10 Finalists Selected from a Pool of 61 Teams to Compete in the Final Round of the Competition for $250,000 in Cash, Products, and Services
Cambridge, MA - (April 17, 2007) - The judging committee for the Ignite Clean Energy (ICE) Competition today announced the 10 teams that will continue on in the three month long contest to compete at the finals, to be held at the Hyatt Regency Boston from 2 to 7 p.m. on May 1.
The 10 finalists were determined after 30 semifinalists presented business plans to several panels of judges at the semifinals event on April 5. Each team gave a 15 minute presentation to convince judges that their business plan and technology represents an exciting investment opportunity. Teams received up to 25 minutes of strategic feedback on the viability of their business plan and ways to improve their pitches from the volunteer judges representing the venture capital, intellectual property, entrepreneurial and academic communities.
The 10 finalists include teams with state-of-the-art technologies for cost-effective solar cells, a new type of biofuel, a new source of cooking fuels for the developing world, novel lighting technologies, a Carbon Free Credit Card and more. The grand prize winners will receive cash, legal services from Mintz Levin and Foley Hoag, office space from Cummings Properties and public relations services from Bell Pottinger USA. Other competition sponsors include Corning Incorporated, the Massachusetts Technology Transfer Center and the Massachusetts Technology Collaborative.
"The diversity and commercial potential of these ideas should prove to anyone that it is possible to make green products that also make economic sense," said Dr. Linda Plano, Competition Chair. "I am proud of the intensive coaching and mentoring our volunteers have given to our contestants this year in preparation for the semifinals and the finals. Each team has gained valuable entrepreneurial and presentation skills. The transformation from promising technology to well-considered business concept has been remarkable in many cases. I believe we will see many ICE Contestants develop into successful businesses in the coming years."
For more information on the finalists, go to http://www.ignitecleanenergy.com/#finalists. The finals will take place on Tuesday, May 1, from 2-7 p.m. at the Hyatt Regency Boston hotel located in downtown Boston.
About Ignite Clean Energy
Sponsored by the MIT Enterprise Forum Energy Special Interest Group, the Ignite Clean Energy (ICE) Competition 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 $250,000 in cash and services.