This fall, several companies from the energy efficiency, agriculture, and construction sectors in three countries are being recognized as prime candidates for venture capital investment. The companies are being announced as finalists for New Ventures – a series of green-business accelerators sponsored by the World Resources Institute (WRI).
The first event was held in Mexico on October 18, with upcoming competitions slated for November 11 in Shanghai, China and November 29 in Sao Paulo, Brazil.
"We are seeking access to China's innovative technologies and entrepreneurs; the New Ventures forum is a place for us to do that," said Catherine Cao, a partner at Tsinghua Venture Capital Fund. "Through the selection and mentoring process, they ensure a pipeline of quality companies with high growth potential."
Many of the entrepreneurs that will be at the November 11 forum in Shanghai offer products and services aimed at improving energy efficiency, particularly relevant in light of the Chinese government’s efforts to reduce its dependency on fuel imports.
These companies include Yunnan Zhenghong Environmental Protection Energy Conservation, which manufactures energy-saving ovens that increase fuel efficiency by up to 40 percent, and Nanning Growing Power Tech, which manufactures energy-efficient small-scale boilers. Another company, Beijing Daxing Heat, holds nearly 20 patents for a movable heat recycling and shipping machine that collects waste heat from energy-intensive industries and transfers it to nearby commercial properties. Inner Mongolia Huaqi Biotechnology uses methane-capture technology to recycle the energy created from animal waste into a source of energy for farmers.
New Ventures provides all of its finalists with professional business consulting. Since 1999, New Ventures has hosted nine investor forums that have facilitated investments of more than $12 million to several sustainable businesses. The forums began only in Latin America, but have since expanded to include China. In 2006, New Ventures will hold its first investor forums in India and Indonesia.
