MIT ENTERPRISE FORUM KICKS OFF 5TH ANNUAL ICE BUISNESS PLAN COMPETITION

BOSTON - (November 17, 2008) As part of the fourth annual Conference on Clean Energy, the MIT Enterprise Forum will be hosting a kick-off event for its 5th annual Ignite Clean Energy (ICE) Business Plan Competition at 5:30 pm on Wednesday, Nov. 19, 2008 at the Hynes Convention Center.

BOSTON - (November 17, 2008) As part of the fourth annual Conference on Clean Energy, the MIT Enterprise Forum will be hosting a kick-off event for its 5th annual Ignite Clean Energy (ICE) Business Plan Competition at 5:30 pm on Wednesday, Nov. 19, 2008 at the Hynes Convention Center.


The competition, which culminates in a finals event in November 2009, aims to build on New England's reputation for building new economies in high tech and bio tech industries by making the northeast a capital of innovation and commerce for clean energy. The goal of the competition is to act as a catalyst to jumpstart the creation of new companies while assisting entrepreneurs, both professionals and students, through mentoring, training, workshops, networking, investor access and publicity. More than 150 teams have participated in past competitions. Top teams have won nearly half a million dollars in cash and prizes. Previous finalist teams have become successful companies including PowerHouse Enterprises, RSI Silicon and FloDesign Wind Turbines.

Each team will be paired with industry mentors, enabling them to gain the knowledge and skills needed to attract investors and to build a sustainable company that will bring jobs and clean energy to the region. Winning entrants will be awarded $200,000 in cash and services, including legal, public relations services and office space for the grand prize winner. ICE 2009 is sponsored by The Massachusetts Technology Collaborative, Cummings Properties, Bell Pottinger USA, Mintz Levin, The Massachusetts Technology Transfer Center and Foley Hoag.

"We are excited to see the diverse ideas that this year's teams will bring to the competition," said Clark Waterfall, Chair of ICE 2009. "We have seen a number of our alumni go on to create successful companies, and ultimately, that's the goal here; to create new jobs and build a critical mass of interest and investment in the clean energy industry."

Competitors and volunteers must prepare for a new ICE competition schedule this year. ICE is shifting the timeline to be year round; expanding from five weeks in last year's competition to roughly five months for semi-finalist teams to work with mentors, build their teams and cultivate a viable and compelling business plan whether the team wins ICE or not.

The kick-off event will be held from 5:30 to 8:00 pm at the Hynes Convention Center in Boston, Mass. Please click here to register. As the Ignite Clean Energy Competition has expanded its geographic focus for 2009, similar kick off events will be held in New York City, Washington D.C., Research Triangle Park in Raleigh Durham, NC, and London England.

About Ignite Clean Energy

Sponsored by the MIT Enterprise Forum Energy Special Interest Group, the Ignite Clean Energy Business Plan Competition (ICE) began in 2004 to stimulate the growing clean energy industry in New England. It provides start-up clean energy companies and entrepreneurs with the opportunities and resources to develop business skills, network with industry professionals and the chance to attract potential investors. The winners will be awarded a total of $200,000 in cash and services. The leading sponsor for the 2009 ICE competition is the Massachusetts Technology Collaborative.


Contact:

Clark Crowley
ccrowley@bellpottingerusa.com
(617) 226-7184

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