The Los Angeles Cleantech Incubator (LACI), dedicated to creating an inclusive, green economy by unlocking innovation, transforming markets and enhancing community, today announced that the Network for Global Innovation (NGIN) initiative is now a new organization led by Fred Walti, LACI’s Co-founder. NGIN will remain headquartered at the La Kretz Innovation Campus, home to LACI.

A LETTER OF AFFILIATION was signed this week by PARQUE TECNOLÓGICO ITAIPU (“PTI”) and the NETWORK FOR GLOBAL INNOVATION (“NGIN”) making PTI the Network for Global Innovation’s newest member.

In 2011, Fred Walti and his team were asked by the City of LA to develop a clean technology innovation center. Now, LACI is consistently recognized as one of the most innovative business incubators in the world by UBI, and was awarded the High Impact Incubator of North America award which shows that our focus on delivering results. LACI identifies local entrepreneurs across multiple cleantech business sectors and guides them to market, creating jobs that advance LA’s green economy. In just six years, LACI has helped 68 companies raise $132M in funding and generate $114M in aggregated revenues. In all, LACI and its portfolio companies have created 1,500 jobs and delivered more than $332M in long term economic value for the City of Los Angeles.