Free money for cleantech startups

It was a good day for fledgling cleantech companies.

Today, no less than two separate organizations kicked off competitions to identify innovative new clean technologies and teams, and reward them with hundreds of thousands of dollars in prize money, support services and other benefits.

The California Cleantech Open hosted a capacity crowd at its formal kickoff today in a plush wing of San Francisco's City Hall.

People in the cleantech business appear to be getting used to standing room-only seating (photo) >

This year, the California Cleantech Open plans to award six companies in six categories $50,000, as well as the equivalent of another $50,000 in donated business services such as legal, PR, accounting and office space.

Winners get “everything they need to get their company started,” noted entrepreneur and steering committee co-chair Michael Santullo.

Categories are largely the same as last year, including smart power; air, water and waste; transportation; energy efficiency and a renewables “catch all” for everything else. The group has also added green building as a new category.

Aside from the obvious benefits of potentially winning, applicants' $250 entry fee also entitles them to attend a workshop to learn how to effectively craft their companies' business plan executive summaries, and a separate one to learn how to make their own enterprise more sustainable.

Competition organizers are also making a downloadable sustainability starter kit available to applicants and any other interested party here [note the materials had not been posted by press time. -ed.]

The California Cleantech Open submission deadline is June 30th. Finalists are to be announced July 26th. The deadline for final business plans is Sept 19th. Prizes are to be awarded in late October.

Speaking at the event's launch, Ralph Cavanagh of the U.S. National Resources Defense Council called the event "a competition with no losers," and was optimistic that the science of emerging cleantech companies would help battle climate change.

"We’re going to win by out-innovating."

California Lt. Governor John Garamendi, also speaking, applauded innovation, but also encouraged those present to also "invest in the political process."

"There's a fundamental flaw in our energy policy here in the United States. Until there’s a change in the policy of this nation and how we fuel our economy, the problem won’t be solved," said Garamendi.

Prizes for the California Cleantech Open are being provided by corporate sponsors, which this year include:

• AMD – Smart power
• ENVIRON Foundation – Air, water & waste
• Google – Green building
• Lexus – Transportation
• PG&E, SDG&E, and SCE – Energy efficiency
• PG&E, SDG&E, and SCE – Renewables

the Cleantech Group is also a partner of the competition.

While one of the most visible business plan events for entrepreneurs, the California Cleantech Open event isn't the only game in town.

In a curious bit of serendipity, also today, a first international environmental design engineering competition of its kind was announced, sponsored by electrical components distributor Premier Farnell.

In the company's "Live Edge" competition, engineers, students and academics around the world are being invited to submit electronics-based solutions that have a positive impact on the environment, for example by increasing energy efficiency or reducing carbon emissions.

Surprisingly similar to the California Cleantech Open, the winning entrant is also to receive a cash prize of $50,000, as well as an additional $50,000 in services, including an electronic design consultancy for prototype development, assistance with legal matters and IP registration, marketing and publicity and help in securing investment.

For more information on both events:

California Cleantech Open

Live Edge