KPCB Doubles Commitment to Global Greentech Innovation

Firm Announces KPCB Prize for Greentech Policy Innovators and New Ventures Backed by Pandemic Preparedness Fund

New York, September 20, 2006 – Kleiner, Perkins, Caufield & Byers (KPCB) announced three new Greentech and Pandemic Preparedness and Global Health commitments at the Clinton Global Initiative annual conference. KPCB has doubled its commitment to Global Greentech Innovations to $200 million, introduced the KPCB Prize for Greentech Policy Innovators to recognize outstanding policy entrepreneurs, and has backed three ventures with its Pandemic Preparedness Fund.

KPCB Partner John Doerr said “The largest trend on the planet is urbanization as the number of people living in megacities triples from 2 billion to 6 billion. There are enormous needs for clean water, power, and transportation.   The partners of KPCB are doubling their commitment to Global Greentech Innovation (GGI) at the Clinton Global Initiative with $200 million over the next two years. 

We’re already backing 11 Greentech ventures with breakthrough technologies in biofuels, solar cells, fuel cells, storage, energy management and conservation.  And we look for many more.  Now 19 KPCB partners are applying our 35year track record of startup success to the biology, chemistry and physics of ‘Greentech’. The power of entrepreneurs can make a big difference in our prosperity and our planet’s precious environment.”

Also at the Clinton Global Initiative annual conference, KPCB announced the KPCB Prize for Greentech Policy Innovators to recognize and award $50,000 to outstanding policy entrepreneurs.  KPCB Partner Ray Lane said, “More than prize money, the KPCB Greentech Network provides support and advocacy for crucial policy innovation.”  KPCB’s Greentech Network includes over 50 policy experts, scientists, technology entrepreneurs, and greensavvy F100 business leaders. It played a key role in supporting the passage of AB32, California’s Global Warming Solutions Act. The KPCB Prize for Greentech Policy Innovators is in addition to the $100,000 KPCB Prize for Green Innovation announced in May that will recognize entrepreneurs whose creativity and dedication result in substantial advancements in green technology.

Third, KPCB announced that its $200 million Pandemic Preparedness Fund has backed three ventures to combat global infectious disease, including Biocryst (BCRX), Novavax (NVAX) and a rapid diagnostic technology. KPCB Partner Brook Byers said, “The world is woefully unprepared for global pandemic.  In the next year we commit to fund four more breakthroughs in global pandemic detection, diagnosis, antivirals, and vaccines.  We’re working closely with health agencies and government authorities in the U.S. and Asia. Further, we urge these innovations be offered for global access – at cost, or for license in the developing world, and on normal commercial terms to the developed world.”