LA Cleantech Incubator

Last updated
LA Cleantech Incubator
Company type Nonprofit, Public-Private Partnership
Industry Cleantech
Founded2011 (2011)
FounderCity of Los Angeles
Headquarters
Los Angeles, California
,
United States
Key people
Matt Petersen, President & CEO
Website laincubator.org

LA Cleantech Incubator (LACI) is the City of Los Angeles's official cleantech business incubator established to accelerate the commercialization of clean technology and job creation in the Los Angeles region. [1] LACI's staff of entrepreneurs, market specialists, and researchers combined with its 60+ mentor/advisor network provide expert advice on a full range of issues facing early to growth stage companies, including CEO coaching, financial management, business development, IP, and more. The organization is run "by entrepreneurs, for entrepreneurs" and pursues public objectives by harnessing private methods and resources. [2] In 2014, LACI was ranked by UBI Global as the Number 6 university-affiliated business incubator in the world out of 800+ incubators in 67 countries. [3]

Contents

History

LACI was founded in 2011 to empower the City of Los Angeles' primary economic strategy, which is to drive the innovation and growth of Los Angeles' green economy. LA Cleantech Incubator was funded by the CRA/LA and the LADWP for the City of Los Angeles, as well as a federal award from the Small Business Administration, and is a result of the Clean Tech Los Angeles (CTLA) alliance among the Mayor's office, the University of Southern California, the University of California at Los Angeles, the California Institute of Technology, the Art Center College of Design, the Los Angeles County Economic Development Corporation, the Los Angeles Business Council, the Los Angeles Area Chamber of Commerce, LADWP, and the CRA/LA. [4]

At LACI's official launch night, Los Angeles Mayor Antonio Villaraigosa said, "The Los Angeles Cleantech Incubator is an important investment in the future of our great city. LACI will have an important role in developing new profitable businesses and creating jobs right here in LA. With this project, we take a big leap forward, toward a stronger and more sustainable economy that will help distinguish LA as a center of innovation and prosperity." [5]

Company

LACI is located in Los Angeles' emerging Cleantech Corridor in the Arts District of downtown Los Angeles. Situated in a four mile long strip between the Los Angeles River and Alameda in the eastern part of downtown, the Cleantech Corridor is the cornerstone of the city's green economy strategy. [6] Startups apply to become an LACI Portfolio Company online through a process that includes an analysis of the applicant's business model, interviewing the management team, reviewing financials, and checking references.

In August 2023, LACI received a $1.5 million Community Project Funding grant from the Department of Housing and Urban Development (HUD). With this, it will help install public charging infrastructure for electric freight trucks going between the Port of Los Angeles and other distribution centers. [7]

In its first 10 years, it helped 340 clean technology startups raise almost $680 million. [8]

Strategic Imperative

LACI's Strategic Imperative is to move "the country off of its dependence on foreign fuels...California has already put its stake in the ground with AB 32, requiring all utilities to get 33% of their energy from renewable sources by 2020. And Los Angeles is ahead of every major city by achieving almost 20% of its energy from renewable resources by 2010. The new strategic imperative is to focus the private and public sectors on the processes and technologies regarding the sustainable consumption of our natural resources." [9]

La Kretz Innovation Campus

The La Kretz Innovation Campus is a cleantech center for cleantech innovation and commercialization activities [10] opened on October 7, 2016. [11] The 3.2-acre campus includes a 61,000 square-foot warehouse [12] that hosts a variety of cleantech companies and municipal bodies, [13] as well as a research and development facility and a work force training center. [14] LACI moved its operations into the La Kretz Innovation Campus upon completion of construction. The building is an adaptive reuse of an old warehouse and was designed by John Friedman Alice Kimm Architects. [15]


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References

  1. ↑ "Green LA Plan". Los Angeles Mayor's Office. May 2007. Archived from the original on 14 June 2012. Retrieved 5 March 2012.
  2. ↑ "Services « Los Angeles CleanTech Incubator (LACI)". laincubator.org. Archived from the original on 2011-10-13.
  3. ↑ "LACI Ranked as Top 10 Global Incubator | LA Cleantech Incubator". laincubator.org. Archived from the original on 2015-02-15.
  4. ↑ "LA to Launch Cleantech Incubator". socaltech.com. 10 October 2011. Archived from the original on 17 January 2012. Retrieved 5 March 2012.
  5. ↑ "Los Angeles Cleantech Incubator Officially Launches". PR Newswire. 10 October 2011. Retrieved 6 March 2012.
  6. ↑ "LA City Officials Launch First Clean Tech Incubator Downtown". Southern California Public Radio. 11 October 2012. Retrieved 5 March 2012.
  7. ↑ "Los Angeles Cleantech Incubator (LACI) Receives $1.5 Million in Federal Funding for Truck Charging Infrastructure Project". Los Angeles Times. 2023-08-29. Retrieved 2024-09-03.
  8. ↑ "Speaker Pelosi visits LA Cleantech Incubator, touts Inflation Reduction Act". spectrumnews1.com. Retrieved 2024-09-03.
  9. ↑ "Strategic Imperative". LA Cleantech Incubator. Retrieved 5 March 2012.
  10. ↑ "L.A.'s Clean Tech Incubator: Anchoring a Greentech Cluster". The Planning Report. 15 September 2011. Retrieved 5 March 2012.
  11. ↑ "Grand Opening of the LADWP LaKretz Innovation Campus". grandopening.laci.org. Archived from the original on 2017-03-17.
  12. ↑ Vaillancourt, Ryan (28 October 2011). "The Man Behind the Cleantech Incubator". Los Angeles Downtown News. Retrieved 6 March 2012.
  13. ↑ Guzman, Richard; Regardie, Jon; Vaillancourt, Ryan (17 February 2012). "LA Kretz Innovation Campus". Los Angeles Downtown News. Retrieved 6 March 2012.
  14. ↑ "La Kretz Innovation Campus". LA Cleantech Incubator. Retrieved 6 March 2012.
  15. ↑ "La Kretz Innovation Campus".
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