Wells Fargo & Co. has announced a multiregional investment in the Cleantech Open, a business-plan competition that encourages the development of clean technology companies and innovation. The investment marks the first multiregional sponsorship covering five regions in the history of the competition.
Last year, Wells Fargo introduced its National Cleantech group – a division of the company's commercial banking group dedicated to supporting clean technology companies. The group provides customized commercial banking products and services to businesses that manufacture, market or develop clean technologies such as wind and solar, energy and water efficiency, electric and low-emission vehicles, and smart grid applications.
The Cleantech Open has helped connect entrepreneurs with the expertise, talent, and funding needed to create successful, sustainable businesses.
Participants in the Cleantech Open benefit from a blend of mentoring, business-school class training, and an opportunity to win $30,000 in funding and in-kind donations on a regional level, as well as compete for a national grand prize.
SOURCE: Wells Fargo & Co.