The State of Clean Tech and Venture Finance in Washington Research by Jon Prentice 1enterpriseSeattle | September 10, 2010
Today’s Agenda Clean Tech Challenges for WA Methodology & Research Findings Recommendations Remarks by Congressman Inslee Questions and Discussion 2enterpriseSeattle | September 10, 2010
Clean Tech Challenges for WA Widespread belief that WA is and should be a leader in the development and financing of clean technologies. 3enterpriseSeattle | September 10, 2010
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 4enterpriseSeattle | September 10, 2010
Slow Growth for WA Clean Tech Source: Cleantech Group 5enterpriseSeattle | September 10, 2010
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 6enterpriseSeattle | September 10, 2010
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 7enterpriseSeattle | September 10, 2010
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 8enterpriseSeattle | September 10, 2010
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 9enterpriseSeattle | September 10, 2010
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? 10enterpriseSeattle | September 10, 2010
Questions? 11enterpriseSeattle | September 10, 2010