelerator | Lightning Excelerator | Pacific Excelerator | Funding
What is the Energy Excelerator?
The Energy Excelerator is a dual pathway program consisting of:
1) a one-week Lightning Excelerator program to support startup companies with potential follow-on funding up to $90,000; and
2) a Pacific Excelerator program to drive adoption of innovative technology within Hawaii by co-funding technology demonstration projects up to $1,000,000.
1) a one-week Lightning Excelerator program to support startup companies with potential follow-on funding up to $90,000; and
2) a Pacific Excelerator program to drive adoption of innovative technology within Hawaii by co-funding technology demonstration projects up to $1,000,000.
Both pathways are scheduled to start accepting applications in Summer 2013.
How can I find out about opportunities?
Follow @Energy_Excel on Twitter for updates from inside the Energy Excelerator and join the Energy Excelerator LinkedIn group to connect with us on the topics of energy and entrepreneurship. Join our email list to be the first to know when we start accepting applications.
Who is PICHTR?
The Pacific International Center for High Technology Research (PICHTR) is a Hawaii-based non-profit that has been a catalyst for technology development since 1983. Current programs cover disaster preparedness, conservation, and defense and dual-use technologies – in addition to clean energy. Our energy programs include the Energy Excelerator and the Hawaii Renewable Energy Development Venture (HREDV).
Who are our partners?
We have a strong network of partners ranging from venture capital firms and law firms to electric utilities and state government. For the Energy Excelerator, one of our partners is Blue Startups, an accelerator with similar goals to the Energy Excelerator (but companies are selected and funded separately). Many of the Energy Excelerator training, networking opportunities, and Demo Days jointly held with Blue Startups. Another of our key partners is Nest GSV, a California accelerator where Energy Excelerator companies spend a capstone week before the Silicon Valley demo day. Our funding comes primarily from U.S. Department of Energy and the Office of Naval Research within the U.S. Department of the Navy.
Why is Hawaii ideal for clean energy?
Hawaii is ideal for clean energy because of its diverse set of assets:
- Need for alternative energy sources – driven by electricity prices upward of 30 cents/kWh
- Strong policy framework – highest renewable energy portfolio standard in the U.S.
- Excellent conditions for test bed projects – with high percentage of renewables already integrated into island grids
- Gateway to the Asia Pacific region
What is the Lightning Excelerator?
The Lightning Excelerator is one path of the Energy Excelerator. Early-stage, clean energy companies are selected to participate in a full and fast-paced week of connecting with clean energy experts, hands-on workshops, and customer interviews based in Hawaii, followed by a 12-week period of one-on-one mentoring. Lightning Excelerator companies have the opportunity for follow-up funding up to $100,000 to executive short-term strategies.
Who should apply?
Any company with an innovative clean energy technology can apply. Companies are encouraged to have a working prototype of their technology (Technology Readiness Level 2-6) before applying.
Who is involved?
Lightning Excelerator mentors include clean energy professionals with a range of expertise; from technology development to financial expertise to strategy and more. The Energy Excelerator team is also made up of individuals with many years of experience in clean energy and entrepreneurship in Hawaii and abroad.
What is expected if I'm accepted?
The Excelerator is 8 days long (Thursday to Thursday) and participants must be present for the entirety of the program. We start around 9:00 am each day and go until about 6:00 pm, and we also include a few dinners with investors and mentors. Each day is a mix of activities – including workshops, speakers, pitch training, one-on-one time with mentors, time to “get out of the building” for customer meetings, and work time.
What is the Pacific Excelerator?
The Pacific Excelerator one path of the Energy Excelerator program. Strong companies with precommercial technologies are selected to participate in highly customized four-days of connecting with clean energy decisions makers, potential customers, and strategic partners in Hawaii, with the goal of developing a demonstration project in Hawaii or the Asia Pacific as a step toward commercialization. Pacific Excelerator companies have the opportunity for funding up to $1,000,000 to co-fund high value demonstration projects.
When is the Pacific Excelerator?
Applications for the Pacific Excelerator are scheduled to open in Summer 2013 and the 4-day program will take place in the Fall of 2013. Follow @Energy_Excel on Twitter for updates.
Who should apply?
Any companies with innovative precommercial technologies (TRL 5 to TRL 8), looking to demonstrate their technology in Hawaii and the Asia Pacific can apply.
How has PICHTR previously worked with clean energy companies to demonstrate their technologies?
PICHTR previously funded 10 clean energy demonstration projects for companies on the road to commercialization through the Hawaii Renewable Energy Development Venture (HREDV).
How does the funding work?
Funding is awarded to top performers at the conclusion of the program. Top performers may be awarded between $20,000 to $90,000 for business or technology development, in addition to a $15,000 prize awarded to one company for a market assessment, to address needs identified from participation in the Lightning Excelerator program. No funding is given out before the program commences or throughout the course of the program. Demonstration funding up to $1,000,000 may be competitively awarded to companies that complete the Pacific Excelerator.
Is any funding being provided to cover travel costs for attending the Excelerator programs?
PICHTR has chosen to provide the programs free of cost to attendees, and as such, will not be providing attendees any funding to cover travel and related expenses while attending the programs.
What is the funding source of the Energy Excelerator?
PICHTR receives federal funding to fund a majority of the program.
Since these are federal funds, what forms are required of companies that receive funding?
The forms that will be required, prior to receiving funding, are a Statement of Project Objectives, financial assurances, disclosure of lobbying activities, conflict of interest, and environmental compliance form. See our Federal Requirements page for further information. PICHTR will assist awardees in completing all required forms.
Since these are federal funds, what reporting and other requirements are expected of companies that receive funding?
Companies that are funded by PICHTR will be expected to submit deliverables as agreed to by the company and PICHTR staff. These may include business model canvas drafts, notes on mentor meetings, progress reports, and a final summary report. Companies will also attend regular meetings with PICHTR staff and mentor sessions.
Are there any limitations on the use of any funding awarded?
Companies receiving an award from PICHTR are expected to follow all federal acquisition regulations. See our Federal Requirements page for further information.
How many times can a founder or company repeat the Lightning Excelerator program and receive funding?
There is no limit on the number of times a founder or company can repeat the program, although they will have to apply for admission each time. Every applicant competing for admission will be judged based on their current business and technology status and plans. Past performance will be taken into account for applicants who have previously participated in the Lightning Excelerator and other PICHTR programs.
Applicants who repeat the program and win over $100,000 of total federal funding may be required to complete additional scope and budget forms, prior to receiving additional funding, in order to comply with federal procurement rules. PICHTR will assist awardees in completing all required forms.
Applicants who repeat the program and win over $100,000 of total federal funding may be required to complete additional scope and budget forms, prior to receiving additional funding, in order to comply with federal procurement rules. PICHTR will assist awardees in completing all required forms.
