Together, they lave launched Diversity In ClimateTech. Diversity in ClimateTech is a new program to recruit, educate, inspire and support the growth of companies led by Black, Indigenous and People of Color (BIPOC) and women founders on the forefront of clean energy innovation.
Empowering a new generation of BIPOC founders
According to The U.S. VC Female Founders Dashboard by Pitchbook, companies with female founders only receive 1.3 percent of the billions in venture capital invested yearly across the U.S. Yet studies such as The New Face of a Founder uncover Black women as the next billion-dollar founders. The aforementioned study was developed by Black Women Tech Talk.
“The Black women tech founders surveyed in the Talk Tech report represent $5 trillion in global market value,” noted Elisa Miller-Out, Managing Partner of Chloe Capital. “What’s more, they’re building businesses in some of the fastest growing industries for startups, including clean energy.“
Funding climate tech champions
Chloe Capital is a venture capital firm that invests with a gender and diversity lens. The firm also partners with universities, foundations and corporations to host programs that catalyze fundraising efforts for women and BIPOC entrepreneurs. On average, program participants raise $1.5M in funding.
Chloe Capital’s next program, Diversity In ClimateTech, is in partnership with Cornell’s Center for Regional Economic Advancement (CREA). It is also supported by the New York State Energy Research and Development Authority (NYSERDA) through the Accelerate Southern Tier program.
Katie MacDonald, NYSERDA’s Assistant Director, Technology to Market said, “We know that women and diverse founders bring unique ideas and strategies to the table when it comes to commercializing climate technologies and that we need those perspectives to meet the State’s nation-leading climate goals. This program will offer support that helps them overcome unique challenges and prepares them to bring their products to market.”
Creating a new climate
Diversity In ClimateTech is designed to support the capitalization efforts of diverse entrepreneurs, culminating with a pitch event this Fall in Ithaca, New York. “In addition to Chloe Capital making an investment in at least one high-growth, women-led climate tech company, the program will open the door to the firm’s global network of investors, corporations and institutions,” said Myneco Ramirez, Chloe Capital’s Chief Experience Officer.
Chloe Capital is now seeking diverse founders of seed-stage climate tech companies. Founders can be based anywhere in the world; however, all companies must have at least one woman on the leadership team to receive funding. Innovations that reduce greenhouse gas emissions, support the decarbonization of the economy and broadly reduce energy consumption are candidates. Founders can submit applications at ChloeCapital.com/ClimateTech.
Investors and founders can also learn more about at an information session on Thursday, May 13, 2021. The session will run from 11 a.m. to 12 p.m. ET. Register at ChloeCapitalRecruiting4ClimateTech.eventbrite.com.
Chloe Capital’s partnership with CREA will also support founders with idea-stage and pre-seed technology companies. It will do this by introducing them to resources in New York’s clean energy ecosystem within the Southern Tier.
“Cornell’s team at CREA will identify and recruit diverse innovators and provide them with training and early-stage entrepreneurship skills, including customer discovery, business idea validation, and IP generation,“ said Andrea Ippolito, W.E. Cornell program director.
About Chloe Capital
Chloe Capital is a venture capital firm that invests in women-led technology companies. In addition to investing with a gender and diversity lens, Chloe Capital partners with universities, foundations and corporations to host programs that help catalyze fundraising efforts for underrepresented founders. This collaborative approach to early-stage investing is what makes the firm so unique. More than 15,000 people around the world have already joined Chloe Capital’s Movement to #InvestInWomen. ChloeCapital.com
Cornell’s Center for Regional Economic Advancement (CREA) fuels economic growth and diversity in Upstate New York through entrepreneurship and innovation. CREA is focused on making a measurable impact by supporting and managing a portfolio of over a dozen programs, including Rev: Ithaca Startup Works, Rev’s Hardware Accelerators, Grow-NY, UNY I-Corps, Cleantech Hardware Scaleup, and many Cornell-facing startup accelerators and fellowships. CREA.Cornell.edu