in News Departments > New & Noteworthy
print the content item

Ann Arbor, Mich.-based DTE Energy and the University of Michigan (U-M) have teamed up to challenge teams from Michigan colleges and universities to develop the best business plans for bringing new clean energy technologies to market. The teams with winning ideas will share $100,000 in prize money, to be awarded in spring 2009.

"Our goal is to drive promising clean energy ideas and technologies from the research lab to commercialization," says Knut Simonsen, president of DTE Energy Ventures. "This competition will encourage students and faculty to integrate new technology with a sound business plan, and it will reward the winning teams with additional resources, so they can further develop their ideas. We also believe the competition will help reinvigorate a culture of entrepreneurship in Michigan."

The U-M Ross School of Business' Zell Lurie Institute for Entrepreneurial Studies, the College of Engineering's Center for Entrepreneurship and the Michigan Memorial Phoenix Energy Institute, along with student organizations MPowered Entrepreneurship and the Ross Energy Club, are organizing the competition. The competition is open to students and faculty from all Michigan colleges and universities. Each team must have at least one University of Michigan student or faculty member.

The competition will require that teams focus on business ideas that support renewable energy, energy efficiency, smart grid technologies, environmental control technologies, plug-in electric vehicles or energy storage.

The business plan entries will be judged by independent panels that will include leaders from the venture capital, business, industry and academic communities.

The prize money will help the winning teams start new businesses that can contribute to Michigan's emerging role as a leader in clean energy. Assuming this initial competition is successful, it is envisioned that the competition will be held in subsequent years with an annual prize pool of $200,000.

SOURCE: DTE Energy


Trachte Inc._id1770
Latest Top Stories

Wind Energy Dominates New U.S. Power In October

Data from the Federal Energy Regulatory Commission shows that wind power accounted for over two-thirds of the country's new electricity generating capacity in last month.


Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?

Renewable NRG_id1934
Hybrid Energy Innovations 2015