Ongreen.com lastweek announced that after a successful beta run the website is nowofficially launched. According to the publishers, the beta siteattracted 250 start-ups from more than 35 countries, representing $1.9bn in funding opportunities. More than half of those entrepreneursreceived investor inquiries, a company survey found out.
The company is using its recent series A funding to provide investors with deal vetting and to expand its China marketplace.
“The nature of today’s global cleantech market is that innovationdoesn’t always occur where capital is available,” said OnGreen CEONikhil R. Jain. “As a global platform, OnGreen overcomes the physicalseparation between innovation, capital and expertise and helps speed the time from idea to commercialization.”
The OnGreen platform is divided into three key areas: DealMarketplace, where entrepreneurs seek funding for their cleantechbusinesses and investors make use of the search and filter capabilitiesto streamline deal flow; Patent Exchange, where inventors and companiespost their intellectual property for sale or licensing and allow outside investors and enabling service providers to review them; and ExpertCommunity, where business and technology experts promote theirexpertise, collaborate with their peers, engage in opportunityevaluations, share due diligence and make themselves available formentoring, contract work or even employment.
OnGreen is backed by China Southern Hong Kong Investment Ltd. Thecompany is headquartered in Los Angeles and has satellite offices inShanghai and Mumbai, with plans to open offices in other locationsduring 2011.
OnGreen has also partnered with the University of Michigan and JointUS-China Collaboration on Clean Energy (JUCCCE) as part of its strategyto bridge cleantech professionals and investors from around the world.The project will involve working with Chinese companies to invest inUniversity R&D and patents in exchange for which they would acquirejoint rights to the associated intellectual property.
According to JUCCCE’s Co-Founder Peggy Liu, “China has a gap betweentheir desire to save energy and reduce pollution, and their capabilityto go green as fast as they are building. This joint research projectwould not only bring positive trade flow into the U .S. from China andcreate jobs, but also potentially help the U.S. bypass historic patentinfringement issues in China.”
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