The MIT Clean Energy Entrepreneurship Prize is a new social venture business plan competition to support clean energy entrepreneurs. It is sponsored by MIT, NSTAR Electric & Gas Corporation and the United States Department of Energy (US DOE). In addition, the MIT Energy Initiative (MITEI) has played a key role in the development of this competition. According to MIT President Susan Hockfield, "The ultimate goal of this contest is to find innovative solutions to transform today’s energy systems into tomorrow’s sustainable energy future."
The MIT Clean Energy Entrepreneurship Prize builds upon the foundation of two existing competitions — the MIT $100K Entrepreneurship Competition and the Ignite Clean Energy (ICE) Competition — and creates a new unified process for student and professional clean energy entrepreneurs. Applications can be submitted beginning on January 15, 2008 and may be submitted until February 15. Prizes that will be awarded in May, 2008 will be:
- MIT Clean Energy Entrepreneurship Prize:
$200,000 in cash to the best overall team - MIT $100K Energy Award:
$20,000 in cash plus in-kind assistance to the best MIT Student Team - ICE Awards:
$20,000 in cash plus in-kind assistance to the best Student Team
$20,000 in cash plus in-kind assistance to the best Professional Team
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