The Los Angeles Cleantech Incubator (LACI) is now partners with the Center for Innovation, Incubation and Entrepreneurship (CIIE) of Ahmedabad, India, working together to expand resources and market access for cleantech startups in the U.S. and India.
(San Jose, CA, September 27, 2015) Sunday marked the beginning of a new collaboration between LACI and CIIE of Ahmedabad, India. CIIE will become a Member of the Network for Global Innovation (NGIN), a group of innovation institutions working to accelerate market entry, provide access to customers/investors, share commercialization best practices, and provide network-wide technology platforms with the intent of delivering programming and funding.
“LACI is thrilled to welcome CIIE into the Network for Global Innovation family,” said Fred Walti, President and CEO of LACI.
In a signing ceremony that included Indian Prime Minister Narendra Modi and President and CEO Fred Walti of LACI, CIIE joined LACI’s Network for Global Innovation (NGIN), which brings together innovation institutions around the world aimed at accelerating the commercialization of clean technology on a global scale. Through the partnership, the two organizations have agreed to create a CIIE / LACI NGIN Landing Pad, a reciprocal program that enables entrepreneurs and innovators in the cleantech space to gain access to the California and Indian markets.
“LACI is thrilled to welcome CIIE into the Network for Global Innovation family,” said Fred Walti, President and CEO of LACI. “They are a tremendous example of an incubator with a talent for helping entrepreneurs turn ideas into innovation. We are honored to have them join the rest of our NGIN partners in Mexico, Germany, Italy, China, and Japan.”
“We are delighted to be joining hands with LACI and NGIN for collaboratively supporting Indian and US cleantech entrepreneurs,” added Kunal Upadhyay, CEO of CIIE. “India provides a huge market for application of cleantech solutions being developed by innovators across the world and NGIN is the ideal platform for them to explore entry into the Indian market.”
In addition to exchanging best practices between startup ecosystems, the collaboration will also allow early stage companies in both India and the U.S. access each organization’s network of potential investors, customers, and partners. LACI and CIIE will offer office space, mentor and advisory services, networking, and showcase opportunities to each incubator’s portfolio companies, providing the foundation for successful market expansion for cleantech entrepreneurs. To date, NGIN partners in Beijing, Berlin, Los Angeles and Boston have Landing Pad programs available to cleantech startups in the network. For more information about the Network for Global Innovation, its members, and services, visit http://www.ngin.org.
LACI is a nonprofit, public-private partnership that leverages private sector expertise and the strengths of the region to help companies successfully deliver market-ready cleantech solutions and the jobs that come with them. In a little less than 4 years, LACI has proven a successful incubation and commercialization model and established itself as a global leader among cleantech incubators. In 2013, LACI became a Southern California regional initiative and in 2014 LACI expanded it role throughout California and act as the State of California’s regional iHub.
LACI was selected as a Top 10 Global Incubator of 800 incubators by the UBI Index as the Department of Energy’s cleantech incubator in California, and as a leading small business cluster by JPMorgan Chase & Company.
LACI operates within a cluster that includes research universities, government support, capital, entrepreneurs, corporate partners, and business association leaders in order to drive the innovation economy and create green jobs. In its first 46 months, LACI has incubated 40 companies that have received over $55M in funding.
Set up under the aegis of Indian Institute of Management Ahmedabad (“IIMA”), Centre for Innovation Incubation and Entrepreneurship (CIIE) helps entrepreneurs turn ideas into viable businesses. In partnership with our mentors, corporates, development agencies, IIMA community and investors, CIIE nurtures entrepreneurs by incubating, accelerating, mentoring and funding innovative start-ups. CIIE believes that entrepreneurship has an unmatched ability to bring about disruptive change in India and engages with ventures across technology and impact areas like energy, environment, agriculture, healthcare and affordable technology. CIIE runs a cleantech focused venture fund called Infuse Ventures and is in the process of establishing the Bharat Fund.