U.S. Bank Foundation Cleantech Inclusion Award for Disadvantaged Entrepreneurs

Grant Overview

$30,000 Non-Recourse Grant for Underrepresented Cleantech Innovators

Donor: U.S. Bank Foundation, Evergreen Climate Innovations

About: The U.S. Bank Foundation Cleantech Inclusion Award represents a transformative opportunity for cleantech entrepreneurs from socially and economically disadvantaged backgrounds. This initiative directly addresses the persistent funding gap that underrepresented founders face in the cleantech sector, where historical disparities have limited access to capital, mentorship, and market opportunities.

Each year, the program selects two exceptional entrepreneurs who are building innovative companies with significant environmental impact potential. Winners receive substantial non-dilutive funding along with comprehensive business support designed to accelerate their path to market. This dual approach of financial and strategic assistance helps overcome critical barriers that often prevent promising cleantech solutions from reaching commercialization.

What sets this award apart from traditional funding mechanisms is its explicit focus on entrepreneurs from disadvantaged backgrounds who might otherwise struggle to access conventional investment channels. The program recognizes that diverse perspectives and lived experiences often lead to unique, overlooked solutions to environmental challenges. By supporting these entrepreneurs, the award not only advances individual businesses but also strengthens the entire cleantech ecosystem with fresh approaches and innovations.

The selection process evaluates candidates based on multiple factors, including technology innovation, environmental impact potential, market readiness, and the unique challenges faced by the founding team. Priority consideration goes to ventures with market-ready products or services that demonstrate potential for positive social impact, particularly in historically underserved communities where environmental and economic benefits can create compound value.

Previous recipients demonstrate the award’s transformative potential. For instance, the 2023 winner, Agriwater, is developing proprietary water treatment systems that address agricultural wastewater challenges while reducing greenhouse gas emissions. This Tennessee-based company exemplifies how targeted support for underrepresented entrepreneurs can yield technologies with significant environmental benefits for rural communities.

For entrepreneurs considering this opportunity, application preparation is crucial. Grantaura’s professional grant services can significantly enhance your prospects by helping develop compelling business plans, financial projections, and project strategies tailored specifically for cleantech funding applications. Our specialized team understands the unique evaluation criteria for environmental technology grants and can strengthen your application through expert document preparation, detailed eligibility verification, and strategic positioning of your innovation’s environmental and social impact potential.

Focus: Renewable energy, Energy efficiency, Smart buildings, Smart cities, Energy storage, Advanced transportation, Sustainable food, Sustainable agriculture, Resiliency services, Carbon mitigation, Environmental innovation, Sustainable wastewater management, Sustainable resource management

Region: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, North Carolina, North Dakota, Nebraska, Nevada, New Mexico, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming, United States

Eligibility:
-At least one founder must identify as socially and/or economically disadvantaged
-Company must be headquartered in one of the 26 eligible states
-Business must be legally incorporated as a formal entity
-Company size must be between 2-12 full-time employees
-Must not have raised more than $3 million from external investors
-Must own or have valid license to relevant intellectual property
-Preferred: Companies with market-ready products or services
-Preferred: Services that provide positive social impact for underserved communities
-Must be developing technology that mitigates harmful emissions, reduces carbon, or positively impacts the environment
-Company should be focused on cleantech sectors like renewable energy, energy efficiency, or sustainable resource management
-While not required, revenue-generating companies receive favorable consideration

Benefits:
-$30,000 non-recourse grant funding (no equity or repayment required)
-12-months of dedicated business mentorship from U.S. Bank Foundation and Evergreen Climate Innovations experts
-Increased visibility and exposure to potential investors and customers
-Networking opportunities within the cleantech ecosystem
-Recognition as an innovative leader in the sustainable technology space
-Access to professional guidance for business development and growth strategies

Deadline: Rolling Application

Terms:
-Cleantech: Technologies, products, or services that reduce negative environmental impacts through energy efficiency improvements, sustainable resource use, or environmental protection activities
-Non-recourse grant: Financial support that does not require repayment, collateral, or equity stake in the recipient’s business
-Socially disadvantaged individuals: Those who have been subjected to racial, ethnic, or cultural bias because of their identity as members of a group without regard to their individual qualities
-Economically disadvantaged individuals: Those with diminished capital and credit opportunities compared to others in the same business area who are not economically disadvantaged
-Intellectual property (IP): Legal rights that result from intellectual activity in industrial, scientific, literary, and artistic fields
-Evergreen Climate Innovations: Formerly known as Clean Energy Trust, an organization that provides capital and support to early-stage cleantech startups in the Greater Midwest region
-Carbon mitigation: Actions or technologies that reduce carbon dioxide and other greenhouse gas emissions or enhance their removal from the atmosphere