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Apply now for Climate Change Investment Initiative (2c2i)

The Exelon Foundation is currently accepting applications for its Climate Change Investment Initiative (2c2i).

Donor Name: Exelon Foundation

State: Selected States

City: Selected Cities

Type of Grant: Grant

Deadline: 09/15/2023

Size of the Grant: Up to $300,000

Details:

The Climate Change Investment Initiative (2c2i) is a 10-year, $20 million, joint commitment between Exelon Corporation and its philanthropic arm, Exelon Foundation, to invest in and cultivate innovative start-ups focused on advancing climate change mitigation, adaptation and resiliency efforts, while also promoting social equality and economic prosperity, in Exelon’s service
territories. These service territories include Chicago, IL; Philadelphia, PA; Baltimore, MD; Washington D.C.; Atlantic City, NJ and Wilmington, DE.

Through the combined resources of Exelon Foundation ($10 million equity investment commitment) and Exelon Corporation (up to $10 million in-kind service commitment), 2c2i supports innovative start-ups that catalyze solutions to climate change challenges within Exelon’s major market areas, while advancing social equality and economic prosperity.

Upon selection, 2c2i start-ups realize a number of benefits to accelerate their ventures while delivering real-world impact. These benefits include:

  • A minimum of $100,000 equity investment from Exelon Foundation
  • In-kind services from Exelon Corporation. These services may include but may not be limited to:
    • Brokering of relationships between the start-ups and key organizations/ stakeholders in Exelon territories that can support the start-up’s activity and mission
    • Subject matter expertise-based guidance and advice
    • Business plan review and guidance
    • Networking opportunities with other 2c2i ventures and alumni
    • Exposure to external sources of follow-on capital
    • Regulatory and financial feedback

Areas of Impact Investment

2c2i was founded to drive positive impact around every dimension of ESG investing:

  • Environmental: Advancing GHG emissions mitigation and climate change resiliency.
  • Social: Supporting economic growth and opportunity for low-income or underserved communities while promoting environmental justice and equality.
  • Governance: Supporting underrepresented women and minority founders: While 2c2i invests in start-ups with leadership teams from all backgrounds, it welcomes
    participation from and is committed to supporting start-ups that have women or minority representation among its founder or leadership teams.

2c2i measures its impact in these areas in accordance with the United Nations Sustainability Developmental Goals and IRIS+ Core Metrics and Catalogue of Metrics.

Under its Environmental mandate, 2C2i supports start-ups addressing the following areas:

  • Mitigation
    • Greenhouse Gas Emissions Reduction Building Energy Efficiency Improvement
      Industrial Process Energy Innovation Renewable Energy Growth Electrification of Transportation
  • Resilience & Adaptation
    • Integrate Climate Change Effects into Planning Enhance Flood Mitigation Improve Stormwater Management Respond to Increasing Temperatures

Under these broad themes, 2c2i invests in start-ups that operate across the functional areas:

  • Water
  • Waste
  • Transport
  • Food
  • Energy
  • Built Environments
  • Nature

Funding Information

The minimum individual investment amount can range up to $300,000.

Eligibility Criteria

Below are the criteria’s for the Climate Change Investment Initiative:

  • Sustainability
    • The extent to which the company demonstrates a clear and measurable tie to either climate change mitigation of GHG emissions and/or adaptation to specific climate change threats in-line with the city climate goals/initiatives.
  • Exelon Territories
    • The extent to which the company is headquartered, operating in, or plans to operate in an Exelon utility market.
  • Local Community Connection
    • The extent to which the company will engage with the local community while reducing climate change impacts and/or increase community resilience.
  • Environmental & Social Justice
    • The extent to which the company addresses climate change needs with a focus on environmental and social justice populations, including designated disadvantaged and underserved communities
  • Minority and/or Women
    • The extent to which the company leadership team is comprised of women and/or minorities and/or intentional efforts toward or plans around workforce diversity and inclusion of disadvantaged communities (i.e. minorities, women, ex-offenders, etc.) exist and are made explicit.
  • Product
    • The extent to which the company has an innovative product/service or solution with a clear and differentiated value proposition.
  • Market
    • The extent to which there is a big clearly defined market that creates the opportunity for large impact and returns. (i.e. Megatons of carbon mitigated)
  • Team
    • The extent to which the company has a strong leadership team capable of and committed to executing the company’s vision.
  • Traction
    • The extent to which the company has customers, funding, and/or other indicators inspiring confidence in their ability to achieve stated business plans/goals and can execute on impact initiative with community stakeholders.
  • Stage Alignment with 2c2i
    • The extent to which the company is at an early enough stage where 2c2i financial and in-kind services investment is meaningful.

For more information, visit Exelon Foundation.

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