Green is the new Gold in California
As a young kid growing up in Northern Ireland, I was captivated by the California dream portrayed in the 80s movie classics of my youth: sun-kissed beaches, swaying palm trees, and the glittering allure of Hollywood, everything just seemed cooler in Cali to my 10-year-old self.
But California doesn’t just impress 80s kids across the pond, it has long been heralded as a land of dreamers, innovators, and visionaries. From Hollywood's cinematic endeavours to Silicon Valley's tech breakthroughs, it’s a state that has consistently stayed at the forefront of new industries and movements.
Moreover, for over six decades, it has championed environmental innovation and policy, setting a precedent for others to follow.
From those pioneering days, California has remained steadfast in its quest to drive global green technology and policy initiatives, asserting its position as an environmental trailblazer.
For emerging and established clean tech innovators and end users looking to expand or break into the California market, here are some clear reasons why you should consider the Golden State as your next expansion hub.
1. State Funding Incentives
One of California's strengths lies in its proactive governmental approach toward clean technology and environmental sustainability. The state has committed billions of dollars to support the growth of clean energy and sustainable industries.
Tailored grants and loans empower the inception and scaling of pioneering cleantech initiatives.
Generous tax credits and exemptions reward enterprises dedicated to research and manufacturing in renewable energy and eco-solutions..
Too often California gets labelled as a state that is not business-friendly, in the cleantech space nothing could be further from the truth.
2. Robust Investor Network
Silicon Valley is synonymous with venture capital, and California-based investors have a rich history of funding disruptive technologies.
Investors in the state are not just limited to traditional tech sectors but are increasingly funnelling money into green technology. The presence of these venture capital firms offers a more streamlined path to substantial investments, giving smaller startups multiple options for raising capital.
3. The Innovation Ecosystem
California is more than just a place—it's an ecosystem. California is home to some of the world's top universities and research institutions like Stanford, Caltech, and UC Berkeley pushing the boundaries in green technology research. The state has a vast network of accelerators, incubators, and innovation hubs that foster collaboration, mentorship, and the exchange of ideas. Being surrounded by like-minded entrepreneurs and top-tier researchers means that cleantech companies can continually refine and evolve their solutions, tapping into the collective acumen of the region.
In addition, the state is way ahead of the curve when it comes to infrastructure to support electric and zero-emission vehicles. Yes, there is a long way to go, but compared to other states and countries California is on a much better footing from which to launch new cleantech solutions,. According to the California Energy Commission, as of mid-2023, there are 91,000 which constitutes over 56% of all public and shared chargers in the US.
4. Early Adoption of Technology
Californians are renowned for their openness to new technologies. This characteristic is particularly beneficial for cleantech companies that often face the challenge of market adoption. The state's residents have openly embraced new clean tech – in 2022 California accounted for 42% of all ZEV sales in the US, with this share set to increase in the short term looking at current purchasing patterns (18% of all new car sales in California were ZEV, this compared to just 6% for the rest of the US).
Add to this the current state goals and mandates that are in place; all new cars and passenger trucks to be zero-emission by 2035, light duty vehicles to be 50% zero-emission by 2030, 100% by 2040 – you begin to see how the forces of market demand, incentives and policy-making are combining to create significant momentum in the clean tech space. Given all the ancillary technology required to support mass adoption of these vehicle types, launching a cleantech product in California provides a multitude of opportunities to engage with End Users who are motivated to deploy technology, offering market validation from an informed and engaged user base.
Boots on the Ground
State funding incentives, an investor-friendly climate, a thriving innovation ecosystem, and a culture that encourages early adoption of technology make California the ideal location for cleantech companies looking for exponential growth and long-term impact.
FutureMobilty.io is your ‘boots on the ground’ connecting innovators and end users to deploy clean mobility technologies. Whether you are a fledgling startup or an established player in the field of sustainable technology, the Golden State offers opportunities that are too good to ignore. As my inner ‘80s kid would agree, California really is where it’s at.
Connect with us here if you want help navigating the rich opportunity that is California.
