Technology
Artificial Intelligence Market Expansion at 15.92% CAGR by 2031 | SkyQuest Technology
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2 years agoon
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WESTFORD, Mass., June 27, 2024 /PRNewswire/ — According to SkyQuest, the global Artificial Intelligence Market size was valued at USD 157.8 Billion in 2022 and is poised to grow from USD 285.9 Billion in 2023 to USD 1,047.0 Billion by 2031, at a CAGR of 15.92% during the forecast period (2024-2031).
Artificial intelligence is developing human intelligence systems using devices to create intelligent software and hardware capable of performing human behaviors such as learning and problem solving. The report also includes AW-based solutions such as AWS Chatbots, OpenAI Codex, and Azure AI. The global market is set to grow exponentially with the rise of artificial intelligence, increased share and efficiency, growth of smaller AI providers, changing complex business models and highly personalized service requirements.
In recent years, digital technology and the widespread use of the Internet have contributed significantly to the global expansion of the AI industry. Technological advances in various industries are always driven by the huge investments in R&D by large tech companies.
In response to the introduction of new AI tools, hyper-scalers around the world are introducing AI-powered chatbots. These chatbots will compete directly with ChatGPT and help Hyper Scalar maintain its dominant position in this market. According to OpenAI, their AI tool ChatGPT reached over one million people in just five days when it was launched in November 2022. The tool can generate human-like text and translation from writing short texts, term papers and writing songs to mathematics Solution problems. But it took much longer for other popular online services to reach the million-user mark. The figures below show the time it took for popular online programs to reach a million views.
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Artificial Intelligence Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 285.9 Billion
Estimated Value by 2031
$ 1047.0 Billion
Growth Rate
Poised to grow at a CAGR of 15.92%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Offering, Technology, Business Function and Industry
Geographies Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Technological advancements in AI algorithms and hardware are pivotal drivers for the artificial intelligence market’s rapid growth
Key Market Drivers
The growing adoption of AI across various industries is a significant driver of market expansion
Segments covered in Artificial Intelligence Market are as follows:
OfferingHardware (AI Accelerators, Processors [Central Processing Units, Graphics Processing Units, Field Programmable Gate Arrays and Other Processors], Memory, Networking Hardware), Software (Type [discriminative AI {Classificational Algorithms, Regression Algorithm, Deep Learning Platforms, and Ensemble methods}, Deployment Model {Cloud and On-Premises}, Coding Automation {NO-CODE AI, LOW CODE AI, PRO CODE AI}]), Services (Professional Services [Training & Consulting Services, System integration & Deployment Services and Support & Maintenance Services], and Managed Services)TechnologyMachine Learning (Supervised Learning, Unsupervised Learning, Reinforcement Leaning), Natural Language Processing (Natural Language Understanding [Text-Classification NLP, Name Entity Recognition, Intent Recognition, Relationship Extraction, and Others], Natural Language Generation [Text Summarization, Machine Translation, Language Modelling, Dialogue Generation]), Computer Vision (Object Detection, Image Classification, Semantic Segmentation, Facial Recognition, and Others), Generative AI, Robotics, Autonous & Sensor technology, Context-Aware AI (Context-Aware Recommendation Systems, Multi-modal AI, and Context- Aware Virtual Assistants)Business FunctionMarketing & Sales (Customer Segmentation, Predictive Lead Scoring, Personalized Recommendations, Dynamic Pricing Optimization, Churn Prediction, Sentiment Analysis, Marketing Attribution and Others), Human Resources (Candidate Screening, Employee Retention Analysis, Performance Management, Workforce Planning & Forecasting, Employee Feedback Analysis, Skill Gap Analysis, Diversity & Inclusion Analytics and Others), Finance & Accounting (Fraud Detection, Financial Forecasting, Expense Management, Invoice Processing, Credit Risk Assessment, Regulatory Compliance, Budgeting & Planning and Others (Tax Automation, Financial Reporting Automation)), Operations (Predictive Maintenance, Supply Chain Optimization, AIops, IT Service Management, Quality Control, Route Optimization, Cold Chain Monitoring, Inventory Management, Procurement Automation, Equipment Failure Prediction, and Others), Cybersecurity (Threat Detection & Response, Anomaly Detection, Vulnerability Assessment, Identity & Access Management, Security Automation & Orchestration, Endpoint Protection, Network Traffic Analysis) and OthersIndustryBFSI (Fraud Detection & Prevention, Risk Assessment & Management, Algorithmic Trading, Credit Scoring & Underwriting, Customer Service Automation, Personalized Financial Recommendations, Investment Portfolio Management, Regulatory Compliance Monitoring and Others), Retail & E-commerce (Personalized Product Recommendation, Customer Relationship Management, Visual Search, Virtual Customer Assistant, Price Optimization, Supply Chain Management & Demand Planning, Virtual Stores and Others), Automotive, Transportation & Logistics (Semi-autonomous & Autonomous Vehicles, Route Optimization, Intelligent Traffic Management, Driver Assistance Systems, Smart Logistics & Warehousing, Supply Chain Visibility & Tracking, Fleet Management, Vehicle Diagnostics & Telematics and Others), Government & Defense (Surveillance & Situational Awareness, Law Enforcement, Intelligence Analysis & Data Processing, Simulation & Training, Command & Control, Disaster Response & Recovery Assistance, E-governance & Digital City Services and Others), Healthcare & Life Sciences (Patient Data And Risk Analysis, Lifestyle Management & Monitoring, Precision Medicine, Inpatient Care & Hospital Management, Medical Imaging & Diagnostics, Drug Discovery, AI-assisted Medical Services, Medical Research and Others), Telecommunications (Network Optimization, Network Security, Customer Service & Support, Network Planning & Optimization, Network Analytics, Intelligent Call Routing, Network Fault Prediction, Virtual Network Assistants, Voice And Speech Recognition and Others), Energy & Utilities (Energy Demand Forecasting, Grid Optimization & Management, Energy Consumption Analytics, Smart Metering & Energy Data Management, Energy Storage Optimization, Real-time Energy Monitoring & Control, Power Quality Monitoring And Management, Energy Trading & Market Forecasting, Intelligent Energy Management Systems, Others), Manufacturing (Material Movement Management, Predictive Maintenance & Machinery Inspection, Production Planning, Recyclable Material Reclamation, Quality Control, Production Line Optimization, Intelligent Inventory Management), Agriculture [Crop Monitoring & Yield Prediction, Precision Farming, Soil Analysis & Nutrient Management, Pest & Disease Detection, Irrigation Optimization & Water Management, Automated Harvesting And Sorting, Weed Detection & Management Weather & Climate Monitoring, Livestock Monitoring & Health Management, and Others] and Others), IT/ITes (Automated Code Generation & Optimization, Automated IT Asset Management, IT Ticketing & Support Automation, Intelligent Data Backup & Recovery, Automated Software Testing & Quality Assurance and Others), Media & Entertainment (Content Recommendation Systems, Content Creation & Generation, Content Copyright Protection, Audience Analytics & Segmentation, Personalized Advertising and Others) and Other Verticals
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Segments Redefining the Artificial Intelligence Market
With increasing demand for AI deployment, integration and maintenance services across industries, the service segment is the fastest growing in the global artificial intelligence market as enterprises seek to adopt AI-powered solutions. Many companies such as Accenture, IBM, and Deloitte offer comprehensive AI services that help organizations develop AI strategies, create custom AI models, and integrate AI into business processes.
The fastest growing category is NLP or Natural Language Processing due to its widespread use in various industries, increased demand for conversational AI while virtual assistants and chatbots playing a more important role in enhancing human-computer interaction which has also boosted the market. Transformer models such as GPT-3 and BERT, have greatly improved the capabilities of NLP for greater efficiency and versatility. Companies like Google, Amazon and Apple use NLP extensively for things such as understanding and responding to commands, translating text and speech, analyzing social media posts to predict public sentiment and much more.
The Asia Pacific region in the market is expected to witness the fastest growth during the forecast period. Demand for technology is growing due to increasing investments by many companies in the use of AI. In addition, the Asia Pacific artificial intelligence market is expanding, as AI is applied in a variety of industries, including automotive, healthcare, retail and food and beverage industries.
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AI: Shaping the Future of Industries Worldwide
Artificial intelligence continues to revolutionize industries, driving innovation, efficiency and economic growth. As AI technologies continue to evolve, their roles will become more diverse and impactful. Artificial intelligence has emerged as a transformative force, reshaping industries from healthcare to finance through automation, predictive analytics and personalized experiences. However, to unlock the real potential of Artificial Intelligence, ethical considerations, data privacy, and the need for a skilled workforce must be addressed. AI advancements pave way for innovation, expanded applications and integration into everyday life, paving the way for a smarter, more connected future.
Related Report:
Artificial Intelligence of Things (AIoT) Market
Edge Artificial Intelligence (AI) Market
Mobile Artificial Intelligence (AI) Market
Artificial Intelligence (AI) Hardware Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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Technology
QC Ware Announces 5th Q2B Tokyo Conference Focused on the Roadmap to Quantum Value in Asia and Beyond, Quemix to Co-host and Sponsor
Published
37 minutes agoon
April 21, 2026By
QC Ware hosts the 5th Q2B conference in Tokyo to connect the Asian and global quantum technology landscape and bring together quantum industry experts across computing, AI, telecommunications, sensing, finance, automotive, chemicals, and more.
TOKYO, April 21, 2026 /PRNewswire/ — QC Ware, a leading provider of industry-disrupting quantum technology, quantum-inspired machine learning, and quantum chemistry simulation solutions, today announced the 2026 Q2B Tokyo Conference (Q2B26) taking place June 4-5, 2026.
As the Q2B26 Tokyo Co-host and Platinum Sponsor, Quemix will contribute to discussions and demonstrations aimed at accelerating the adoption of quantum technologies in various industries, spanning pharmaceutical, biotech, finance, automotive, logistics, and artificial intelligence. “Quemix is proud to once again serve as a co-organizer for Q2B Tokyo, a venue that brings together the most significant global advancements in quantum technology. Our sessions will dive deep into these trends, offering a closer look at a variety of practical use cases implemented on real quantum devices.
We look forward to sharing our latest progress as we drive the practical realization of quantum computing. Please join us at Q2B to witness these breakthroughs in person.” said Quemix CEO and President, Yu-ichiro Matsushita. “A key highlight will be Quemix’s presentation of six industrial use cases, demonstrating tangible progress in real-world quantum applications across the automotive and materials industries.”
The conference, being held at the Grand Hyatt Tokyo, will dive deep into all major quantum technologies and themes: computing, sensing, communications, security, error correction, quantum AI, HPC integration, and more. Attendees can expect to see featured keynotes, industry case studies, and discussions led by experts at the forefront of quantum R&D from some of the world’s leading businesses and institutions across government, academia, and industry.
“Our team at QC Ware is really excited to see all of you at the 5th annual Q2B Tokyo conference! Quantum advantage is getting closer every day, and at this event you will be getting practical updates on progress by many of the leading QC hardware and software developers. If you are working in an enterprise that will be impacted by AI and quantum computing, then attending this event is a must!” said QC Ware CEO, Matt Johnson. “The quantum ecosystems of Japan and Asia are incredibly dynamic and exciting, and the work undertaken to directly and indirectly create that environment cannot be overstated.”
Through keynotes, business seminars, breakout sessions, technical workshops, and panel discussions, attendees at Q2B Tokyo will learn about the latest hardware and software breakthroughs as well as applications in optimization, chemistry simulations, pharmaceutical and materials discovery, error correction, and quantum AI. Additionally, the conference features several panels and sessions from field practitioners, end users, and experts across industries. Notable speakers include:
Kazuya Masu – Director, AIST – G-QuATTaro Shimada – Chair of the Board, Quantum Strategic Industry Alliance for Revolution (Q-STAR) and CEO, ToshibaMitsuhisa Sato – Division Director of Quantum-HPC Hybrid Platform Division, RIKEN Center for Computational ScienceMitsunobu Koshiba – Co founder, Cdots LLCShuntaro Takeda – Associate Professor, The University of TokyoYu-ichiro Matsushita – CEO, QuemixCarmen Palacios-Berraquero – Founder and CEO, Nu QuantumThom Murray – VP Quantum Technology Evangelism, D-Wave SystemsDr. Michael J. Biercuk – CEO and Founder, Q-CTRLShunsuke Okada – Chair of Executive Committee, Q-STARMatt Terabe – Chief of Quantum Technology, Deloitte TohmatsuSameh Yamany – Chief Technology Officer, VIAVI SolutionsAsif Sinai – Co-founder and CEO, QedmaTatsuo Nakamura – CEO & President & Founder, VALUENEX, Inc.Pouya Dianat – Chief Revenue Officer, Quantum Computing Inc.Yuval Boger – Chief Commercial Officer, QuEra Computing inc.Joseph Spencer – Director, GQI
Attendees will also have the opportunity to explore the exhibit floor with vendors showcasing their latest advancements in quantum technologies, featuring: Quemix, Classiq, Denso, Quantinuum, SQAI, QuEra Computing, Qedma, Quantum Machines, IonQ, Fujitsu, JHPC RIKEN Softbank, Quantum Computing Inc, IQM, Q-CTRL, D-Wave Quantum, Quanmatic, Toyota Tsusho, Lquom, Norma, Alpine Quantum Technologies, Q-STAR, Qunova Computing and more.
Find the agenda, featured speakers, sponsors, and register to attend Q2B26 Tokyo here.
About QC Ware
QC Ware is a quantum and classical computing SaaS company focused on delivering enterprise value through cutting-edge computational technology. The company develops enterprise-grade applications that run on state-of-the-art classical computing hardware and algorithms targeting near-term quantum hardware. Its flagship product, Promethium, is an advanced molecular discovery platform that leverages quantum chemistry to accelerate research across pharmaceutical, materials science, and chemical industries. With specialization in machine learning and chemistry simulation applications, the team bridges the gap between theoretical quantum computing and practical business solutions. Composed of some of the industry’s foremost experts, QC Ware is headquartered in Palo Alto, California, with a European subsidiary in Paris. The company also organizes Q2B, a global series of conferences for industry, practitioner, and academic quantum computing communities. Learn more at www.qcware.com.
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SOURCE QC Ware Corp.
Technology
8 Greenberg Traurig Attorneys to Speak at eMerge Americas Conference
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37 minutes agoon
April 21, 2026By
MIAMI, April 21, 2026 /PRNewswire/ — Eight attorneys from Greenberg Traurig, P.A. will speak at the 2026 eMerge Americas conference, considered the premier global technology event, April 23-24 at the Miami Beach Convention Center.
In addition to serving as an event sponsor, Greenberg Traurig is a founding partner of eMerge Americas and has played a central role in the conference’s development since its inception. Early planning discussions hosted at the firm’s Miami office helped spark the creation of eMerge Americas, laying the groundwork for what has become a premier global technology conference. Today, the annual event connects business leaders, government officials, investors, and entrepreneurs from around the world to discover the newest technologies fueling future innovation.
“Miami has emerged as one of the world’s premier tech hubs, attracting global talent and capital at an unprecedented pace,” said Jaret L. Davis, co-managing shareholder of Greenberg Traurig’s Miami office, a senior vice president of the firm, and general counsel for eMerge Americas. “As a founding partner of eMerge Americas, Greenberg Traurig’s attorneys are at the forefront of that transformation and are proud to share the eMerge Americas stage with the innovators and leaders building the future of technology both locally and globally.”
For over a decade, Davis has helped lead Greenberg Traurig’s work as a critical player guiding deals and investments in the technology industry. He routinely represents technology companies, including publicly traded clients with an aggregate market capitalization exceeding $100 billion, and several of Miami’s largest unicorn companies.
The following is a list of Greenberg Traurig speakers at the event and their corresponding panels:
Kieran Dwyer, Minneapolis Corporate shareholderDate and time: April 23, 3:15-3:45 p.m.Location: eMerge AI + DEEP TECH StagePanel: AI-Native Law: Securing and Governing Autonomous Systems at ScaleDescription: Explore what it means to operate in an artificial intelligence-native environment, how accountability is defined when systems act independently, and what it takes to secure and govern AI at scale.Jaret L. Davis, Miami co-managing shareholder and Corporate shareholderDate and time: April 24, 3-3:45 p.m.Location: Main StagePanel: Talent as National Infrastructure: Building the Workforce Powering America’s Innovation EconomyDescription: Dive into how education systems, economic development strategy, and private-sector innovation are aligning to build the workforce powering America’s innovation economy.Matthew Squires, Salt Lake City Corporate and Latin America shareholderDate and time: April 24, 1-1:30 p.m.Location: eMerge AI + DEEP TECH StagePanel: Investing Through Disruption: Venture Capital in the AI Acceleration EraDescription: From agentic AI and developer tooling to infrastructure and emerging platforms, the conversation will focus on areas where sustainable value is forming, how to separate momentum from substance, and what founders should understand about how capital is being deployed today.
Additionally, Greenberg Traurig attorneys will be presenting on a variety of topics at the firm’s booth, located at #517 in the eMerge AI Pavilion (view the full map):
Kieran Dwyer and Joshua B. Forman, Miami Corporate shareholderDate and time: April 23, 10-10:30 a.m.Topic: Inside the AI Boom: Explore the trends driving data center development, training, and AI deployment.Alan N. Sutin, Miami Technology, Media & Telecommunications Practice chair and Global Intellectual Property & Technology Practice senior chairDate and time: April 23, 11-11:30 a.m.Topic: Managing Risk When Licensing AI and Other Rapidly Evolving TechnologiesJohn D. Owens, III, Miami Corporate shareholderDate and time: April 23, 1:30-2 p.m.Topic: The Mainstreaming of Secondaries: The Role of Secondaries in the Venture Capital Market in 2026Shomari B. Wade, Washington, D.C., Government Contracts shareholderDate and time: April 23, 2:30-3 p.m.Topic: Navigating the New Era of Federal Acquisition: Policy Changes and Industry ImpactsErika Cabo, Miami Corporate of counsel Date and time: April 24, 10:30-11 a.m.Topic: Tokenization: Where the Real Opportunities Are — From Stablecoins to SecuritiesKieran DwyerDate and time: April 24, 11:30 a.m.-noonTopic: Five Questions Board Members Should be Asking About AI (and That CEOs Should be Ready to Answer)Date and time: April 24, 12:30-1 p.m.Topic: Effective AI Governance as an AI Accelerator – enabling teams to move faster within defined guardrails.
About Greenberg Traurig: Greenberg Traurig, LLP has approximately 3,100 lawyers across 51 locations in the United States, Europe, the Middle East, Latin America, and Asia. The firm’s broad geographic and practice range enables the delivery of innovative and strategic legal services across borders and industries. Recognized as a 2025 BTI “Best of the Best Recommended Law Firm” by general counsel for trust and relationship management, Greenberg Traurig is consistently ranked among the top firms on the Am Law Global 100, NLJ 500, and Law360 400. Greenberg Traurig is also known for its philanthropic giving, culture, innovation, and pro bono work. Web: www.gtlaw.com.
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SOURCE Greenberg Traurig, LLP
Technology
Rockefeller Foundation Accelerates U.S. Economic Solutions at “Big Bets for America: Baltimore”
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37 minutes agoon
April 21, 2026By
More than 250 U.S. leaders from across philanthropy, policy, the private sector, and nonprofits to surface and scale bold solutions to the country’s most pressing economic challenges.
BALTIMORE, April 21, 2026 /PRNewswire/ — The Rockefeller Foundation today hosted Big Bets for America: Baltimore, bringing together more than 250 leaders spanning policy, philanthropic, private, and non-profit sectors in Baltimore to surface, accelerate, and scale ambitious solutions to the country’s most pressing challenges. With a Steering Committee—consisting of Abell Foundation, Baltimore Community Foundation, Baltimore Homecoming, Greater Baltimore Committee, and The Harry and Jeanette Weinberg Foundation—and strategic partners Greater Washington Partnership, Baltimore Development Corporation, and Johns Hopkins University, the Foundation and event participants, including Maryland Governor Wes Moore, Baltimore Mayor Brandon Scott, and Cleveland Mayor Justin Bibb, announced new initiatives and innovative collaborations to create economic pathways and advance opportunities for communities across the State of Maryland and nationwide. In Baltimore, The Rockefeller Foundation also launched a $100 million commitment to connect America’s workers to good jobs and its next class of U.S. Big Bets Fellows.
“For 250 years, America’s promise has been that hard work leads to a stable, dignified life,” said Dr. Rajiv J. Shah, President of The Rockefeller Foundation. “Today, too many communities have been left so far behind that this promise feels out of reach. With the commitments announced today, The Rockefeller Foundation is betting on the resilience of the American worker and the ingenuity of our communities — and building the infrastructure to help that bet pay off at national scale.”
Big Bets for America is a national series of convenings that brings together leaders from across the United States to accelerate economic growth, energize action, and move communities forward. The Baltimore event builds on momentum from the series’ inaugural gathering in Oklahoma City in November 2025.
Major announcements from Big Bets for America: Baltimore include:
The Rockefeller Foundation Commits $100 Million to Connect America’s Workers to Good Jobs. The Rockefeller Foundation launched a new three-year, $100 million commitment to help communities across the country connect more people to good jobs and adapt to rapid economic and technological change. The strategy aims to benefit 10 to 20 million people across approximately 250 of America’s most distressed communities, help enable the creation of roughly 1.6 million additional good jobs nationally, and leverage aligned capital in partnership with employers and public, private, and philanthropic funders. The strategy focuses on sectors with the strongest job growth outlook: healthcare and the care economy, energy transition, food systems, and AI-enabled industries.
The Rockefeller Foundation to Increase Support for Invest in Our Future. As part of The Rockefeller Foundation’s commitment to advancing good jobs and building stronger, more inclusive workforce systems, The Foundation expects to provide over the next three years an additional $12 million to Invest in Our Future, a pooled fund supported by RF Catalytic Capital, Inc., that mobilizes clean energy opportunities to drive economic opportunity, including jobs, in communities nationwide. Since its launch in 2023, the initiative has worked with aligned funders to unlock hundreds of millions of philanthropic dollars for clean energy deployment and has shown that combining philanthropic capital, policy implementation, and strong cross-sector partnerships can rapidly scale impact and turn clean energy investments into real economic opportunities at the state and local levels.
Governor Wes Moore Announces $1.5 Million in Philanthropic Awards to ENOUGH Communities. Governor Wes Moore highlighted the distribution of $1.5 million in philanthropic funding awards from the Sherman Family Foundation, the Bainum Family Foundation, David and Lucile Packard Foundation, and The Rockefeller Foundation to strengthen education and child care access in nine ENOUGH communities – Maryland jurisdictions with high concentrations of childhood poverty. The funding will support nine ENOUGH communities as they launch and sustain programs to strengthen education and child care, including through such efforts as reducing chronic absenteeism through safe transportation options to school and developing afterschool programs to boost literacy rates.
The Rockefeller Foundation Announces Second Class of U.S. Big Bets Fellows. The Rockefeller Foundation named 10 bold innovators to its 2026 class of U.S. Big Bets Fellows — working in California, Central Appalachia, Indiana, Massachusetts, Minnesota, New Jersey, New York, North Carolina, Ohio, Tennessee, and West Virginia. Building on the inaugural 2025 class, this year’s fellows are working to expand workforce pathways and unlock capital for underserved communities. Over the course of the four-month fellowship, The Rockefeller Foundation will provide fellows with tailored programming, peer networking, and professional development to sharpen their approaches and scale their impact.
The Engine Introduces the Tough Tech Map. The Engine launched the Tough Tech Map, a public interactive directory connecting Tough Tech startups to sector- and geography-specific infrastructure — from national labs to test beds and fellowships to incubators. Developed in partnership with the broader ecosystem, the map aims to centralize resources startups in climate, health, advanced compute, and other Tough Tech sectors need to scale. Learn more at www.ToughTechMap.xyz.
LACI Expands City Climate Innovation Challenge to Baltimore & 15 Other US Cities. The Los Angeles Cleantech Incubator (LACI) announced a new cohort of cities for its City Climate Innovation Challenge, which includes Baltimore City and 15 others. The Challenge helps cities identify climate innovations and cleantech entrepreneurs, pilots the selected solutions, provides technical assistance, and scales what works to better improve lives and livelihoods in urban areas. Baltimore’s inclusion signals growing momentum for the program as it scales LACI’s unique model of public-private climate collaboration to cities across the country.
The Clean Fight Announces Expansion of its National Deployment Grant Fund. The Clean Fight announced that its National Deployment Grant Fund, an initiative that uses targeted catalytic grants of $50,000 to $250,000 to accelerate the adoption of proven clean energy solutions in homes, schools, and communities across America – prioritizing vulnerable and underserved communities – has received $1 million from The Rockefeller Foundation toward its $10 million goal. The Fund’s model is built on the idea that funding the right “first” project unlocks many more: each grant is structured to generate the evidence, financing model, or de-risked use case that allows other communities to follow without ongoing subsidy. In New York, The Clean Fight has supported 70 companies and 22 deployment projects with $5.4 million in catalytic grants, generating over 5,000 follow-on deployments statewide and nearly 1,000 jobs. The Rockefeller Foundation’s contribution is helping take The Clean Fight’s model national, with learnings shared broadly through open-source reference designs, implementation guides, and national convenings.
Big Bets for America Series to Go to Cleveland. Cleveland Mayor Justin Bibb and The Rockefeller Foundation announced that the next Big Bets for America convening will take place in Cleveland on June 9. More details about that agenda will be provided in the coming weeks.
What participants at Big Bets for America: Baltimore are saying:
Governor of Maryland Wes Moore: “When I committed to an unprecedented attack on child poverty in Maryland, I knew we needed more than just government on board. That’s why I’m grateful to our philanthropic partners who are stepping up alongside us to make bets on solutions no government can tackle alone. Today we’re taking another step forward on a truly collaborative approach that brings together government, philanthropy, and the private sector to set the standard for what real, structural progress looks like, and making Maryland a model for the nation.”
Mayor of Baltimore Brandon Scott: “Baltimore was proud to host this gathering of public and private sector partners committed to equitable, community-driven economic growth. Especially in areas that have historically faced intentional disinvestment—like many neighborhoods in Charm City—we have to be just as intentional with the ways we work to create opportunity today. I’m grateful that The Rockefeller Foundation shares that focus, and look forward to working together on many of the partnerships announced during this convening.”
Mayor of Cleveland Justin Bibb: “Cleveland is investing in its people, its neighborhoods, and its future – and it’s working. The moment is here to bet on our city, to connect residents to opportunity, and to unlock investment at scale. We’re ready to show the country what inclusive growth looks like in action.”
Kate Frucher, CEO, The Clean Fight: “This is the moment to make sure proven clean energy solutions – ones that improve lives right now and build resilience for decades to come – don’t sit on the sidelines. Supporting the right first project doesn’t just benefit one community, it creates a powerful slipstream for everyone who comes after. That’s exactly what our Deployment Grant Fund is built to do – using the disproportionate impact that strategically placed, small-dollar grant funding can have.”
Emily Knight, The Engine: “We built the Tough Tech Map to open up access to the infrastructure founders need to scale, not just in major hubs, but everywhere. It serves as connective tissue, helping startups leverage shared Tough-Tech-specific resources so they can stay capital efficient while turning breakthrough ideas into real-world impact.”
Matt Petersen, Los Angeles Cleantech Incubator: “LACI’s City Climate Innovation Challenge was created to help local governments pilot and scale the best cleantech solutions that improve air quality, create jobs, and grow the economy. Thanks to the support of the Rockefeller Foundation and others, we are excited to launch our next cohort of 16 cities across the U.S, including Baltimore, to increase access to reliable and affordable EV charging for every neighborhood, including apartment dwellers and underserved communities.”
Derrick Adams, Charm City Cultural Cultivation: “I’ve seen how different cities have transformed their communities into these types of communities where people can thrive. We’re really going into an entrepreneurial culture right now where there’s not going to be a lot of big industry in the way it used to be. We see it through the younger generations, the way they are mapping out their future…if you want to look at the way the economy is moving…people want to be in community, but we need to figure out how this community can advance.”
Torrey Smith, Philanthropist, two-time Super Bowl Champion: “The reality is there are so many more people doing way bigger and better things with less. And that’s why it’s important when you are the Baltimore Orioles or the Baltimore Ravens: You have the opportunity to uplift people by using your platform and providing them with opportunities.”
Kevin Plank, Under Armour: “Across the country, leaders are rethinking where they invest, where they grow, and where they place long-term confidence because capital is moving. Talent is mobile and cities are either stepping forward or falling further behind. But Baltimore has everything it needs to compete. …What is needed now isn’t more consensus; it’s shared conviction followed by action.”
About The Rockefeller Foundation
Investing $30 billion over the last 113 years to promote the well-being of humanity, The Rockefeller Foundation is a pioneering philanthropy built on unlikely partnerships and innovative solutions that deliver measurable results for people in the United States and around the world. We leverage scientific breakthroughs, artificial intelligence, and new technologies to make big bets across energy, food, health, and finance, including with our public charity, RF Catalytic Capital (RFCC). For more information, sign up for our newsletter at www.rockefellerfoundation.org/subscribe and follow us on X @RockefellerFdn, Instagram @rockefellerfdn, and LinkedIn @the-rockefeller-foundation.
About The Engine
The Engine is a nonprofit incubator and accelerator dedicated to supporting early stage Tough Tech companies by providing the infrastructure, programs, and ecosystem support they need to thrive. Tough Tech is transformational technology rooted in breakthrough science and engineering, aimed at solving the world’s most pressing challenges. These companies are capital-intensive, highly regulated, and technically complex, requiring specialized infrastructure, patient support, and a resilient path from lab to market. Learn more at www.engine.xyz
About Los Angeles Cleantech Incubator (LACI)
The Los Angeles Cleantech Incubator (LACI) is creating an inclusive green economy by unlocking innovation through scaling cleantech startups, transforming markets through catalytic partnerships with policymakers, innovators, and market leaders in transportation, energy, and sustainable cities, like the Transportation Electrification Partnership, and enhancing communities through green jobs workforce training, pilots and other programs. Founded as an economic development initiative by the City of Los Angeles and its Department of Water & Power (LADWP) in 2011, LACI is recognized as one of the top 10 innovative business incubators in the world by UBI. LACI has helped 506 portfolio companies raise over $1 billion in funding, generated $344 million in revenue, and created 2,626 jobs throughout the Los Angeles region, with a long term economic impact of more than $733 million.
About The Clean Fight
The Clean Fight is a not-for-profit dedicated to accelerating the adoption of climate solutions for 100% of the population – moving them into communities faster, more affordably, and at scale. Through catalytic grants, deployment programs, and prize competitions, The Clean Fight designs and delivers adoption models that turn one-off projects into first-of-many. The Clean Fight is supported by NYSERDA, the U.S. Economic Development Administration, and leading philanthropic partners. Learn more at thecleanfight.com.
View original content:https://www.prnewswire.com/news-releases/rockefeller-foundation-accelerates-us-economic-solutions-at-big-bets-for-america-baltimore-302749401.html
SOURCE The Rockefeller Foundation
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