Early-stage fundraising in climate or energy tech—especially in the Midwest—is notoriously tough. That’s where Evergreen Climate Innovations accelerator comes in: a nonprofit investor designed to be your first check and long-term ally. In this guide, you’ll learn how Evergreen works, their funding model, who qualifies, and how to strengthen your application to stand out. Let’s dig in. ⚡🌱
Evergreen Climate Innovations Accelerator Overview
If you’re skimming to get the essentials, here’s your quick scanner-friendly snapshot:
💼 Program Name: Evergreen Climate Innovations accelerator (formerly Clean Energy Trust)
⏳ Duration: Ongoing, with rolling applications reviewed in fall and spring investment cycles (approx. 5 months each)
🌍 Location/Format: HQ in Chicago; serves the Greater Midwest; fully remote/flexible participation
🚀 Stage Focus: Pre-seed and seed-stage climatetech startups
🧬 Industry Focus: Climate tech across mitigation, adaptation, and other environmental challenges
💸 Investment Model: $250,000 cash investment via SAFE; substantial in-kind support
📊 Equity Taken: None upfront; SAFE converts at next priced round
🗞️ Fees: Zero application or participation fees
🌟 Why It Matters:
Evergreen is a mission-driven nonprofit investor designed to catalyze early-stage climate solutions in the Midwest. They go beyond capital—offering credibility, ecosystem access, and founder-first support to unlock your next milestone. 🚀
Evergreen Climate Innovations Investment Terms
Transparency around investment terms is critical—so here’s how Evergreen accelerator actually deploys capital:
- Primary vehicle: $250,000 cash investment via a post-money SAFE note (Simple Agreement for Future Equity).
- Equity taken: None at investment—the SAFE converts in your next qualified priced round (typically Series Seed or Series A). Dilution occurs only at conversion, on negotiated founder-friendly terms.
- In-kind value: High-touch support in strategy, fundraising, commercialization, and ecosystem connections—often valued well beyond the check size.
- Fees: Evergreen charges no program, application, or participation fees.
- Board/observer role: No board seats taken for standard SAFE checks; observer rights may be requested.
- Follow-ons: Evergreen does not guarantee follow-on capital but plays an active role in helping companies raise additional funding.
Bottom line: They’re a founder-first, Midwest-focused investor offering catalytic capital with minimal dilution. Always confirm cycle-specific terms—they may evolve to reflect the market.
Benefits & Why Evergreen Climate Accelerator
Here’s why Evergreen is more than “just” an investor. As a founder, you want to know: What’s the real upside beyond the first check?
Catalytic Capital & Validation 🪙
Their $250K SAFE is often the first money in. That’s valuable, because Evergreen’s reputation gives serious market validation—new funding, partners, and press tend to follow.
Access to High-Leverage Networks 🤝
Portfolio companies get introduced to 400+ venture and impact funds, and deep relationships with innovation arms at giants like United Airlines, Allstate, Exelon, ComEd, Marquette, and Invenergy. You can shortcut years of cold doors.
1:1, Customized Strategic Support 🛠️
No cookie-cutter cohorts or canned advice. They work with you directly, helping with modeling, go-to-market, fundraising tactics, and leadership challenges—tailored to your business.
Tech, Policy, and Research Openings 🧑🔬
You’ll be hooked into major labs (Argonne, Northwestern, etc.) for cutting-edge research, IP, and technical validation. They also demystify policy and grant landscapes—major leverage in climatetech.
Credibility with Later Investors 🚦
Having Evergreen on your cap table is a strong signal that you’ve passed real commercial and technical diligence. It can de-risk and unlock future rounds with established VCs in the sector.
Peer Founder Community 🧢
You join a genuine peer group of high-caliber climate founders, not just sharing war stories, but making warm intros and helping each other past roadblocks.
Evergreen Climate Innovations Eligibility Requirements
Every founder wants to “just apply and see”—but in this case, spending time upfront to check real fit can save you heartache. Evergreen’s eligibility is well-defined for good reason:
- Startup Stage: Strictly pre-seed or seed-stage, typically pre-Series A. Should have a prototype or MVP; some traction is helpful but not always required.
- Location: Must be in—or make a real, strategic case for—connection to the Greater Midwest (IL, IN, MI, MN, OH, WI, and occasionally nearby states like IA, MO, KY, PA). Physical relocation is not required.
- Team: At least one full-time founder. The team needs both technical and business chops.
- Company Structure: Must be a registered legal entity (C-Corp or LLC, etc.), for-profit.
- Industry Fit: Your core work must directly address climate change or help adapt to its impacts. Deep technology and high climate impact are key.
Put simply: if you’re a side-hustle founder on the coast or outside of climate/energy, this isn’t the play. But if you fit, you’re in the right place. 📍
Application Process
Know before you apply—here’s the inside view on what to expect and how it flows:
1️⃣ Online Application: Start on their website. Fill out the detailed form and submit your pitch deck.
2️⃣ Initial Screening: Evergreen accelerator reviews for eligibility and fit—only those who meet all basic criteria are invited forward.
3️⃣ First-Round Interview: If you pass, expect a virtual meeting focused on your business model, team, and tech.
4️⃣ Deep Diligence: Here’s where you’ll dive into technical reviews, market sizing, financials, and customer references. Evergreen taps their Expert Network for 360-degree vetting.
5️⃣ Investment Committee: Finalists pitch to a panel of leaders and outside experts. This is serious, but supportive.
6️⃣ Decision & Funding: If accepted, you negotiate SAFE details, close the deal, and work with your new Evergreen contact to plan next steps.
Pro-tip: Take their process seriously—their diligence is deep by early-stage standards, but it also proves your company’s real world potential. 🎯
How to Get Into Evergreen Climate Innovations and Stand Out
Evergreen’s selection bar is high—they invest in 6–10 startups per cycle from hundreds of applicants. A single oversight or generic pitch will usually miss the mark. But if you know their mindset and take a strategic approach, you’ll stand out to the investment committee.
Want a real chance? Here’s how to maximize your odds:
Pro Tips to Maximize Your Chances
1. Lead with Quantified Climate Impact ♻️
Don’t just say “we help the planet.” Spell out (early, and in the deck) the specific CO₂ or GHG reduction, energy savings, or resilience impact you can deliver. Use numbers, credible models, or real pilot data.
2. Get Hyper-Specific on “Why the Midwest?” 🏙️
Even if you’re technically eligible by location, connect the dots for their team—whether it’s proximity to rust-belt manufacturers, local university labs, Midwest customers, or supply chain operations. Insert a literal slide or paragraph explaining this. No hand-waving.
3. Show Your Full-Time, Balanced Team 👩💻👨💼
Emphasize commitment: at least one full-time founder is non-negotiable. Also, highlight both the deep technical founder and the “go-to-market” or ops brain—show you’re not flying solo or lopsided.
4. Have a Tight Story & Know Your Numbers 💡
You’ll get grilled on TRL (technology readiness), market size, and business model assumptions. Practice concise, jargon-free answers. Don’t fudge data—show both ambition and grip on reality.
5. Demonstrate Initiative & Ecosystem Savvy 👋
Reach out to current or past Evergreen founders, mentors, or Expert Network volunteers—ask for feedback and mention network connections in your application. Be specific about why the Evergreen accelerator approach and partners matter for you.
How to Craft a Strong Application for Evergreen Climate Innovations Accelerator
Your application is a narrative—not a random info dump. Tell a compelling, confident story about your problem, solution, market, and WHY NOW. Yours should be direct, honest (about traction and your uncertainties), and clear enough that a busy committee can see your magic in under 3 minutes.
Know your climate metrics, and don’t overcomplicate: Favor clarity over density. If you can’t explain it simply, it’s a red flag. Vague or overblown claims, technical jargon with no context, or missing basics (like market or ask) kill applications fast.
Big Mistakes to Avoid
- Applying without a Midwest connection or clear rationale (instant “no”).
- Submitting a copy-paste, “one-size-fits-all” pitch deck.
- Providing hand-wavy climate impact (“good for the environment!”) vs. real metrics.
- Solo founder not fully committed.
- Ignoring your gaps instead of acknowledging and planning to fill them.
- Messy, typo-ridden, or poorly designed decks.
Take the application seriously—but don’t get paralyzed. Founders who communicate clearly, understand the program, and show real intent are already ahead of the pack. ✅
Portfolio & Notable Alumni
Evergreen’s track record isn’t just lip service. Their portfolio validates the rigor of their selection—and the impact their companies are making:
- Hazel Technologies: Reducing food waste with shelf-life-extending solutions for produce; raised $87M+ and scaled nationwide.
- Volexion: Developing performance-enhancing battery materials for EVs and storage; closed a strong Series A.
- All-In-Energy: Accelerating inclusive, diverse access to clean energy solutions, showing Evergreen’s commitment to broad impact.
- mobitricity: Smart charging solutions for electric vehicle fleets; lowering operating costs and grid strain.
- NETenergy: Thermal energy storage to reduce peak demand in HVAC-heavy buildings, saving customers on utilities.
- eco-Panels: Building panels for ultra-energy-efficient construction, tackling embodied energy and emissions in real estate.
These wins matter: they’re validation for you as you chase partnerships, follow-on, and next hires.
VC Partners & Ecosystem Support
Being in the Evergreen orbit is about more than money—it’s a ticket to a powerful regional (and sometimes national) network:
- Venture co-investors: Energy Impact Partners, Breakthrough Energy Ventures, Congruent Ventures, Clean Energy Ventures, Prelude Ventures, and many more.
- Corporate partners: Innovation arms from United Airlines, Allstate, Exelon, Wells Fargo, ComEd, and Invenergy, among others—these aren’t just logos; they vet, pilot, and advise.
- National labs & academic partners: Deep ties to Argonne, NREL, Northwestern, UChicago’s Polsky Center, and Marquette University.
- Government agency engagement: Illinois Clean Energy Innovation Fund, DOE relationships, and city/state climate programs.
Access like this is hard to replicate—and can move the needle on talent, pilots, grant wins, and later funding.
FAQ
❓ Do I need to relocate to Chicago or the Midwest?
No—relocation isn’t required. But you must prove a genuine strategic connection to the Midwest region.
❓ Are there fees to apply or join?
None. Evergreen never charges application or participation fees—founder-aligned funding is their model.
❓ How much equity do they take, and on what terms?
The $250K investment is via a SAFE note; no equity upfront. Conversion terms (valuation cap/discount) are negotiated on a case-by-case basis, set at competitive, founder-friendly levels.
❓ Do I need traction or paying customers?
Some traction or validation helps, but it’s not always required—compelling tech and climate impact matter more at pre-seed/seed than revenue.
❓ Is this a cohort or demo-day accelerator?
No. Evergreen is a fund; there are no fixed cohorts or scheduled demo days. Support is personalized and ongoing—driven by your needs, not a preset calendar.
❓ What is the 501vc® model, and why does it matter?
It’s Evergreen’s trademarked non-profit VC approach: they’re mission-aligned, measure success by impact (not just return), and recycle exits/follow-ons back into new investments, not to profit LPs.
Final Thoughts Evergreen Climate Accelerator
If you’re building an early-stage climatetech company in the Midwest—and want more than just a generic check—Evergreen Climate Innovations accelerator should be on your shortlist. Their founder-friendly structure, deep network, hands-on support, and real sector alumni put them among the top catalytic investors in this region. The application bar is high, but fair—clear ambition and regional fit will set you apart.
