Wells Fargo’s Innovation Incubator Helps Green Tech Start-Ups Reach Consumers
An innovative new product by Whisker Labs is poised to help businesses and consumers make smarter decisions about energy use, thanks in part to a financial and technology boost from Wells Fargo.
Whisker Labs’ first product to hit the market – a non-invasive, easy-to-install intelligence platform delivering real-time power usage – targets residential customers, with a version for commercial application to follow. Whisker Labs fully developed its product by participating in the Wells Fargo Innovation Incubator (IN2), which is a five-year, $10 million program designed to facilitate early-stage technologies that provide scalable solutions to reduce the energy impact of commercial buildings.
Funded by the Wells Fargo Foundation and co-administered by the National Renewable Energy Laboratory (NREL), IN2 works with universities, clean tech incubators, and accelerators to identify potential applicants. Companies selected for the program receive up to $250,000 in technical support from NREL including access to non-dilutive funding to support their participation in the program. This access to NREL’s world-class facilities and researchers help companies meet critical milestones on their path to the commercial marketplace.
In 2014, Whisker Labs was one of the first companies selected for the IN2 program. The company was acquired by one of the U.S.’s largest weather and climate networks in December 2016 after successfully testing its technology at NREL and beta testing at a Wells Fargo bank branch in Aurora, Colorado.
The Wells Fargo Innovation Incubator ultimately provided Whisker Labs’ technology access to a marketplace where it can help businesses and consumers make smarter energy use decisions.
Congratulations Wells Fargo & Company!