For the third consecutive year, NSTAR and the U.S. Department of Energy (DOE) are sponsoring the MIT Clean Energy Prize, a national student competition that awards professional mentoring and financial prizes to teams that demonstrate a high potential of success in establishing clean energy business ventures.
The competition has helped launch several notable Massachusetts-based companies, including FloDesign Wind Turbine Corp. and FastCAP Systems, which have since been awarded more than $13 million in government grants for advanced research on renewable power and energy-storage systems.
Open to all U.S. university graduate and undergraduate students, over 100 teams are expected to compete in five energy tracks: energy efficiency and infrastructure; renewables; clean non-renewables; transportation; and deployment (clean energy services or processes). The deadline for entering is Feb. 25.
Semi-finalists will undergo rigorous coaching and one-on-one mentoring by business and technology leaders. Finalists will present detailed business plans to venture capitalists, policy experts, prominent academics and corporate executives. The $200,000 grand-prize winner will be awarded by NSTAR and the DOE in May.
For more information about the MIT Clean Energy Prize, visit mitcep.org.