U.S. Agencies to Fund Green Technology Start Up Challenge

(National Renewable Energy Laboratory)

The U.S. Commerce Department, with the Departments of Agriculture and Energy, Environmental Protection Agency, and National Science Foundation, opened their $12 million i6 Green Challenge for business incubators that help green technology entrepreneurs get started. This year’s competition is the second round for the i6 Green Challenge that began last year.

Commerce’s Economic Development Administration will award up to $1 million to each of six teams around the country. The partner agencies will award more than $6 million in additional funding to the i6 Green winners.

This year’s competition focuses on promoting proof of concept centers that help entrepreneurs with technology feasibility and business plan development, provide access to early-stage capital, and supply mentors to offer guidance. These centers also allow new technologies to mature and demonstrate their market potential, to help make them more attractive to investors.

The funding announcement says applicants must file a letter of intent no later than 2 May 2011. Full proposals are required by 26 May 2011.

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