MaRS Announces New Cohort of Female Entrepreneurs for Cleantech Accelerator

The Toronto technology hub, MaRS, has sought to support female-led Canadian cleantech companies by teaming up with RBC to launch a 24-month cleantech accelerator program. The two-year program recruits 7-10 female entrepreneurs with impressive cleantech products, and offers them mentorship opportunities, an expert business advisor and access to investor networks in an effort to help each startup excel in a historically male-dominated sector. RBC has reported that in Canada, only one in 10 cleantech founders are women, a statistic that inspired the creation of the program.

Since its incubation in 2021, the accelerator has had much success. One of many success stories surrounds Moment Energy, a cleantech startup that repurposes used electrical vehicle batteries and transforms them into larger, rechargeable energy storage systems that can be used to balance electricity flows and demand peaks. Moment Energy began in 2020 as a small four-person operation, led by its founder, Sumreen Rattan, and was later admitted into the accelerator program in 2021. After utilizing many of the accelerator’s resources and connections, Moment Energy has now grown into a team of 40, and in early 2024, was recognized as one of 12 Canadian tech companies to make it to the global Cleantech 100 list. Moreover, the company recently entered into an $800,000 contract with the Vancouver International Airport to assist in its electric vehicle fleet charging system.

The new 2024-2026 cohort is expected to bring similar success stories, with startups such as Xatoms, which seeks to improve access to clean water through the use of AI and quantum chemistry, and SkyAcres Agrotechnologies, a cleantech startup aiming to grow its indoor farming software designed to support underutilized residential or commercial spaces.