2024
Annual Impact Report

Accelerating Diverse Innovations with 45Camp

Built in collaboration with Tabor 100, Prosper Portland, and Washington Microenterprise Association, 45Camp is a climate tech startup accelerator for underrepresented entrepreneurs in the Pacific Northwest, with a curriculum specifically designed to help founders refine their ideas, validate their products and services, and become pitch ready. The program includes a three-day workshop, a ten-week pre-accelerator, and a ten-week accelerator, plus self-paced virtual learning available to anyone. Beyond structured curricula, collaboration, and other resources, entrepreneurs are also connected with experienced mentors who provided guidance and feedback throughout the program. 

45Camp mentors, entrepreneurs, and their loved ones at 45Camp Accelerator WA’s celebration at Tabor 100’s office in Tukwila, Washington

2024 45Camp Impact

total entrepreneurs served

Demographic breakdown of 45Camp participants

Reflections on 45Camp from A Mentor

AnnaMaria White (White Star Communications), one of the mentors of the 45Camp program

Minority and underrepresented groups are disproportionately impacted by the climate crisis, yet founders from these communities receive less than 3% of climate-focused investments. VertueLab’s 45Camp is helping to change that. 

For Ashley Vaughn, EV range anxiety isn’t just imagined, it’s real. Last year, Vaughn’s Tesla ran out of charge in a rural part of Washington State, after three different charging stations didn’t have the right adapter for their car. Vaughn spent hundreds of dollars and lost an entire day  getting their car charged again. Other people who have experienced similar frustrations might just accept the faulty system and move on. Not Vaughn. They immediately got to working, applying their professional expertise in business and program management to address this problem. Mere months later, Vaughn launched EVALV Solutions, offering compatible EV chargers for rent at charging stations.

Growing up without reliable access to electricity presented many challenges for Geb Mengistu and his family and neighbors. It made everyday activities harder and had significant impacts on the economic opportunities for Geb’s community. After moving from Ethiopia to the United States and becoming an electrical engineer, Geb spent over ten years working on power systems, designing utility-scale energy storage systems, and in research and development. But he never forgot the experiences of his childhood. Then, in 2020, widespread power outages struck his area and Geb realized he could help. Drawing on his experience, Geb saw the untapped potential of combining energy harvesting and energy storage to offer better, more reliable power to customers. With the help of VertueLab, Geb founded WA-based Sustainable Power and Water Engineering Solutions LLC (SPWES) to bring his idea for low-cost home electricity solutions to market. Using lithium-ion and sodium-ion batteries, Geb’s generators can replace fossil fuel powered generators in homes during power outages or in areas without reliable electricity.

45Camp entrepreneur, Geb Mengistu during a product demo

Minority founders often have a deep understanding of underserved markets and communities that are most vulnerable to climate change. This knowledge can translate into products and services that not only address critical needs but also open up new market segments that mainstream companies may overlook.

Like Rafael Ellison, a certified electrician and school teacher. Rafael owns an electrical contracting company and trains new electricians how to install renewable energy products, like solar panels and EV chargers, in homes. He also has electrified his own home and drives an EV. Having touched every aspect of electrification, he saw first hand the challenges facing home electrification. As a business owner, Rafael saw how widespread adoption of home electrification will help bring costs down and be better for the planet. He was also in a unique position to understand a major hurdle to that widespread adaptation: certified trusted installers and a place for them to connect with customers. Rafael founded Charge Pros to address this growing gap. His platform brings together everyone in the electrification ecosystem; it connects equipment suppliers, government agencies and customers to the certified installers who are making home electrification dreams possible.

And Rafael is starting in historically underserved communities. According to the Selig Center for Economic Growth, he’s onto something. In 2020, Selig estimated that the buying power of minority groups in the U.S. reached $4.9 trillion, or 28% of the total US personal consumption expenditures (PCE).

By partnering with entrepreneurs like Vaughn, Geb and Rafael, VertueLab, Tabor 100 and Prosper Portland are working to help level the playing field for minority founders and bring more impactful climate technology to market. “45Camp gave us access to the information we usually don’t get access to. A lot of times, we know where we need to go, we have the will to do it, but don’t have the knowledge on how to get from point A to point B,” said Rafael, who was one of four founders to be awarded a grant from VertueLab and Tabor100, as part of 45Camp.

Vaughn, Geb and thousands of founders around the world are pursuing unique and groundbreaking technology solutions to address emerging needs and respond to the growing climate crisis, based on their individual experiences. And they’re not alone. The number of climate tech startups is increasing every year, and so is investment in such companies. According to a report by PwC and CB Insights, global investment in climate tech reached a record high of $113 billion in 2023, up from $38 billion in 2019. Yet, less than 3% of total investment dollars goes to Black and Latino founders, according to Crunchbase, even though Black, Indigenous, People of Color (BIPOC), women, and other underrepresented groups are disproportionately impacted by the climate crisis. This oversight isn't just a matter of equity; it's a missed opportunity for impactful solutions and robust returns.

Since their inception in 2007, VertueLab has invested $10M and thousands of mentorship and education hours into minority founders in climate tech. Through their Climate Impact Fund, they have supported 14 companies, including startups like Photon Marine and Community Energy Lab. Their portfolio has raised $23.4 million in follow-on funding and has the potential to remove or abate 6.4gt of emissions. With 45Camp, VertueLab reached 142 founders, contributed over $100,000 and nearly 300 hours of education to help our founders move their ideas and companies forward.

“As part of 45Camp, we found partnership with each other. The program was a good place for us to collaborate, brainstorm and be idea partners.” reflected Geb. “45Camp helped make the journey to entrepreneurship easier.” 

Added Vaughn, “Access to capital has been a major challenge so far. Specifically, access to feedback from investors on how, as a founder, you can get to a yes. This is one of the most important pieces of feedback you can get and something I feel I was missing as an entrepreneur before 45Camp.” Vaughn plans to use their 45Camp award to build out the EVALV Solutions platform and start testing in a few months. With the EV market expected to grow to $156.3 billion by 2029, Vaughn’s EVALV Solutions has the potential to tap into a critical market.

45Camp helped create an ecosystem of collaboration and impact that is reaching beyond the founders who participated in the program. None of this would be possible without the support of incredible partners who share our focus - Tabor 100 and Prosper Portland - and the mentors and supporters who helped make this program possible.

The climate crisis demands unprecedented levels of innovation, collaboration, and investment. By directing more capital towards minority-founded climate tech startups, investors can unlock a wealth of untapped potential, drive more inclusive innovation, and accelerate our progress towards a sustainable future. It's not just the right thing to do; it's a smart investment in our collective future.