Cleantech Open launches its 2010 Pacific Northwest competition
The Cleantech Open, a national business plan competition that debuted in the Pacific Northwest last year, announced its 2010 competition and a launch event in Seattle later this month.
The competition connects clean technology entrepreneurs with business mentors and introduces them to venture capitalists and business support organizations from around the Northwest. The process culminates in the selection of a winning company from the region that goes on to the national business plan competition to win $250,000 in cash and services.
Last year’s regional winners included Portland’s Green Lite Motors, which is developing commuter vehicles, as well as Seattle-based companies LivinGreen Materials and Hydrovolts. Each of the winning teams received $50,000 in cash and in-kind services and competed for the national prize package. Hydrovolts, also the winner of the competition’s National Sustainability award, received investment funding following the 2009 competition to build a full-size turbine for field testing.
The competition is in its fifth year, having started as the California Cleantech Open. Last year's national winner, EcoFactor, raised $5.9 million in venture capital earlier this month.
In a statement, Byron McCann, Pacific Northwest Cleantech Open co-chair said: “We believe that many of the solutions to the critical energy, environmental and economic challenges facing us today will come from the creativity, dedication, and passion of entrepreneurs and inventors. As we continue to expand, our competition offers regional cleantech innovators a faster path to commercialization.”
Entrepreneurs are encouraged to apply for the competition by the May 22 deadline.
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