Green Business Bureau Blog
Find a Competition to Help Fund Your Green Business
Have you ever been sitting at home and suddenly you had a brainstorm for a product that could help the world go green? If you have the energy and dedication to create a business plan to bring your inspiration into fruition, then there may be a business competition out there to help you. Just as the government realizes that investing in research can result in leaps of innovation, so to have green organizations realize that investing in environmental research can help spur their vision of a greener planet to a final goal.
There are several competitions currently that help groups with imagination and innovation to create a business or product that can improve the planet. There are abundant competitions through universities, designed to spur their students into thinking about the future. However, if your college years are behind you, there is still a chance to bring your idea from paper to life. There are a handful of competition in the nation that will reward business plans with real money and give you a big boost with introducing your product to major companies in the world.
Anaheim Center for New Energy Technologies (AC-Net) developed a competition for new businesses to develop clean energy or clean water technologies, designed to solve challenges that Southern California faces. Products need to be ready for customer testing and businesses need to be ready to relocate to California. Besides drawing attention to your product or business through application for the competition, the reward can be as much as $10,000 to help your product take the next step. To prepare for this competition you should visit www.acnet-anaheim.net for competition rules. This competition is specific to Anaheim and thus, knowledge of the areas challenges in energy and water is a must.
Clean Tech Open Competition
If you require a bigger boost to your business, then the Clean Tech Open may be what you are looking for. This annual competition awards businesses with innovative clean technology products, and rewards in six categories. According to their website at www.cleantechopen.com you can apply in: air, water and waste; energy efficiency; green building; renewable energy; smart power; green grid and energy storage; transportation.
The possibly greatest part for this competition is that Clean Tech Open will provide your business with a mentor to help you through the process and has business clinics and training to help you to succeed. There is a one hundred and fifty dollar entry fee, which is worth the chance to win one of the prizes starting at $10,000 to $250,000. To help prepare for this competition, your business really needs to have some solid research and already have some initial financial backers. One of the qualifications is that you have not obtained more than a million dollars from investors yet. In return, Clean Tech Open will help you create a solid business plan and help point you in the direction to achieve your goal of a green business, so you win even if you do not win the competition.
Imagine H2O, at www.imagineh2o.org, has a competition for businesses that have innovations with water be it in creating energy, or cleaning wastewater. This competition is designed for a business that is designed to make a profit, and in the end, has the best potential for becoming a sustainable solution. In other words, you cannot be a non-profit group. With over $100,000 in prizes, Imagine H2O hopes to spur water technology by leaps and bounds.
Once you have applied, you will be provided with mentors and a support program to help you make the best version of your product. During the competition you can connect to experts around the world, and even find a network to local more team members. You will gain access to other events that will help you form connections with worldwide experts, governments, investors, and more. Although you will be provided with a mentor and other expertise, your business should have a viable product ready for testing to have the best chance at winning.
A Little Competition is Good for Everyone
Even though employment and the economy are at an all time low, businesses realize that there is the potential for jobs and money to be made in environmental products. The business competitions mentioned above are samples of many happening all over the nation. Anyone with an idea or improving the world can take advantage of these competitions and get a business of the ground. Whether you are chosen as a winner, many of these competitions provide the help needed to make your business a solid competitor in the real world; which is the real prize.