{"id":763157,"date":"2023-06-12T16:38:09","date_gmt":"2023-06-12T20:38:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/climate-change-investment-initiative-paves-the-way-for-innovation-in-philadelphia\/"},"modified":"2023-06-12T16:38:09","modified_gmt":"2023-06-12T20:38:09","slug":"climate-change-investment-initiative-paves-the-way-for-innovation-in-philadelphia","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/climate-change-investment-initiative-paves-the-way-for-innovation-in-philadelphia\/","title":{"rendered":"Climate Change Investment Initiative Paves the Way for Innovation in Philadelphia"},"content":{"rendered":"

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Climate Change Investment Initiative Paves the Way for Innovation in Philadelphia<\/b><\/p>\n

Startups Can Apply Now Through September 15 to Receive Hundreds of Thousands of Dollars from the Exelon Foundation to Pursue Inventive Climate Solutions<\/i><\/p>\n

CHICAGO–(BUSINESS WIRE<\/a>)–
\nStartups whose products, services or technologies are focused on fighting climate change, and improving the quality of life for residents of the Philadelphia region and beyond, are encouraged to apply for an equity investment from 2c2i (Climate Change Investment Initiative), a joint effort of the Exelon Foundation and Exelon Corporation (Nasdaq: EXC).<\/p>\n

\nEach year, Exelon provides equity investments to startups whose work benefits residents of a region served by the company. In addition to the Exelon Foundation\u2019s $10 million financial investment over a 10-year period, Exelon Corporation invests up to $10 million of in-kind support, including mentoring entrepreneurs on ways to access other sources of capital, structure business plans, allocate financial resources and meet regulatory requirements. In the last two years alone, 2c2i companies have gone on to raise more than $100M in follow-on investments, in turn making a measurable impact on their communities.<\/p>\n

\n“Climate change requires us to take bold, collective action,\u201d said Sunny Elebua, Exelon\u2019s Chief Strategy and Sustainability Officer. \u201cThe 2c2i program is a key component of Exelon\u2019s commitment to addressing climate change in the communities most affected, which are often also the most underserved. This program supports community-based companies that are developing solutions and creating long-term economic opportunities, improving the quality of life for thousands. We\u2019re looking forward to partnering with even more innovators with the zeal to have a lasting impact on generations to come.\u201d<\/p>\n

\nTo qualify for 2c2i consideration, startups must be doing work that will benefit one or more of Exelon\u2019s six major markets \u2013 Atlantic City, Baltimore, Chicago, Philadelphia, Washington, D.C., and Wilmington, Del. Their work must have the potential to do one of the following:<\/p>\n