Energy

Business competitions at universities help accelerate the commercialization of technologies and birth of startups. The MIT Ignite Clean Energy competition is a year long training and competitive forum for entrepreneurs in the clean tech industry. It is one of many events that is produced by the Energy Special Interest Group (Energy SIG) and the MIT Enterprise Forum of Cambridge (MITEFC). Throughout the year, teams work with industry experts, mentors, and attend a variety of events all designed to polish business plans and get those ideas closer to market.

Konarka's revolutionary 3rd generation flexible solar technology has been in the making for the past 9 years and has received over $150 million dollars in financing. The company hasn't produced a product yet, but it has raised an additional $23.8 million dollars. [Konarka SEC Filing] The new money could signal it's solar film is close to being market ready. After reading about the technology, I'm sure you'll come to agree the company is posed for success.

The insertion of technologies and new business models can make a huge difference in third world countries. For example, A recent Stanford University study shows how solar powered drip irrigation systems in sub-Saharan Africa are changing the economics of agriculture for people in the poverty struck area where people live on less than $1.25 a day.

President Obama announced Friday that it's administration will award $2.3 billion dollars through the Recovery Act Advanced Energy Manufacturing Tax Credits to clean energy developers to enable over $7 billion in new manufacturing projects. The tax credits are in part of expedite clean technology advancement, but also to spur job creation through over 180 projects that could create tens of thousands of new jobs. “Building a robust clean energy sector is how we will create the jobs of the future,” said President Obama. “The Recovery Act awards I am announcing today will help close the clean energy gap that has grown between America and other nations while creating good jobs, reducing our carbon emissions and increasing our energy security.”

TechCrunch reported today that stealth startup, C3, has raised $26 million dollars and now has Condoleeza Rice on their advisory board. C3 will be focused on Energy and Emissions Management - mostly likely in the business of providing corporations with carbon cap-and-trade management systems. The company is founded by Thomas Siebel, who sold his last company Siebel Systems to Oracle for $5.7 billion. Secretary of Energy, Spencer Abraham is also on board. What's so interesting about C3 and Energy and Emissions Management systems?