Applications close April 15th, 2019
The purpose of the Competition is to be part of an overall program aimed at developing clean energy enterprises in the Southern Tier region. The Southern Tier is defined as including the following counties in New York State: Allegany, Broome, Cattaraugus, Chautauqua, Chemung, Chenango, Delaware, Schuyler, Steuben, Tompkins, and Tioga. This Competition will award a total of up to $2.5 million in prizes, per year, with a single top award of $1 million. Its goal is to attract entrepreneurs from around the world to compete for prizes that will turn ideas into funded enterprises with high growth potential in the Southern Tier.
The key principle is that the award money is used in support of developing clean energy businesses in the Southern Tier. Milestones will be used to assure award money is used to develop the clean energy part of winning businesses. Prizes will target scalable business models versus more localized service businesses. Emphasis will be on job creation and innovation.
The Competition is limited to applicants that are or intend to become operating companies in the Clean Energy field.
To be eligible for the competition, an applicant must be an established business entity that meets two or more of the following criteria:
- Less than seven years from
dateof formal organization
- Has its first product or service in testing or pilot production
- Pre-revenue or early revenue
- Has a leadership team and investors working towards commercialization and profitability
Award Amounts and Additional Benefits. NYSERDA will make up to the following six prize awards to the winners of the 2019 Competition:
- one award of $1 million,
- one award of $500,000, and
- four awards of $250,000.
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