–OnGreen – World’s Largest Online Cleantech Marketplace Launches–
The beta site attracted 250 start-ups from more than 35 countries, representing $1.9B in funding opportunities. More than half of those entrepreneurs received investor inquiries, according to OnGreen’s latest surveys. The company is using its recent series A funding to provide investors with deal vetting and to expand its China marketplace.
OnGreen is backed by China Southern Hong Kong Investment Ltd. The company is headquartered in Los Angeles and has satellite offices in Shanghai and Mumbai, with plans to open offices in other locations during 2011.
“The nature of today’s global cleantech market is that innovation doesn’t always occur where capital is available,” says OnGreen CEO Nikhil R. Jain. “As a global platform, OnGreen overcomes the physical separation between innovation, capital and expertise and helps speed the time from idea to commercialization.”
The OnGreen platform is divided into three key areas:
Deal Marketplace – Where entrepreneurs seek funding for their cleantech businesses and investors make use of the search and filter capabilities to streamline dealflow. The site already hosts some 250 companies from 35 countries seeking a combined $1.9 billion.
Patent Exchange – Where inventors and companies post their intellectual property for sale or licensing and allow outside investors and enabling service providers to review them. The site already hosts more than 150 cleantech related patents from sources including USC.
Expert Community – Where business and technology experts promote their expertise, collaborate with their peers, engage in opportunity evaluations, share due diligence and make themselves available for mentoring, contract work or even employment.
As part of the company’s strategy to bridge cleantech professionals and investors from around the world, OnGreen has partnered with the University of Michigan and Joint US-China Collaboration on Clean Energy (JUCCCE). The project OnGreen is spearheading will entail working with Chinese companies to invest in University R&D and patents in exchange for which they would acquire joint rights to the associated intellectual property.
According to JUCCCE’s Co-Founder Peggy Liu, “China has a gap between their desire to save energy and reduce pollution, and their capability to go green as fast as they are building.” She adds, “This joint research project would not only bring positive trade flow into the U .S. from China and create jobs, but also potentially help the U.S. bypass historic patent infringement issues in China.”
To kick off the official launch, OnGreen hosted a VIP launch event in Los Angeles featuring private equity firms, media, non-profits, utilities, policy makers, venture capitalists and members of academia.
Connect with the world’s leading cleantech investors at www.ongreen.com.
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