Local Business Schools to Boost Green Business Accelerator

Business schools from San Diego’s four major universities have formed an alliance designed to foster the growth of new “green” innovation businesses in the region.

As the San Diego Entrepreneurship Alliance, the schools will provide guidance and support for CleanVenture, Inc., a newly formed nonprofit 501(c)(3) business incubator.

The University of San Diego School of Business Administration, the Rady School of Management at the University of California, San Diego, and the Colleges of Business Administration at San Diego State University and California State University, San Marcos,  will assist CleanVenture in “hatching” new firms to provide products and services that reduce greenhouse gas emissions, conserve natural resources and boost the region’s economy with thousands of new “green-collar” jobs over the next ten years.

“We’re excited that these major universities have joined our efforts to accelerate the growth of clean, high technology businesses,” said T. Todd Elvins, president and CEO of CleanVenture. “With their business and management expertise, they can play a vital role in commercializing new technologies and speeding the process of bringing new products and services to the fast-growing cleantech market.” 

The incubator’s first start-ups should be underway by the end of the year. “The cleantech market potential is enormous and we see great opportunities for new cleantech firms to develop solutions to the region’s most critical needs in areas such as transportation, water conservation and reclamation, energy independence, and our transition to a clean energy economy,” said USD School of Business Administration Dean David Pyke.

Rady School of Management Dean Robert Sullivan said he sees “the partnership as potentially providing an immersion learning experience for students who might work with nascent businesses on a number of fronts - from technology assessment to business development.”

The partnership “is a terrific opportunity for new firms to gain access to the latest research and best practices while providing student, alumni and faculty with valuable real-world and entrepreneurial experience,” said San Diego State University College of Business Dean Gail Naughton.

“By pursuing this mission, our students can help CleanVenture stimulate the region’s economy and establish San Diego as a leader in the ‘green’ industrial revolution,” said Cal State San Marcos College of Business Administration Dean Dennis Guseman.

The National Business Incubation Association (NBIA) estimates that in 2006 alone, North American business incubators assisted more than 27,000 start-up companies that provided full-time employment for more than 100,000 workers and generated annual revenue of more than $17 billion. NBIA member statistics found that:

  • 87 percent of all firms that have graduated from an incubator are still in business today.
  • 84 percent of incubator graduates stayed in their communities.
  • Every 50 jobs created by an incubator participant generates approximately 25 additional jobs in the community.
  • Business incubators create jobs at a cost of approximately $1,100 each, compared to other publicly supported job creation mechanisms that often cost ten times that amount.

About CleanVenture
CleanVenture's mission is to nurture high-potential early-stage CleanTech businesses to the point where they can mature on their own into successful enterprises. CleanVenture helps startup businesses to define products, develop business plans, construct skilled management teams, attract funding, accelerate timelines, and significantly reduce risk. CleanVenture is a member of NBIA and the San Diego Innovation Hub. For more information go to www.cleanventure.org.

About the University of San Diego

The University of San Diego sets the standard for an engaged, contemporary Catholic university where innovative Changemakers confront humanity’s urgent challenges. With more than 9,000 students from 69 countries and 50 states, USD is the youngest independent institution on the U.S. News & World Report list of top 100 universities in the United States. The university's eight academic divisions include the College of Arts and Sciences, the School of Business, the Shiley-Marcos School of Engineering, the School of Law, the School of Leadership and Education Sciences, the Hahn School of Nursing and Health Science, the Joan B. Kroc School of Peace Studies, and the Division of Professional and Continuing Education. USD's Envisioning 2024 strategic plan capitalizes on the university’s recent progress and aligns new strategic goals with current strengths to help shape a vision for the future as the university looks ahead to its 75th anniversary in the year 2024.