It’s rare that a venture-backed startup in cleantech these days doesn’t have an eye on government funding opportunities via the stimulus package. As Battelle Ventures’ General Partner Kef Kasdin told us in an interview, “Why rob a bank? There’s money there Because that’s where the money is.”
But startups, for the most part, haven’t been big winners in stimulus awards so far. A123Systems, a later-stage battery startup based in Massachusetts (which went public on Thursday) snagged one of the largest grants in the first round of funds allocated under the Department of Energy’s highly competitive battery manufacturing program, but many more smaller companies didn’t make the cut, at least in that round. Kasdin thinks startups can do better.