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1 min read energy

US seeks 'Top Energy Innovators'

As part of the Obama Administration’s Startup America Initiative, US Energy Secretary Steven Chu has announced the “America’s Next Top Energy Innovator” challenge, which will give start-up companies the opportunity to license ground-breaking technologies developed by the National Laboratories for $1,000 and build successful businesses.

As part of this effort, the Energy Department is reducing both the cost and paperwork requirements for startup companies to obtain an option agreement to license some of the 15,000 patents and patent applications held by 17 National Laboratories.

Currently, only about 10 per cent of federal patents have been licensed to be commercialised.  This initiative aims to double the number of startup companies coming out of the National Laboratories.

Read more here …

Published by:

Dan Ilett

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