Bill Gates recently launched of the largest clean tech initiatives in recent times. Mission Innovation and the Clean Tech Initiative require 20 countries to double clean tech innovation, while investing $20 billion in new clean tech startups. (via mission-innovation)
When it seems Bill Gates has done it all, he keeps the punches rolling. His newest initiative, called the Clean Tech Initiative, seeks to enhance clean energy for all and is backed by 20 countries and some of the biggest names in business.
Climate Change is not a new realization, and yet, the population of people willing to tackle greenhouse gas emissions seems almost non-existent. Gates hopes to change all of that with his new Clean Tech Initiative – a movement that requires the collaboration of global leaders, top tier investors and innovators alike.
Gates is no fool. He knows the arch nemesis of innovation is good intention. There have been countless global movements that gain no traction due to bureaucratic deadlock. Clean Tech Initiative will to be very different in its approach to initializing change – primarily in that the wealthy equivalent of the Avengers will be funding the project.
The team is called the Breakthrough Energy Coalition and it will operate as a force, investing in high-risk, high-reward green energy technology start-ups. The team includes some of the most successful entrepreneurs to date, including Mark and Priscilla Zuckerberg of Facebook, Meg Whitman of HP, Richard Branson of Virgin Group and Jeff Bezos of Amazon – to name a few.
Unfortunately, investing in green technology often involves high risk. Since most venture capital funds are risk-averse, most great green tech ideas never get off of the ground. According to Gates, the role of the Coalition is to fund high-risk, high-reward green start-ups that focus on enhancing technology without increasing greenhouse gas emissions. A second goal is for these startups to focus efforts in more impoverished areas of the world. A third goal is to get world leaders behind the initiative.
The third goal was smashed through Mission Innovation, an initiative that specifically calls world leaders to increase clean energy investment in research and development by 100% in the next five years. Twenty countries have taken on the challenge, including The U.S., China, Saudi Arabia and India. This effort will be accomplished by enhancing information sharing so research institutions can effectively invest efforts in clean energy for all.
As for the tech startups, once risk decreases, the Coalition hopes to trade to venture capitalists, freeing some $20 billion in monetary resources to invest in other startups, and ultimately, continuing to enhance clean technology innovation.
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