i6 Green Challenge Is On

How much does it cost to promote new technology?  How much will it cost for the U.S. to lower its carbon footprint?  The U.S. seems to be determined to practice spending more money on green technology in the hopes that the investments will lead to positive, environmental breakthroughs in the future.

As if innovators have fond memories of science fairs from their days of yore, the government is encouraging genius by hosting a kind of competition called the i6 Green Challenge.

The U.S. Commerce Department’s Economic Development Administration (EDA) will award up to $1 million to each of six teams around the country with the most innovative ideas to drive technology commercialization and entrepreneurship in support of a green innovation economy, increased U.S. competitiveness and new jobs.  Its partner agencies will award more than $6 million in additional funding to i6 Green winners.

This year’s competition focuses on promoting Proof of Concept Centers, which support all aspects of the entrepreneurship process, from assisting with technology feasibility and business plan development, to providing access to early-stage capital and mentors to offer critical guidance to innovators. Centers allow emerging technologies to mature and demonstrate their market potential, making them more attractive to investors and helping entrepreneurs turn their idea or technology into a business.