Massachusetts Institute of Technology Clean Energy Entrepreneurship Prize 2008 Final Report DOE Award # DE-FG36-07GO17110

The MIT Clean Energy Prize was established to accelerate the pace of innovation in the energy space, specifically with regard to clean energy and to reduce our dependence on foreign oil. Through a prize structure designed to incent new ideas to be brought forward coupled with a supporting infrastructure to educate, mentor, network and provide a platform for visibility, it was believed we could achieve this goal in a very efficient and effective manner. The grand prize of $200K was meant to be the highly visible and attractive carrot to achieve this and through a public-private partnership of sponsors who held a long term view (i.e., they were not Venture Capitalists or law firms looking for short term business through advantaged deal flow). It was also designed to achieve this in a highly inclusive manner. Towards this end, while MIT was the platform on which the competition was run, and this brought some instant cache and differentiation, the competition was open to all teams which had at least one US citizen. Both professional teams and student teams were eligible