THE COACHELLA VALLEY ECONOMIC PARTNERSHIP (CVEP) on April 8, 2016, will celebrate the naming of Wells Fargo Innovation Center at the Palm Springs iHub Accelerator Campus, interim CEO and chief innovation officer announced today.
CVEP, which manages the Palm Springs iHub, is a member of the Wells Fargo Innovation Incubator (IN2) program funded by the Wells Fargo Foundation and co-administered by the Energy Department’s National Renewable Energy Laboratory.
Through its IN2 and Rural Investment for Sustainable Economies (RISE) programs, Wells Fargo and the Wells Fargo Foundation have awarded CVEP with more than $400,000 to date in grants to support clean technology innovation and small business development in the Coachella Valley and the High Desert. The naming of the center at the Palm Springs iHub Accelerator Campus reflects the bank’s deep commitment to innovation in the region.
“The support provided by Wells Fargo is symbolic of the effectiveness of our programs,” says CVEP interim CEO and Chief Innovation Officer Joe Wallace. “Wells Fargo made a visionary decision to partner with the National Renewable Energy Labs to establish a five-year program for accelerating the time it take for commercial building innovations to reach the market. CVEP was selected among the first group of business incubators to join the IN2 program, along with MIT, UC Berkeley, and Rice University. What we bring to the channel partners is an aspect of practical technical business expertise that perfectly complements the power of the research institutions.”
Ashley Grosh, vice president of Wells Fargo Environmental Affairs and IN2 co-lead, explains, “To address growing climate concerns, it is crucial to accelerate investments in innovative companies that provide clean technology solutions. The IN2 platform allows us to leverage critical partners like the Palm Springs iHub who help to identify clean-technology innovators and startups that are providing sustainable solutions. We are proud to have built a long-term partnership with the CVEP and the Palm Springs iHub and truly value the innovative solutions that are coming out of this region.”
Palm Springs Mayor Robert Moon adds, “The City of Palm Springs is absolutely delighted that Wells Fargo has recognized the phenomenal success of the Palm Springs iHub when it comes to incubating clean technology innovation and small business startups. There is no doubt the new Wells Fargo Innovation Center will be transformational for Palm Springs and the entire Coachella Valley, and we thank them for their tremendous investment in our region.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories
About Wells Fargo Innovation Incubator (IN2)
The Wells Fargo Innovation Incubator (IN2) Program is a platform designed to foster and accelerate early-stage commercial buildings technologies that provide scalable solutions to reduce the energy impact of buildings. Founded in 2014, IN2 is funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL). The IN2 platform is an invitation-only program. More than 30 leading accelerators, universities, and research institutions across the U.S. formally partner with us by sending referrals of clean technology companies to be considered for the program. To learn more about the Wells Fargo IN2 Program, watch the video:
The nonprofit Coachella Valley Economic Partnership promotes a diversified, year-round economy through business attraction, expansion, and retention, and developing a workforce aligned with the needs of business. For information, visit www.cvep.com or call 760-340-1575.