VertueLab Washington: Scaling Climate Tech Innovation and Entrepreneurship

Summary

A presentation titled VertueLab Washington: Scaling Climate Tech Innovation and Entrepreneurship, dated December 2022. The slides set out VertueLab's mission and vision, the pain points it identifies in funding for early-stage climate tech startups, and its proposed services in catalytic capital, innovation and frontline community impact. They state that a partnership with Oregon has enabled $8 million in funding to 60 companies and that VertueLab has helped companies secure $17 million in federal R&D funding. The deck describes a frontline strategy for rural, BIPOC, LMI and immigrant communities. It states that VertueLab seeks $4 million in Washington state support for 2023-25 to expand its programs and federal fundraising capacity.

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VertueLab
Washington
Grow and auiapect Washington's diverse
community of climate tech innovators and

entrepreneurs to feach the State's climate goals
and grow an equitable economy.

December 2022 Vani otae
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Mission & Core Purpose Yygspiiin
To unleash innovation and ed) / i} /
entrepreneurship that will solve On, ff )/
environmental challenges and catalyze “7 “
shared economic prosperity. SLL
Vision I

The Pacific Northwest region will be a hub
for developing and deploying innovative
and equitable solutions that address the
causes and impacts of the climate crisis.
The Pain Points and Our Solution

Pain Points Our Solution

The Climate Crisis is rapidly

advancing — solutions are not Catalyze Innovation &

Funding for early-stage Entrepreneurship
climate tech startups is still

scarce — promising solutions

are at risk

The system, and investors in Caray are

particular, overlook
entrepreneurs who are people

of color or women :
Catalyze Frontline

Impacted frontline Impact
communities aren't benefitting
from solutions

VertuéLab
Washington Opportunities

Turn climate policy vision (e.g. CCA) into reality

Funding for early-stage technologies before they are ready for the
Clean Energy Fund. Decade+ of experience raising and investing
catalytic capital: the only combination climate tech accelerator / impact
fund in the PNW.

University tech commercialization support: Leveraging federal
programs from NSF, EDA, and DOE.

Connective tissue between Washington's climate-adjacent programs,
plus strong connections to our national ecosystem of climate tech
accelerators, investors, and research labs.

Increase BIPOC, rural, and frontline access to technology solutions
and federal funding. Leveraging our relationships / connections and
track record of Federal funding.

Entrepreneur support for early-stage entrepreneurs, including
underserved entrepreneurs; growing awareness and participation among
frontline community members.

Necessary Services for Success

CATALYZE INNOVATION CATALYTIC CAPITAL CATALYZE FRONTLINE
AND ENTREPRENEURSHIP IMPACT
Return on Investment

Long-time partnership with Oregon has enabled
$8 million in funding to 60 companies who have
secured nearly $600 million in follow-on
investment and are creating significant climate
impact

VertueLab has secured 15 federal grants for its
own operations and has helped dozens of
companies secure $17 million in federal R&D

funding

Trillions of dollars of federal funding will be
deployed for climate solutions in the coming
years (IIJA, CHIPS, and IRA are three significant
sources). Securing and putting the funding to
work requires infrastructure at state/local level.

Track Record

Expansion would scale and accelerate existing activities

15 years of experience partnering with a state to deliver strong
economic development impact and outcomes in climate/clean
energy

Secured millions of federal dollars for state-supported climate
tech-based economic development - much of which was not
specifically intended for climate impact - lots of opportunities
with upcoming IIJA and CHIPS funding

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CleanTech Accelerator Innovation
¢ ‘year of federal funding Network

assistance for startups
* Over a decade of deep

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partnerships VertueLab
seme oCaling Up in Washington

* Global climate solutions start here —
: 7% of global GHG reduction targets
a) depend on innovation and
advancement of new technologies*

¢ Innovative solutions are deployed in
and by frontline communities

¢ Gigaton-scale emission reduction
potential from Climate Impact Fund
investments in WA

¢ Public and private funding working
together to fund a just transition

* VertueLab analysis based on WA
Project Drawdown information. Ve rt Ue ze b
,
The roots of climate change and racism were cultivated in
extractive economies and inequitable practices

Frontline communities are the first and worst impacted by
climate change - Rural, BIPOC, LMI, and immigrants

People closest to the problem often have innovative
solutions, but don’t have the capital or connections to fund
and launch their innovations.

Frontline Strategy: Deployment today of innovative
technologies in places hit first and worst by climate crisis;
Ensure that those same communities have opportunities to
build wealth through developing solutions and
entrepreneurship

VL programs to build awareness and then direct support of
this effort

VertuéLab
Workshop Series Kickoff
26 October, 2022 | 4:00 PM -5:30 PM

Online or In-Person at PBDG Training Center, Portland

Hosted by:
S&S Community
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&sustainasiity Codlition PROSPER
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VertueLab seeks $4 million in Washington

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aT ‘ ., , state support for 2023-25 to scale and
“ ef ; accelerate VertueLab Washington's robust
| # climate innovation & entrepreneurship

programs and federal fundraising capacity to
help Washington achieve its climate goals.

a

Program and support staff

Program funding: internships, frontline
community org capacity building grants,
accelerator program prototype grants, university
commercialization grants

Vertue
Expansion of VertueLab Washington

FILL GAPS RETURN ON INVESTMENT TRACK RECORD
Vertue

Green Technologies for Good
We will demonstrate how innovative capital and services
provided to emerging and/or underserved innovators and climate solutions adopters
will not only help Washington achieve its climate goals, but capture a once-in=a=
generation opportunity to create lasting economic opportunity in the region.

Leveraging Our Expanding Network

VertueLab partners with an established network of
innovation centers & downstream investors.

Leveraging our connections with:

« Research universities

¢« National laboratories

¢ Incubators/accelerators
* National peers

* Downstream investors

Pacific Northwest —_ id
eee i Breakthrough ;
° * Energy ventures
PROJECT oil 2) E 8

DRAWDOWN incubatenergyaamm

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