Chicago, IL (PRWEB) February 11, 2016
Energy Foundry was announced as one of eight Seed Fund Support grant awardees under the Economic Development Administration’s (EDA) 2015 Regional Innovation Strategies (RIS) program. These funds will establish programs that expand the pool of available capital that is accessible for energy start-ups and technologists in the Midwest.
Energy Foundry will work directly with investors and institutions interested in the region’s growing energy innovation sector. The EDA grant will advance the energy related acumen of seed-stage and angel investors in the Midwest. It will also engage the business community in a new commercialization platform unlocking additional capital, accelerating time-to-market for energy start-ups, and enriching the overall energy ecosystem.
The 2015 RIS program is managed by EDA’s Office of Innovation and Entrepreneurship (OIE) and is designed to advance innovation and capacity-building activities in regions across the country.
ABOUT ENERGY FOUNDRY
Energy Foundry invests venture capital to build groundbreaking energy start-ups. Their approach merges investment capital with the perks of strategic partnership, and includes an arsenal of essential tools and relationships to help bring great ideas to market. With the backdrop of Illinois’ billion-dollar grid modernization efforts, their investment model is designed to reduce risk and accelerate speed to market for the most promising grid and energy ideas.