In a stride towards fostering energy innovation across the nation, the U.S. Department of Energy’s Office of Technology Transitions (OTT) has unveiled the Phase 1 victors of the Energy Program for Innovation Clusters (EPIC) Round 3.
A total of twenty-three incubators and accelerators, representing a diverse array of entrepreneurship communities, have been granted $150,000 each to fortify programs aimed at nurturing energy startups and entrepreneurs within their localities. This assortment of applicants encompasses traditional business accelerators alongside pioneering startup advocacy organizations, all poised to propel the energy innovation landscape forward.
At its core, the EPIC initiative is crafted to cultivate energy innovation ecosystems, heighten local business efficacy, and bolster the commercial triumph of energy startups. Now in its third consecutive year, the program continues to burgeon in influence with each successive iteration. EPIC Round 3 unfolds as a multi-phased, year-long endeavor culminating in the opportunity for grand prize recipients to negotiate a cooperative agreement with OTT, with potential funding reaching up to $1 million.
Dr. Vanessa Z. Chan, DOE Chief Commercialization Officer and Director of OTT, emphasized the pivotal role of incubators and accelerators in furnishing startups with indispensable resources like mentorship and technology validation. “The EPIC program empowers us to sustainably fund organizations committed to cultivating robust support systems for pioneering energy startups and entrepreneurs,” she noted.
Phase 1 Winners Showcase Commitment to Clean Energy Entrepreneurship
Arrowhead Center at New Mexico State University (Las Cruces, NM) – Focused on emerging energy and water technologies through Arrowhead RenewTech Incubator to help solve community and industry challenges.
The Phase 1 winners have exhibited unwavering dedication to clean energy entrepreneurship, showcasing inventive and impactful strategies for startup support, complete with actionable execution plans.
Moving forward, these Phase 1 awardees will progress to Phase 2 of the competition, where they’ll set their proposed programs into motion and craft a comprehensive project continuation blueprint over the ensuing seven months. Come September, they’ll present their initiatives, vying for the opportunity to secure a three-year cooperative agreement with OTT, with potential funding reaching up to $1 million each.
Startup Pitch Competitions: A Gateway to Recognition
Phase 2 of the EPIC Prize brings forth two national pitch competitions, offering a combined $165,000 in cash prizes to triumphant startups. Participants will be tasked with articulating a clear understanding of their technology, market dynamics, and the roadmap to commercialization.
Moreover, any past EPIC recipient holds the privilege to nominate one hard-tech startup for these pitch competitions. These events not only serve as a platform for incubators and accelerators to spotlight their most promising affiliates but also spotlight groundbreaking energy startups poised to redefine the industry landscape.
With each phase, EPIC Round 3 galvanizes a growing network of innovators, propelling the nation towards a sustainable energy future.
Article source: DOE Awards $3M to Incubators and Accelerators in Support of Clean Energy Tech Startups | Department of Energy
