Berkeley Ventures launches as incubator to invest in cleantech

5 August 2009

Berkeley Ventures has launched as a for-profit hi-tech incubator, focused on web 2.0, mobile, cleantech, software, financial services and gaming, located in Berkeley California. Unique in its approach, the Berkeley Ventures program is not limited to a fixed period of time.

One of the investor’s first portfolio companies WAPIS is developing a breakthrough approach to clean energy prospecting.

PriceWaterhouseCoopers reports that venture capital investing declined in Q2 by 51 per cent from the same quarter last year. According to Berkely Ventures, the importance of incubators was also demonstrated by an Economic Development Administration study showing that incubators are 20 times more effective at job creation than other initiatives.

‘Incubators fill an important gap by supporting seed stage companies before they are ready for venture capital funding,’ said Waverly Deutsch, Professor of Entrepreneurship at the University of Chicago Booth School of Business.

‘In this environment, incubators can eliminate some of the early stage risk prior to venture capital funding by creating solid technologies and better operational discipline,’ added Jonathan Morgan, an advisor to Berkeley Ventures, former president and CEO of First Virtual Communications.

Copyright © 2009 NewNet

Tags: cleantech, venture capital

This story was published on Wednesday, August 5th, 2009 at 1:18 pm and is filed under North America, funds. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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