The C100, an organization representing accomplished Canadian entrepreneurs, investors, and executives in the Silicon Valley for cross-border collaboration officially launched their newest initiative on Thursday for Cleantech, lead by Jonathan Quick who says that there’s over seven billion dollars in capital available for the industry.
The opportunity for Canada is to lead globally as many of the industries in cleantech don’t currently have "leadership", and thus haven't been able to create a “billion dollar” cleantech company, using the 95/5 model as most Canadian companies already do. That’s because Quick stresses that in cleantech companies must think of themselves as global, and there's no more of a multicultural place than Canada to make it all happen.
Quick hopes this is the start of something great, and quoted recent successes like the University of British Columbia developing the cheapest wastewater process, and the fact that Ontario has the most smart meter deployments of anywhere in the world.
The C100 says they are focused on continuing to grow and connect with technology leaders in 2012 as they have in the past 18 months. While they’ve done 5000 hours of informal mentoring, they’ve also allowed for the exchange of $267 million dollars in cross-border venture funding, $223 million dollars in deals with C100 members, and have funded $388 million dollars worth of investments in entrepreneurs engaging with the C100 with $17 billion dollars in active venture funds under management.
Quick further added that there has been a limited scope in which companies have approached Green IT and thus asked the question of how leaders will push these companies at a pace they won’t like, at a pace of rapid change, innovation and the market due to the modest entrepreneurial attitudes that currently exist in Canada.
Scott Annan, a 48hrs participant and the founder of Network Hippo thinks the C100 can change this: “Canadians have a reputation for being moderate and unambitious. The high quality of the C100 members has shown that this isn’t the case- and they’re pulling the rest of Canadian startups up with them”.
The event comes on the heels of the Global Cleantech 100 report that was released at the SDTC conference a week prior that listed three Canadian companies, up from two a year ago.
The companies include:
1. Nexterra (Biofuels & Biomaterials)- company develops, manufacturers, and delivers gasification systems to self-generate clean, low cost heat and power at industrial and institutional facilities using waste fuels.
2. Ostara Nutrient Recovery Technologies (Water & Wastewater)- company sells fertilizer it removes and collects from municipality water waste.
3. FilterBoxx (Waste & Wastewater)- company is a supplier of containerized water treatment systems to industrial, municipal, resort and aboriginal clients.
Only Ostara was a recipient of the Deloitte 2011 Canadian Technology Green Awards, although Nexterra did receive that distinction in 2010. Here are the other fourteen green tech award winners.
Will the C100 allow Canada to answer the call and become the world leader in cleantech, especially in the area of clean natural resource extraction?
Only time will tell, because they’ll have to do it without much help from the government as I outlined in a recent post, but perhaps cuts are justified considering that the C100 has stepped in.