The Research Foundation for the State University of New York
TurboCharge Fund
Albany, NY
Seed Fund Support
Federal Share: $300,000.00
Local Match: $333,364.00
The Research Foundation for the State University of New York will create the TurboCharge Fund, an early stage fund focused on accelerating innovators and startup companies within the New York State (NYS) clean technology sector. New York State has set ambitious goals to deploy clean technologies as part of its Reforming the Energy Vision plan, leading to a unique environment for cleantech startups. Nonetheless, factors such as the lack of access to early stage investment capital and strategic partner relations still make it challenging for cleantech entrepreneurs to succeed. To solve these problems, the TurboCharge Fund will invest in companies that have the potential to bring impactful technology to market and become commercial successes. TurboCharge Fund will be the investment arm of SUNY’s CleanStartNY state-wide accelerator with a range of partners deeply involved in the clean energy economy. CleanStartNY will catalyze existing resources, training, networks and infrastructure to accelerate the growth of healthy, investable cleantech companies. TurboCharge Fund will invest in these same companies, continuing to mentor and grow them, build strong Boards, and target additional capital. Through our strategic partnerships, deep cleantech networks, geographic breadth, and best-in-class assets, the fund will help entrepreneurs overcome early hurdles and facilitate access to capital - leading to job creation, cleantech industry cluster growth, and broader economic impact for New York State.