Teams Prepare for Round Two in the 2009-2010 Clean Energy Prize Competition
14 Gennaio 2010 - 9:28PM
PR Newswire (US)
ANN ARBOR, Mich., Jan. 14 /PRNewswire/ -- Sixteen teams plugging
ideas that range from making wireless gadgets last longer to
harnessing wind power at home will compete Jan. 22 in Round-2
judging for the 2009-2010 Clean Energy Prize. The competition,
presented by DTE Energy and the University of Michigan and now in
its second year, challenges teams to develop business plans that
promise to move a new, clean-energy technology from the laboratory
to the market place. A total of 32 teams made up of students from
six Michigan colleges and universities participated in Round 1, for
which judging was conducted Nov. 23 at U-M's Ross School of
Business. The schools represented by participants in the first
round include The University of Michigan, Davenport University,
Henry Ford Community College, Wayne State University, Michigan
State University and Oakland University. The competition requires
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
teams are competing for a share of a $100,000 prize pool, which
will be awarded Feb. 12 after the final round of judging. The prize
money rewards the winning teams with resources that can help them
further develop their ideas and ultimately start new businesses
that can contribute to Michigan's emerging role as a leader in
clean energy. The teams that advanced from the first round are: --
Advanced Battery Control -- Carbon Perks -- Dadi Systems -- Enertia
-- Food Waste Energy -- Go Green Energy Consulting -- Green Silane
-- Ice Mitigating Systems -- Nalu Solar Software -- The Planeteers
-- Qisol, LC -- ReGenerate -- Rho G Wind -- Smart Energy Inc --
Solaculture -- Synerton Innovations In Round 2, these teams will
present a market analysis and preliminary financial analysis to a
panel of judges that includes leaders from the venture capital,
business, industry and academic communities. The teams also are
required to submit a written summary of their analyses. The judges
will assess the teams on their written material as well as their
presentation skills. Of the 16 teams competing in Round 2, as many
as eight teams will advance to the semi-final round that will be
held Feb. 12. The Clean Energy Prize competition was established by
DTE Energy and the University of Michigan to encourage
entrepreneurship in Michigan and the development of clean-energy
technologies. The Masco Corporation Foundation and The Kresge
Foundation were Clean Energy Prize founding sponsors and they
continue to support the competition. Additional sponsors include
UBS Investment Bank and Nth Power, a clean-tech venture capital
company. "The primary purpose of the Clean Energy Prize is to
foster greater entrepreneurship within universities and be part of
a broader ecosystem to encourage more risk-taking and tech
start-ups in Michigan," said Knut Simonsen, president, DTE Energy
Ventures. The U-M Ross School of Business' Ross Energy Club along
with the Michigan Memorial Phoenix Energy Institute and the
Michigan Initiative for Innovation and Entrepreneurship are
organizing the current competition. Also providing support is
several other University of Michigan entities, including the
college of engineering's Center for Entrepreneurship, the Zell
Lurie Institute for Entrepreneurial Studies, and MPowered
Entrepreneurship. Simonsen said he is pleased with the number of
teams participating and with the number of schools represented. In
the first year, all teams had to have at least one U-M student or
faculty member. "After the success of the inaugural Clean Energy
Prize last year, we decided to open the competition to all Michigan
colleges and universities so that it could generate more ideas and
greater participation," he said. "And the results - with 32 teams
and 135 individuals participating - have exceeded our most
optimistic expectations." Jeff Caveney, one of the Ross Energy Club
student leaders, said the competition has generated dozens of
compelling ideas for new, clean-energy businesses and demonstrates
the enthusiasm that students have for entrepreneurship. "Round 1 of
the 2009/2010 Clean Energy Prize was a testament to the creativity,
ingenuity, and overall interest in clean energy amongst students in
Michigan," he said. "Both the participants and leadership team are
eagerly awaiting rounds two through four to watch the ideas mature
into viable business plans." Details of the competition are
available on the Clean Energy Prize Web site:
http://www.dtecleanenergyprize.com/. DTE Energy Ventures is a DTE
Energy company that invests in emerging energy technologies and to
date has invested more than $100 million in energy-related
companies and funds, making us one of the largest Michigan-based
venture capital operations. Information about DTE Energy Ventures
is available at http://www.dteenergyventures.com/. DTE Energy
(NYSE:DTE) is a Detroit-based diversified energy company involved
in the development and management of energy-related businesses and
services nationwide. Its operating units include Detroit Edison, an
electric utility serving 2.2 million customers in Southeastern
Michigan, MichCon, a natural gas utility serving 1.3 million
customers in Michigan and other non-utility, energy businesses
focused on power and industrial projects, gas midstream,
unconventional gas production and energy trading. Information about
DTE Energy is available at http://www.dteenergy.com/. The Ross
Energy Club is a group of talented business students who share an
interest in energy. REC promotes career development by providing a
forum for education about all aspects of business in the energy
sector. The Michigan Memorial Phoenix Energy Institute develops,
coordinates and promotes multidisciplinary energy research and
education at U-M. Some 75 faculty in disciplines ranging from
engineering to policy to environmental science to urban planning
are a part of the institute. DATASOURCE: DTE Energy CONTACT: Sue
Nichols, Michigan Memorial Phoenix Energy Institute, University of
Michigan, +1-734-615-5678, ; John J. Austerberry, DTE Energy,
+1-313-235-8859, Web Site: http://www.dteenergy.com/
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