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2. Wells Fargo Innovation Incubator (IN2) is expanding to help startups overcome barriers in adopting clean energy technologies
3. The success of companies in the IN2 program has led to over $2 billion in follow-on capital, with plans to introduce a new track for deploying clean energy technologies.
The Wells Fargo Innovation Incubator (IN2) is celebrating its 10th anniversary by expanding to focus on helping cleantech startups overcome adoption barriers. Managed by the Wells Fargo Foundation and NREL, IN2 has supported 12 cohorts of startups with funding and access to experts. The program aims to accelerate the adoption of clean energy technologies by partnering startups with companies and communities looking to adopt clean energy solutions.
IN2 is evolving with a new track in 2024 to help deploy clean energy technologies by partnering startups with industry partners, including large corporations, mid-size companies, nonprofits, and government entities. The program aims to connect startups with industry players to facilitate the adoption of new clean energy technologies. The success of past IN2 startups has led to the creation of similar programs like the Shell GameChanger Accelerator and Chevron Studio.
The success of IN2 has led to over $2 billion in follow-on capital raised by portfolio companies, with a leverage rate of 101%. The program’s success has inspired partnerships with major companies like Wells Fargo to deploy clean energy technologies, showcasing the impact of NREL’s expertise and validation process. The new track for IN2 aims to address the demand side of clean energy implementation, bringing in its first cohort in fall 2024.