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Thread started 06/12/17 3:30pm

lwr001

Meet the green energy startups that Prince had a hand in

https://tech.co/startups-princes-green-tech-accelerator-2017-06#.WT7QzlFrbPA.twitter

June 12, 2017

12:20 pm

A little more than a year ago, the world lost one of its most talented and influential musicians. Prince was an icon in so many different senses, changing the way people look at everything from fashion to the guitar. And while many will remember him for his music, there are a few in the tech community that will remember the genius behind Purple Rain for something else: protecting the environment.

Before his untimely death, Prince funded a green tech accelerator/incubator program with $250,000 he presumably had just lying around somewhere. With help from Van Jones, a CNN commentator and California human rights advocate, Prince effectively invested in dozens of startups working towards a more renewable future.

‘‘He asked, ‘If I have a quarter-million dollars, what can I do with it?’ ’’ said Jones in an interview. ‘‘My wife said he should put solar panels all over Oakland.’’

With a grant from Prince serving as capital for loans that would help several small businesses go solar, Jones brought in Billy Parish, founder and chief executive officer of Mosaic, then a crowdfunding loan provider. Van introduced Parish to Emily Kirsch, a green jobs campaigner at the Ella Baker Center for Human Rights, a non-profit that Jones cofounded. Kirsch worked with Mosaic on its first four projects then had the idea to make money helping young companies.

That led to the creation of Powerhouse, a rare for-profit incubator dedicated to putting green tech entrepreneurs together with investors. The company has helped 43 startups get on their feet in an era when venture capital funding for renewables has plunged and the political climate is far from supportive of the movement.

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