Screening and Judging will take place in three rounds after the close of applications on February 28th, 2012. The final Awards round will determine the winners, and be hosted by FLoW at the California Institute of Technology campus, Pasadena, California, April 30 and May 1, 2012.
Round 1: A panel of 15 experts including investors, technology specialists, university tech transfer personnel, energy corporations and leaders from the service industry will select those submissions demonstrating a strong technology platform and either a well-articulated concept for building a sustainable business or a full business plan.
Round 2: Participating regions will host a semi-final “ Investor Pitch” competition, giving those selected in Round 1 in their area the opportunity to present their business in front of a Judging Panel. The top three in each region will move forward to the Awards round for finalists. In addition to the designated winners, each sub-region will be invited to select five additional teams who will contest for ten wild-card spots in the Awards round.
Round 3: The Awards: Each of the teams will present their business plan in a formal session before a Judging Panel consisting of investors, and business and academic leaders who will determine the first, second and third place winners at an evening event celebrating all who competed. There will also be recognition given to the team demonstrating the most exciting “promising idea”.
The Judging Panels will consider the teams and their business plans under these general areas:
- The Concept and Product Novelty: how much is the product a game changer – the “wow” factor! Does it solve a real problem for real customers? Can it be scaled from a working prototype to a successful commercial product, and can it be manufactured?
- The Market: What is the size of market opportunity and the team’s go-to-market strategy?
- Financials and Profitability : Is the way your business going to earn money reasonable? Does the business strategy establish a plan to achieve profitability?
- The Team: Can they execute against the business plan, and what is the quality of the leadership? What areas will require bringing in management staff with different skills?
- Presentation skills: The ability to convey with clarity and passion, the team’s business vision.
- The Technology: Does it address the cleantech areas outlined by the competition? How revolutionary is the technology and how much better than current product technologies already on the market?
- Impact on EERE Mission: to strengthen the United States energy security, environmental quality and economic vitality.
