SOURCE: Cleantech Open

Cleantech Open

May 05, 2011 16:13 ET

Cleantech Open Expands Business Competition Into the South-Central U.S.

Organization Seeks Local, Budding Entrepreneurs Looking for Investment Opportunities, Expert Advice, and the Chance to Compete Nationally for Valuable Prizes and Publicity

AUSTIN, TX--(Marketwire - May 5, 2011) - The nation's premier cleantech entrepreneurial competition has expanded its reach to give local talent an opportunity to contend for a grand prize of up to $250,000 in cash and services with an overall prize chest of more than $1 million. The Cleantech Open, which finds, funds and fosters businesses that work to solve energy, environmental and economic challenges, has expanded to provide mentoring, training, access to capital and showcasing opportunities to startups in Texas, Arkansas and Oklahoma.

"We are excited to work with some of the country's greatest trailblazers to build companies that will both lead the next economic revolution and help us cut our dependence on imported oil and create jobs in an emerging sector," said Rex Northen, executive director of the Cleantech Open. "This region is a leader in wind production and alternative-fuel vehicles, and is a hot-bed for energy innovation."

Now in its sixth year, the Cleantech Open has an impressive history of seeing its alumni companies raise more than $300 million in external private capital and create more than 2,500 new jobs, with a goal of creating 100,000 new jobs over the coming years. At least 80 percent of its alumni companies remain economically viable today.

Solution categories for the 2011 program include: air, water and waste; energy efficiency; green building; renewable energy; smart power, green grid and energy storage; and transportation. Companies with less than $1 million in private, third-party funding and less than $5 million from other sources of funding are qualified to apply. All teams must include at least one United States resident and a total of at least two individuals.

The Clean Technology and Sustainable Industries Organization (CTSI) and its consortium of partners in the tri-state area, including the Austin Technology Incubator, will coordinate efforts from metro hubs across the region.

"This event has enormous potential in the south-central region, where energy leadership, knowledge and resources abound," said Matthew Laudon, president of CTSI. "We look forward to exploring new technologies, strategic partnerships, and corporate relationships as a result of the Cleantech Open."

Judges in each region choose roughly 15 semifinalists to advance for mentorship and judging at the regional level. From there, top regional finalists will receive prize packages worth $20,000 in cash and services. They will compete nationally for a grand prize of $250,000 in investment and services.

The submission deadline is May 24, 2011. Interested companies should apply here: http://www.cleantechopen.org or e-mail Laura Benold with questions: cleantechopen@ct-si.org.

About Clean Technology & Sustainable Industries Organization (CTSI)
The Clean Technology & Sustainable Industries Organization (CTSI), a 501c6 non-profit industry association, represents the organizations developing, commercializing, and implementing energy, water, and environmental technologies. Clean technologies offer much needed solutions to growing resource security and sustainability concerns and are critical to maintaining economic competitiveness. CTSI brings together global leaders for advocacy, community development, networking, and information sharing to help bring these needed technologies to market more rapidly. Visit www.ct-si.org for more information.

About The Cleantech Open
The Cleantech Open runs the world's largest cleantech business competition. Its mission is to find, fund and foster entrepreneurs with big ideas that address today's most urgent energy, environmental and economic challenges. A 501(c)(3) not-for-profit organization, the Cleantech Open provides the infrastructure, expertise and strategic relationships to turn clever ideas into successful global cleantech companies. Since 2006, through its one-of-a-kind annual business competition and mentorship program, the Cleantech Open has enabled hundreds of clean technology start-ups to bring their breakthrough ideas to fruition, helped alumni contestants raise over $300M, and created an estimated 2,500 green-collar jobs. Fueled by a global network of more than 1,000 volunteers and sponsors, the Cleantech Open unites the public and private sectors in a shared vision for making America's cleantech sector a thriving economic engine. For more information, visit www.cleantechopen.org, and follow @cleantechopen on Twitter. The Cleantech Open network runs on assistance from volunteers.

If you're interested in mentoring a company, judging, sponsoring or otherwise being involved, e-mail Laura Benold: cleantechopen@ct-si.org.

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