Kennispark Twente sees opportunities for startups in the region
Investment group Caterpillar Ventures recently joined Cottonwood Technology Funds as a member of its investment group. Kennispark Twente believes this can lead to financial and development opportunities for startups in the region of Twente. Caterpillar Ventures supports entrepreneurs all over the world to grow and scale their businesses, not only through their investments, but also through knowledge transfer. Caterpillar Ventures is a wholly owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Ideal testing ground for young innovative startups
Ray Quintana, General Partner and Head of the European Operations and Corporate Relationships for Cottonwood is excited about the commitment of Caterpillar to the investment group. “Being a global manufacturing leader, Caterpillar provides an ideal testing ground for so many of the technologies we are supporting and finding. Caterpillar is willing to be an early adopter and help the companies test their products in live applications and then also perfect their manufacturing processes at lower volumes before they have to scale to larger markets. Combined with Caterpillar Ventures, and what we expect to be increasing support from other major corporations over time, Cottonwood is building an excellent platform for finding and supporting the most promising emerging technologies across a global marketplace.”
Investments in startups
Cottonwood Technology Funds has been based in Kennispark Twente in Enschede for over one year. Cottonwood invests specifically in young companies active in photonics, advanced materials, robotics, healthcare and renewable energy. At the early stages, Cottonwood supports startups with capital, connections and guidance to grow them to full-fledged companies. In the last year, Cottonwood has invested in Clear Flight Solutions and Eurekite, both startups from Twente.
Opportunities for startups in the region
Kennispark Twente, the ecosystem for entrepreneurship and innovation, where Cottonwood Europe is located, is also enthusiastic: this step not only strengthens the Fund financially with a new limited partner, but it also strengthens the connections between our young companies and key players in a relevant market sector. This is how Cottonwood leverages our ecosystem.