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The State of Clean Tech and Venture Finance in Washington

The State of Clean Tech and Venture Finance in Washington. Research by Jon Prentice. Today’s Agenda . Clean Tech Challenges for WA Methodology & Research Findings Recommendations Remarks by Congressman Inslee Questions and Discussion. Clean Tech Challenges for WA.

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The State of Clean Tech and Venture Finance in Washington

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  1. The State of Clean Tech and Venture Finance in Washington Research by Jon Prentice enterpriseSeattle | September 10, 2010

  2. Today’s Agenda • Clean Tech Challenges for WA • Methodology & Research • Findings • Recommendations • Remarks by Congressman Inslee • Questions and Discussion enterpriseSeattle | September 10, 2010

  3. Clean Tech Challenges for WA Widespread belief that WA is and should be a leader in the development and financing of clean technologies. enterpriseSeattle | September 10, 2010

  4. WA Clean Tech: Leader or Laggard? On per dollar basis, WA accounts for only 1% of clean tech investment (as of Q2 2010) This puts WA behind states such as: • Oregon • Hawaii • Vermont • Texas • North Carolina enterpriseSeattle | September 10, 2010

  5. Slow Growth for WA Clean Tech Source: Cleantech Group enterpriseSeattle | September 10, 2010

  6. Goals & Methodology • Goal: to evaluate state of clean tech and venture finance in WA and prepare recommendations for improving investment picture • Findings collected from 35 in-depth interviews with local investors and individuals in related fields enterpriseSeattle | September 10, 2010

  7. Findings • 94% expect clean tech to grow • 73% believe clean tech is a longer-term & more capital intensive investment • 80% view clean tech as risky • 66% believe WA to be behind • 91% believe government should pursue policies that shape market enterpriseSeattle | September 10, 2010

  8. Barriers to Growth in WA Clean Tech • Smaller market relative to CA, MA • Cheap, surplus hydropower • Lack of leadership and policies at state level • Fragmentation & lack of coordination among public utilities • VC community geared toward software, Internet & life sciences enterpriseSeattle | September 10, 2010

  9. Recommendations • Identify & leverage competitive advantages • IT • Agricultural biotech • Hydro/tidal • Etc. • Study what other states/provinces are doing • Explore ways more investment capital can be directed locally • Continue to promote clean tech enterpriseSeattle | September 10, 2010

  10. Looking Forward Clean tech still at very early stages • Significant economic opportunity for WA with the right ecosystem Is the problem a lack of investors or a lack of investment opportunities, or both? enterpriseSeattle | September 10, 2010

  11. Questions? enterpriseSeattle | September 10, 2010

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