tough decisions

Greentown Labs reduces roles at Houston, Boston incubators

The cuts to positions affects both Greentown Labs locations. Photo via Greentown

Greentown Labs has announced a reduction in its staff, which affects both of its locations.

In a letter addressed to the Greentown Labs community, the organization's CEO and President Kevin Knobloch reported that Greentown will be reducing its staff by 30 percent, eliminating 12 roles in Boston and six in Houston. Knobloch noted changes in leadership, growth of the team, and adjustments following the pandemic.

"Greentown Labs grew rapidly over the past four years in pursuit of advancing its mission to catalyze climate action through entrepreneurship, partnership, and collaboration," Knobloch writes in the letter. "This created a structural deficit where growth outpaced revenue."

The letter did not provide details of which positions were eliminated at either location.

With these resizing of the staff and reduced expenses, Knobloch writes that the organization is positioned well for its future.

"Despite this decision, I remain optimistic about the future for Greentown and the impact we will have on addressing the climate crisis," Knobloch tells the community. "Our mission is as urgent as ever and we remain committed to supporting all of you—our startups—by prioritizing core operations, member services, and strategic partner engagements."

Knobloch took the helm of Greentown last summer. He previously served as chief of staff of the United States Department of Energy in President Barack Obama’s second term.

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A View From HETI

Greentown Labs and MassChallenge have formed a strategic partnership. Photo courtesy Greentown Labs.

Climatetech incubator Greentown Labs has formed a strategic partnership with global zero-equity accelerator MassChallenge.

The two organizations have headquarters in the Boston area, while Greentown Labs is also co-located in Houston. MassChallenge has a hub in Dallas, as well as others in Israel, Switzerland and the United Kingdom.

The new partnership aims to strengthen the ecosystem for early-stage climatetech startups by providing more mentorship, support and a broader commercialization network for members, according to a news release.

Greentown Labs will share its expertise with the 23 startups in MassChallenge's first climate-specific accelerator, known as the MassChallenge Early Stage Climate program. Additionally, Greentown Labs members will benefit from MassChallenge's network of expert mentors, judges, entrepreneurs, partners, investors, philanthropists and others.

“There are so many synergies and shared values between MassChallenge and Greentown that launching a collaboration like this feels like a natural next step for our organizations as we strive to support as many early-stage climate founders as possible,” Georgina Campbell Flatter, Greentown Labs CEO, said in the news release. “We want to reduce the friction and barriers to market for these climate entrepreneurs and ultimately increase their opportunity for success—ecosystem collaboration is an essential part of solving these challenges together.”

Combined, Greentown and MassChallenge report that they have supported more than 4,500 founders and more than 1,000 climate startups. MassChallenge has awarded more than $18 million in equity-free grants to startups, which have gone on to raise over $15 billion, since it was founded in 2009. Greentown Labs has helped more than 575 startups raise more than $8.2 billion in funding since it launched in 2011.

Greentown recently added five startups to its Houston community and 14 other climatetech ventures to its Boston incubator. It also announced its third ACCEL cohort, which works to advance BIPOC-led startups in the climatetech space, earlier this year. Read more here.

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