A group of entrepreneurial investors including Mitch Lowe, Dave Graham, and Dillon McDonald have launched Greenstart, an incubator and investment project offering seed investment to entrepreneurs focusing on clean technology.

Greenstart, based in San Francisco, is a "startup accelerator" aiming to help young companies take off.

"The three of us have a lot of concerns about the energy challenge. For the next part of our careers, we wanted to focus on something that had a larger purpose," said Lowe referring to McDonald, with whom he founded online advertising company Jumpstart and Graham who runs a San Francisco tech consulting and seed investment firm.

The three are planning to want to help young entrepreneurs by offering them a place to work and $25,000 money. They are pooling in $2.5 million into the initiative, which will allow them to invest in 100 companies over the next few years.

Greenstart expects companies chosen for the program to "graduate" within three months. Lowe points out that entrepreneurs "validate their thesis and business model so they can raise that next round" of funding. Firms that will be interested to remain in the program after three months will not be kicked out.

After a firm is ready, it will have a pitch session in front of selected angel investors and venture capitalists. Lowe said that to the program will have mentors including venture capitalist Stewart Alsop, former Flextronics CEO Michael Marks and Tesla co-founder Marc Tarpenning.