Garage Technology Ventures matching cleantech startups with backers
Joyce Chung, managing partner at Garage Technology Ventures, has been working on a new program that matches corporate backers and cleantech startups.
Joyce Chung, a managing director at Garage Technology Ventures, has been working recent months on the Los Altos firm's new program of matching cleantech startups with corporate backers.
Chung's background includes more than 10 years in technology companies and 15 years of venture capital investing. She was previously a founding partner of Cardinal Venture Capital, a $125 million early stage venture fund, and managing venture investments for Adobe Ventures.
The Silicon Valley Business Journal talked with Chung about the landscape.
The negative effects from Solyndra's collapse seem to continue, don't they?
I think that is true for financially oriented investors who have largely abandoned the sector. Not 100 percent. There is still definitely some investment activity going on. But I think the cleantech sector did experience somewhat of a bubble that burst and now we are dealing with the aftermath.
I think there are still options for early stage entrepreneurs. I think what you are seeing is a lot of folks being very creative and scrappy. There are a lot of grants that are available, Department of Energy grants and others that you can get for proving out your technology.
Even states and local municipalities are doing things where they have certain initiatives in the cleantech area. So you have to figure out if there are grants in the state and local level that work with the area that you are interested in. There are a lot of business plan competitions that are out there still where you can get a little visibility. There is a little bit of award money.
There is still an ecosystem but it does require a lot of perseverance and scrappiness to make your way through.
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