Frequently Asked Questions
What is the application process?
This program has a two-step application process.
· To be eligible all applicants must complete part one by October 25, 2019. These applications will be reviewed and if your organization is chosen to move forward you will be notified via email by November 7 with a link to complete the second part of the application.
· The second part of the application is due by end of business on November 15.
· The Exelon Foundation will invite start-ups to pitch meetings tentatively set for the following:
o November 20 – Chicago
o November 22 – Philadelphia, Atlantic City, and Wilmington DE
o December 4 – Baltimore
o December 5 – Washington DC
· Following the pitch meetings, a review team of Exelon Foundation and Exelon Corp. staff will provide recommendations to the Exelon Foundation Board for consideration.
· The Exelon Foundation expects to notify winners in December
How will the pitch meetings be structured?
Details on the format will be provided when startups are asked to complete part two of the application process.
What is the average size investment?
Investments can range from $25,000 and up.
What is the investment duration?
How will the investment be structured?
The Exelon Foundation will make investments utilizing different transaction structures as deemed suitable. Options will include direct common equity, preference shares, debt and convertible securities including SAFE Notes.
What are the criteria for the initiative?
Climate Change-specific demonstrated need: the extent to which the business proposal demonstrates a clear tie to either climate change: mitigation of GHG emissions and/or adaptation to specific climate change threats.
Enhanced community capacity: the extent to which the business proposal will build community capacity to reduce climate change impacts and increase community resilience in the face of current climate change projections.
Demonstrated partnership/multi-benefits: the extent to which the business proposal reflects a clear connection with city climate goals or initiatives focused on sustainability and/or climate resiliency and shows a consideration of its impact on other related sustainability issues.
Scalability: the extent to which the business proposal lessens barriers to implementation for wider deployment of GHG emissions reduction or climate change resilience solutions.
Assistance to environmental and social justice communities: the extent to which the business proposal is community-focused and addresses climate mitigation and resilience needs relevant to environmental and social justice populations, including designated disadvantaged communities
What are the criteria for the initiative?
Measurable impact: the extent to which the business proposal includes practical, measurable and innovative ways lower costs or improve accessibility to solutions that reduce GHG emissions and/or improve community resilience to the impacts of climate change
Geography: work must be done to impact one of the following markets: Atlantic City, Baltimore, Chicago, Philadelphia, Washington DC, and Wilmington DE.
Minority/Women-owned Business Enterprises (WBE): greater consideration will be given to MWB’s located within Exelon Corporation’s major markets and we will strive for investments with MWBE’s.
Where can I find the city-specific climate change and sustainability plans?
Below are links to the various climate change and sustainability plans by market.
· Atlantic City, NJ
· Baltimore, MD
· Chicago, IL
· Philadelphia, PA
· Washington DC
· Wilmington, DE
If my business is located outside of Exelon’s metropolitan markets, will we still be eligible?
Businesses can be located outside of the six identified markets (Atlantic City, Baltimore, Chicago, Philadelphia, Washington DC, and Wilmington DE), but the work needs to impact one of the identified metropolitan markets.
Who do I contact with questions regarding the program criteria? Who should I contact if I am having technical problems with the on-line application?
Please send any inquiries to email@example.com and someone will respond within 1-2 business days. Questions can also be addressed to Bruce Carrington at Freshwater Advisors at Bruce@FreshwaterAdvisors.com or 202.670.3542.