Monday, October 3, 2011

Local Universities Get $360K From DOE For Cleantech Entrepreneurship

Three local universities, plus a Pasadena-based startup, have received a $360,000 grant to promote student entrepreneurship in clean technology. According to Pasadena-based green marketplace firm OnGreen, the California Institute of Technology (Caltech), UC Los Angeles (UCLA), and University of Southern California (USC) scored a grant from the U.S. Department of Energy to help foster student entrepreneurs via a business plan competition run by the group called First Look West. The new effort, led by Caltech's Resnick Institute, is hoping to tap into OnGreen's network to find mentors to guide student groups and clean energy projects. OnGreen said it is the commercial partner for the effort. The investment in the Caltech-led effort was part of a $2M award by the Deparment of Energy announced last week to spur regional business creation competitions; other groups getting awards included the Massachusetts Institute of Technology (MIT), the University of Maryland, Chicago's Clean Energy Trust, Rice University, and the University of Colorado.

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