photo: Stefano Paltera/DOE
In my new Green State column on Grist (I’m stealing the above headline from Grist executive editor Russ Walker), I take a look at the state of green tech venture investing gleaned from a recent seminar at the University of California, Berkeley:
Silicon Valley is by nature an optimistic place. After all, inventing the carbon-free future and making boatloads of money along the way is fun. And even though California is slouching toward apocalyptic collapse these days, there’s always another innovation wave to ride.
So it’s always interesting to get a more-or-less unvarnished assessment of the state of green tech, as happened last week when a group of regulators, venture capitalists and entrepreneurs gathered at the University of California, Berkeley’s business school. They were there for the Cleantech Institute, one of those pricey, closed-door seminars for executives and government officials. (I was present to “facilitate.”)
The good news: Speakers reported that investors are starting to turn on the taps again when it comes to funding green tech startups.
But don’t expect a return to the halcyon days of 2008 when $4 billion poured into all manner of green technology companies. In the wake of the “Great Recession,” VCs are reassessing their investment strategies as it becomes clear that the success of their portfolios will be influenced to a large degree by government policy and incentives.
You can read the rest of the column here.