Chloe Capital, Cornell University Partner for Diversity In ClimateTech Program
Chloe Capital and Cornell University are joining forces to support underrepresented founders combating climate change.
Diversity In ClimateTech is a new program to recruit, educate, inspire and support the growth of companies led by Black, Indigenous, and People of Color (BIPOC) and women founders at the forefront of clean energy innovation.
According to The U.S. VC Female Founders Dashboard by Pitchbook, companies with female founders only receive 1.3% of the billions in venture capital invested yearly across the U.S. Yet studies such as The New Face of a Founder, a report developed by Black Women Talk Tech, uncovers Black women as the next billion-dollar founders.
“The Black women tech founders surveyed in the Talk Tech report represent $5 trillion in global market value,” noted Elisa Miller-Out, Managing Partner of Chloe Capital. “What’s more, they’re building businesses in some of the fastest-growing industries for startups, including clean energy.”
Chloe Capital is a venture capital firm that invests with a gender and diversity lens. The firm also partners with universities, foundations and corporations to host programs that catalyze fundraising efforts for women and BIPOC entrepreneurs. On average, program participants raise $1.5M in funding.
Chloe Capital’s next program, Diversity In ClimateTech, is in partnership with Cornell’s Center for Regional Economic Advancement (CREA), and supported by the New York State Energy Research and Development Authority (NYSERDA) through the Accelerate Southern Tier program.
Katie MacDonald, NYSERDA’s Assistant Director, Technology to Market said, “We know that women and diverse founders bring unique ideas and strategies to the table when it comes to commercializing climate technologies and that we need those perspectives to meet the State’s nation-leading climate goals. This program will offer support that helps them overcome unique challenges and prepares them to bring their products to market.”
Diversity In ClimateTech is designed to support the capitalization efforts of diverse entrepreneurs, culminating with a pitch event this Fall in Ithaca, New York. “In addition to Chloe Capital making an investment in at least one high-growth, women-led climate tech company, the program will open the door to the firm’s global network of investors, corporations and institutions,” said Myneco Ramirez, Chloe Capital’s Chief Experience Officer.
Chloe Capital is now seeking diverse founders of seed-stage climate tech companies. Founders can be based anywhere in the world; however, all companies must have at least one woman on the leadership team to receive funding. Innovations that reduce greenhouse gas emissions, support the decarbonization of the economy, and broadly reduce energy consumption are candidates. Founders can submit applications at ChloeCapital.com/ClimateTech.
Investors and founders can also learn more about at an information session on Thursday, May 13, 2021 from 11 a.m. to 12 p.m. ET. Register at ChloeCapitalRecruiting4ClimateTech.eventbrite.com.
Chloe Capital’s partnership with CREA will also support founders with idea-stage and pre-seed technology companies by introducing them to resources in New York’s clean energy ecosystem within the Southern Tier.
“Cornell’s team at CREA will identify and recruit diverse innovators and provide them with training and early-stage entrepreneurship skills, including customer discovery, business idea validation, and IP generation,” said Andrea Ippolito, W.E. Cornell program director.
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