Berkeley Ventures launched today as a for-profit hi-tech incubator, announcing the immediate availability of its 8,400 sq ft facility and its first four portfolio companies. Berkeley Ventures is focused on web 2.0, mobile, clean-tech, software, financial services and gaming. Unique in its approach, the Berkeley Ventures program is not limited to a fixed period of time. Berkeley Ventures helps startups maximize success by providing seasoned advisors, infrastructure, investor contacts, proximity to a world class research university, and a dynamic startup community.

Berkeley Ventures’ portfolio companies are potentially disruptive in their industries. Power2Switch is creating a retail marketplace for electricity. WAPIS is developing a breakthrough approach to clean energy prospecting. Virtual Labs uses cloud computing to bring a new level of efficiency to the test and measurement industry. FI Infonet is a unique integration of Web 2.0 features targeted at financial institutions.

Incubators are playing an increasingly important role in the startup ecosystem due to changes in the venture landscape. Price Waterhouse Coopers reports that venture capital investing declined in Q2 by 51% from the same quarter last year. Incubators like Berkeley Ventures, Y Combinator and TechStars are expanding to fill the void left by venture capital.

"Incubators fill an important gap by supporting seed stage companies before they are ready for venture capital funding," said Waverly Deutsch, Professor of Entrepreneurship at the University of Chicago Booth School of Business. “In this environment, incubators can eliminate some of the early stage risk prior to venture capital funding by creating solid technologies and better operational discipline,” noted Jonathan Morgan, an advisor to Berkeley Ventures, former President and CEO of First Virtual Communications.

The importance of incubators was also demonstrated by an Economic Development Administration study showing that incubators are 20 times more effective at job creation than other initiatives. Berkeley Ventures is committed to the success of its portfolio companies and is founded on the principle that the “Power of a startup community” is the best path to achieve this goal.

About Berkeley Ventures:

Berkeley Ventures is a privately held for-profit incubator located in Berkeley California. Portfolio companies are primarily in the fields of mobile, web 2.0, clean tech, software, financial services and games. Additional information is available at http://www.berkeleyventures.com.