gener8tor Awarded $13.4M to Launch Great Lakes Innovation Accelerator
Accelerator will support startups developing water technologies that strengthen regional industries
Chicago, Il. – gener8tor, a global venture firm and startup accelerator, has been awarded $13.4 million from the Department of Commerce and National Oceanic and Atmospheric Administration (NOAA) to launch the Great Lakes Innovation Accelerator. This initiative will support startups developing innovative water technologies that enhance economic opportunities and strengthen coastal infrastructure across the Great Lakes region. This award is part of a larger, $54.3 million opportunity through the Ocean-Based Climate Resilience Accelerators program. More information can be found here.
The Great Lakes Innovation Accelerator will invest in 60 startups over four years, providing each with $100,000 in non-dilutive funding. Participating companies will receive intensive mentorship, access to specialized testing facilities, and connections to major industry partners throughout the region.
"The Great Lakes represent both an economic engine and an irreplaceable environmental resource for our nation," said Ryan Jeffery, senior managing director of sustainability at gener8tor. “The Great Lakes region alone generates over $3 trillion in GDP and employs over 25 million people. By investing in innovative startups developing critical new water technologies through this accelerator, we can boost GDP, create new jobs, and protect this essential freshwater system that sustains our industries, communities and ecosystems."
The program will be led by Soham Dalal, Managing Director at gener8tor, who previously led gener8tor’s Carbon Removal Accelerator, funded by the Department of Energy. Dalal brings both technical expertise as an electrical engineer and proven experience supporting hard-tech startups through commercialization. His background working with utilities and managing technology-focused accelerator programs aligns perfectly with the program's mission to drive innovation and economic impact across the Great Lakes region.
The accelerator also brings together key regional partners, including the Great Lakes Observing System, the Northern Michigan Blue Tech Hub Consortium, Cleveland Water Alliance, Council of the Great Lakes Region, and the University of Illinois System, among dozens of other venture funds, corporations, non-profits and universities. Through these partnerships, startups will gain access to specialized testing facilities across the Great Lakes, direct connections to major industrial customers, technical validation from leading research institutions, and support from regional economic development organizations.
"This program represents a significant investment in both economic development and water resource protection in a critical region of our country," said Carl Gouldman, director of NOAA's U.S. Integrated Ocean Observing System Office. "Supporting small business innovation in water technology will help create jobs while strengthening the resilience of Great Lakes communities and industries."
gener8tor has a proven track record of supporting small business growth, having helped create over 14,000 jobs across the country. The Great Lakes Innovation Accelerator will build on this success by focusing specifically on water technologies that benefit regional industries while enhancing coastal resilience in the Great Lakes region.
Applications are open for the first cohort, which will kick off in early 2025. Startups developing innovative water technologies that support Great Lakes industries and communities are encouraged to apply. For more information, visit gener8tor.com/greatlakes.
About gener8tor
gener8tor is a global venture firm and accelerator network that supports startups, workers, employers, artists and musicians across race, place and gender. gener8tor partners with companies, governments, universities and nonprofits to operate accelerator programs and conferences in more than 45 communities across 25 states and three countries. Fast Company named gener8tor one of the Best Workplaces for Innovators in 2021 and 2022. The International Trade Council recognized gener8tor as the Global Venture Capital Firm of the Year in 2022.