Everything to know before you apply

Thank you for your interest in applying to Elemental Excelerator. The information below is meant to inform you about our application process and help you submit a competitive application.

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energy accelerator startup participants outside in hawaii

Which track is right for you?

What are the deal points?

We provide a grant up to

$1 millionUSD

with an average award amount of $500,000.

  • Companies issue a 1-2% equity donation

What are the program elements?

The program engagement is focused around a transformational project deployment. There are two key components to most demonstration projects that we’ve funded:

  • Technology development – to build out a new strategic feature or enhancement that will get your solution to the next level
  • New customers or partners – who enable you to demonstrate a new market, or commercial opportunity that will help you grow faster

Geography

Project Deployments in Hawaii and Asia Pacific.

What are we looking for?

In addition to our Go-to-Market Track requirements, we look for:

  • Growing businesses with a scalable business model
  • Multiple customer deployments or pilots
  • Appetite for expansion
  • A demonstration project concept that is high-impact and in line with your core business strategy

With a preference for applicants with…

  • Significant revenue
  • 3+ months of runway
  • A growing team that can support multiple project deployments
  • Raising a Series A and beyond
  • More developed demonstration projects with partners/customers already committed

What does the average company look like?

Stage

Seed to Series B

Team size

17

Revenue

$850,000

Capital Raised

$10,300,000

What are the deal points?

We provide a SAFE up to

$1 millionUSD

with an average award amount of $500,000.

  • We have the right to purchase shares in a future round at a pre-negotiated discount (industry standard is 20%).

What are the program elements?

The program engagement is focused around a transformational project deployment specifically within California’s low-to-medium income communities, where there is a compelling opportunity to increase access to innovation. The track is designed with two principles in mind:

  • Equity In – through diverse hiring, workforce development, inclusion and retention, and responsible supply chain
  • Equity Out – through equitable and affordable access to products, economic benefits to communities, and strong community partnerships

Geography

Project deployments in California’s frontline communities

What are we looking for?

In addition to our Go-to-Market Track requirements, we look for:

  • Growing businesses with a scalable business model
  • Multiple customer deployments or pilots
  • Appetite for expansion
  • A demonstration project concept that is high-impact and in line with your core business strategy

With a preference for applicants with…

  • Significant revenue
  • 3+ months of runway
  • A growing team that can support multiple project deployments
  • Raising a Series A and beyond
  • More developed demonstration projects with partners/customers already committed

What does the average company look like?

Stage

Seed to Series C+

Team Size

28

Annual Revenue

$3,340,000

Outside Funding

$13,600,000

What are the deal points?

We provide a grant of

$200,000USD

  • Companies issue a 3-4% equity donation

What are the program elements?

We offer highly customized coaching around the following three modules:

  • Market Intelligence – validate and vet your product with customers in the market
  • Sales & Growth – set up your organization for repeatable sales
  • Operational Scale-up – develop and test your growth hypothesis

Geography

Global

What are we looking for?

For Go-to-market Track, we require:

  • 2 full-time employees
  • A minimum of an operating prototype

With a preference for startups with…

  • Revenue
  • Some outside capital raised
  • Differentiated IP
  • A strong team with relevant domain experience and key insights into the market
  • Appropriate technology approvals / certifications for operation in their focus market

What does the average company look like?

Stage

Seed to Series A

Team Size

5

Annual Revenue

$417,000

Outside Funding

$2,380,000

For our next cohort, we’re seeking technologies in these sectors:

Solutions:

  • Robotics, artificial intelligence & machine learning
  • Asset management tools 
  • Manufacturing, commercial & industrial solutions
  • Grid design & safety
  • Energy efficiency
  • Carbon sequestration & capture
  • Affordable & clean options for low-to-medium income customers
  • Democratization of energy
  • Electrification of everything
  • Tech at the nexus of other sectors
Nneka Uzoh Headshot

In 2019, we funded companies tackling everything from demand response to hyperlocal climate risk analysis to democratizing access to renewable energy. In 2020, we’re looking for companies whose innovations help us accelerate the transition to a more equitable, resilient, and sustainable and clean energy sector.

 

Nneka Uzoh, Director of Innovation - Energy

Solutions:

  • Affordable, appealing, & reliable mobility options for those most in need – super commuters, seniors & frontline communities
  • Behavior change solutions to reduce single-occupancy vehicles
  • Increased convenience, appeal & access to electric transportation
  • Reduced emissions in heavy freight, shipping, logistics, & air travel 
  • Enhanced roadway infrastructure safety, resiliency & disaster planning

Despite the recent flood of new mobility solutions entering the industry, for the most part we’re still avoiding the elephant in the room — cars. With personal vehicle ownership and overall car trips continuing to climb, GHG emissions are soaring, traffic is increasing in almost every city, and large and mostly empty vessels are polluting the frontline neighborhoods that all too often house our freeways and major roadways. We need to redirect the brainpower and investment that has come into the transportation sector to ensure that we’re on a path toward transitioning to a fully clean and equitable mobility ecosystem.

 

 

Danielle Harris, Director of Innovation - Mobility

Solutions:

  • Carbon sequestration & soil health
  • Food safety & traceability
  • Waste reduction & diversion
  • Alternative proteins
  • Technologies that reduce or combat deforestation
  • Supply chain platforms that support increased access to food, resources & land
  • Solutions that reduce energy use, toxic synthetic inputs & the overuse of water
Danya

Recent reports from the Intergovernmental Panel on Climate Change illustrate the global food systemʼs significant contribution to climate change. We seek companies whose innovations increase local food production and decrease emissions throughout the value chain, from farm to fork.

 

Danya Hakeem, Director of Innovation - Agriculture & Circular Economy

Solutions:

  • Measurement & repair
  • Emerging contaminants & newly regulated substances treatment
  • System optimization
  • Membrane related systems
  • Decentralized treatment solutions
  • Capital-efficient utility upgrades
  • Technology related to human capital
  • Data & AI-based maintenance tools
  • Safe, affordable, non-discriminatory drinking water solutions
  • Emergency preparedness
  • Conservation & water reuse solutions

Most public investment goes to centralized infrastructure, overlooking opportunities for improvement elsewhere in the water ecosystem. We prioritize technologies that take a decentralized approach, help municipalities and utilities reduce pollution, and advance solutions to provide clean water for all.

 

Kim Baker, Director of Innovation - Water

Solutions:

  • Waste-to-value solutions
  • Carbon capture & sequestration
  • Resource recovery & reuse
  • Textile & apparel recycling
  • Source reduction & data collection platforms
  • Alternative packaging & next-generation waste sorting & processing technology
  • Solutions that create high-quality, local jobs for people who live in frontline communities
  • Manufacturing companies interested in ‘Equity IN’ projects to establish diverse hiring, inclusion & retention, & responsible supply chain practices
Danya

Our existing industrial and waste systems are unsustainable and inequitable. As we aspire to redesign waste streams using new technologies and business models, we’re looking for market solutions that create value from greenhouse gas emissions and other waste products, keep products and materials in use, and regenerate natural systems.

 

 

Danya Hakeem, Director of Innovation - Agriculture & Circular Economy

We do not fund:

  • Project Developers (solar, wind, storage, etc.) selling third party products
  • Consulting firms
  • Marketing or PR agencies
  • Nonprofits
  • Acquired startups
  • Startups without a prototype 
  • Companies with fewer than two full-time team members

Ready to apply?

Know a company that would be a great fit?

Refer a Company >

Application Timeline & Next Steps

Date

Go-to-Market

Demonstration + Equity & Access

Jan. 28 – April 7

Qualifying App

This is the first step of our application process, it should take no more than 15 minutes to complete. We will ask for:

  • Company information including technology stage, funding stage, pitch deck, team information, and more.

April 1 – April 29

Round 1: Technical & Financial

At this stage in the application process, we want to learn the technical and financial details of your company. All information is treated as highly sensitive and completely confidential within Elemental Excelerator and a limited number of reviewers who sign confidentiality agreements. We will ask for:

  • Technical details including a visual of your product with a technical summary, customer list, questions about your certifications, and IP.
  • Financial details including capitalization table, balance sheets, income statement, cash flows, and financial projections.

May 8 – June 2

Round 2: Elemental Engagement

Now that we know your solution is a good fit and financially sound, we want to think through the ways in which our program will be transformational for your company. We will ask for:

  • Highest priority on your product roadmap
  • How your solution contributes to the sector goals in our places
  • How we can best help you succeed

Round 2: Project Scoping

Now that we know your solution is a good fit and financially sound, we want to learn more about your proposed project. We will ask for:

  • Project description and ideal outcome
  • Project partners and the status of their commitment to your project, such as cost-share
  • Project scope including milestones, budget, and timeline
  • For Equity & Access: How your project will incorporate at least one of our Equity In/Equity out principles

June 16 –      July 13

Interviews

In the final step of our application process, we find it incredibly valuable to meet with executive teams. This is where we get to really dig in and talk through what the engagement would look like for you and how we would work together to support our collective mission.

Interviews

In the final step of our application process, we find it incredibly valuable to meet with executive teams. We will walk through your proposed project scope and budget, and really dig into how this project will be transformational for your company.

Late July- September

Acceptances & Onboarding

October 19 – October 23

Kickoff Week in Honolulu

Go-to-Market Demonstration + Equity & Access

Jan. 28 – April 7

Qualifying App

This is the first step of our application process, it should take no more than 15 minutes to complete. We will ask for:

  • Company information including technology stage, funding stage, pitch deck, team information, and more.

April 1 – April 29

Round 1: Technical & Financial

At this stage in the application process, we want to learn the technical and financial details of your company. All information is treated as highly sensitive and completely confidential within Elemental Excelerator and a limited number of reviewers who sign confidentiality agreements. We will ask for:

  • Technical details including a visual of your product with a technical summary, customer list, questions about your certifications, and IP.
  • Financial details including capitalization table, balance sheets, income statement, cash flows, and financial projections.

May 8 – June 2

Round 2: Elemental Engagement

Now that we know your solution is a good fit and financially sound, we want to think through the ways in which our program will be transformational for your company. We will ask for:

  • Highest priority on your product roadmap
  • How your solution contributes to the sector goals in our places
  • How we can best help you succeed

June 16 –      July 13

Interviews

In the final step of our application process, we find it incredibly valuable to meet with executive teams. This is where we get to really dig in and talk through what the engagement would look like for you and how we would work together to support our collective mission.

Late July- September

Acceptances & Onboarding

October 19 – October 23

Kickoff Week in Honolulu

Jan. 28 – April 7

Qualifying App

This is the first step of our application process, it should take no more than 15 minutes to complete. We will ask for:

  • Company information including technology stage, funding stage, pitch deck, team information, and more.

April 1 – April 29

Round 1: Technical & Financial

At this stage in the application process, we want to learn the technical and financial details of your company. All information is treated as highly sensitive and completely confidential within Elemental Excelerator and a limited number of reviewers who sign confidentiality agreements. We will ask for:

  • Technical details including a visual of your product with a technical summary, customer list, questions about your certifications, and IP.
  • Financial details including capitalization table, balance sheets, income statement, cash flows, and financial projections.

May 8 – June 2

Round 2: Project Scoping

Now that we know your solution is a good fit and financially sound, we want to learn more about your proposed project. We will ask for:

  • Project description and ideal outcome
  • Project partners and the status of their commitment to your project, such as cost-share
  • Project scope including milestones, budget, and timeline
  • For Equity & Access: How your project will incorporate at least one of our Equity In/Equity out principles

June 16 –      July 13

Interviews

In the final step of our application process, we find it incredibly valuable to meet with executive teams. We will walk through your proposed project scope and budget, and really dig into how this project will be transformational for your company.

Late July- September

Acceptances & Onboarding

October 19 – October 23

Kickoff Week in Honolulu

Program Elements

Fall 2020
Winter 2021
Spring 2021
Forever
GTM
Onboarding + Contracting
GTM Programming Modules
Alumni
Demo + E&A
Onboarding + Contracting
Project Finalization; Execution; Closeout
Alumni
Program Elements
All Cohort 9 CEOs and at least one other full-time team member will be required to participate in all three "elements" for the first year of the program. After completing the program, we ask that you participate in one or two of the "elements" in the following years to continue building relationships among companies and partners, share your learnings, and seek new investment and partnership opportunities within our ecosystem.
Program Events
October
5-8

Kickoff Week
May
2021

CEO Summit
May
2021

Interactive
Kickoff Week
We'll spend the week introducing you to the Elemental team, your cohort, our partners, and the local ecosystem through workshops and facilitated discussions.

We will work on further defining the Scope of Work for your Demonstration or Equity & Access project, or achieving your Go-to-Market Track objectives.
CEO Summit
This element fosters relationships with CEOs across sectors and stages. Our goal is to foster an environment in which 100+ leadership teams can share knowledge, collaborate, and accelerate impact.

Alumni companies are encouraged to attend to create cross-cohort relationships and opportunities for collaboration.
Interactive
Interactive is our annual investor-focused event where we'll introduce you to investors, corporates, and strategic partners.

All Cohort 9 company CEOs will be given an opportunity to speak on-stage to an audience of 250+ investors and corporates.

Are you ready to join Cohort 9?

How does Elemental Evaluate companies?

Below you'll find five characteristics that we consider during due diligence and some specific advice from our team:

Advice from Ramsay: Technology

  • We want to see that you have developed a scalable solution that shows growth potential beyond your home market
  • Your technology should be validated by a third party – we don’t take technology risk
  • Demonstrate that your technology is driven by market demands

Advice from Sherrie: Team

  • We look for diversity, experienced teams, deep knowledge of your industry, and a proven track record of execution
  • We test for passion, grit, and coachability

Advice from Matt: Elemental Excelerator Fit

  • We like to see that you have partners or projects deployed in our focus areas or that you have a clear case as to why your next target market is a fit with Hawaii, California or the Asia Pacific
  • We want to see that you are at the right stage of growth and have clearly laid out how our program will be transformational for your company

Advice from Amanda: Business Model

  • We assess traction, value proposition, addressable market size, competitive landscape, revenue streams, and cost structure
  • Show us a pathway to a repeatable business model, deep knowledge of customer needs, and demonstrated customer traction
  • We like to see a strong understanding of your first, second, and scale-up markets, as well as a strategy to enter those markets

Advice from Karina: Fit in California, Hawaii, and Asia Pacific

  • Do your homework: Demonstrate knowledge of stakeholders, the policy landscape, regional customer requirements, potential barriers and appetite for your solution

Advice from Sara: Projects for Demonstration and Equity & Access Tracks

  • We are looking to fund projects that can be completed in 12-18 months, with reasonable risk factors on the implementation side
  • We are looking for projects that are sustainable and have long-term impact
  • If the implementation is successful, the partner or customer should be able to continue using the technology going forward
  • Our goal is to select Demonstration Track technologies that can scale by a minimum of 10x after completing the Elemental Excelerator program

Ready to join Elemental Excelerator?

Elemental’s team, funding, network and world-class community of entrepreneurs have been instrumental in helping us scale faster.

Cody Friesen, Founder & CEO of Zero Mass Water

We’re trying to create a world where everyone can get solar power, regardless of the income they have and regardless of what type of roof they have and I think Elemental will be a really big part in how we get there.

Steph Speirs, Co-founder & CEO of Solstice

Through Elemental Excelerator, we honed our strategy. There was one day during Kickoff Week where we spoke to 10 different functional groups within Hawaiian Electric to understand their needs. It was customer discovery on steroids

Lisa Laughner, CEO of Go Electric

We first applied for Elemental because of the cohort. If you’re in a young vertical, there are not a lot of other executives around to help you. Finding an accelerator that is specifically catered towards your vertical helps a lot.

Gideon van Dijk, Founder & CEO of Chargetrip

Applicant Webinars

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Private: Cohort 9 | Elemental Live: Designing a Demonstration Project

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Private: Cohort 9 | Elemental Live: Designing an Equity & Access Project

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Private: Cohort 9 | Elemental Live: Financial & Technical – Q&A

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Cohort 9 | Elemental Live: Fundraising Strategy & Investor Engagement

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Private: Cohort 9 | Elemental Live: Go-to-Market Track – Q&A

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Private: Cohort 9 | Elemental Live: Demonstration Track and Equity & Access Track – Q&A

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Private: Cohort 9 | Elemental Live: What it means to be a portfolio company

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Private: Cohort 9 |Elemental Live: Partner Ecosystem

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Private: Cohort 9 | Elemental Live: Investor Deck & Outreach Strategy

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Cohort 8 | Elemental Live: How to Engage Water Utilities

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Cohort 8 | Elemental Live: IP Strategy as Business Strategy