Clean-energy companies have until March 2 to apply for the next round of the 76West clean-energy competition. Now in its fifth year, 76West is one of the “largest competitions in the nation focused on supporting and growing emerging clean-energy businesses and economic development,” the New York State Energy Research and Development Authority (NYSERDA) says. About […]
Clean-energy companies have until March 2 to apply for the next round of the 76West clean-energy competition.
Now in its fifth year, 76West is one of the “largest competitions in the nation focused on supporting and growing emerging clean-energy businesses and economic development,” the New York State Energy Research and Development Authority (NYSERDA) says.
About the 76West program
The program will select a group of up to 20 semifinalists who will come to the Southern Tier next spring. They’ll meet with mentors who will connect them with prospective local partners, industry leaders, potential sources of funding, and other resources within the region.
The semifinalists will pitch their companies to a group of judges, who will then recommend the four finalists to receive a total of $2.5 million in prizes. This year, competition organizers have reduced the number of finalists so award amounts could be increased for each winner.
Judges will still name a $1 million grand prize winner, and the remaining three winners will each win $500,000, NYSERDA said.
As a condition of the award, companies must either move to the Southern Tier or establish a direct connection with the region, such as a supply chain relationship or other strategic relationships with Southern Tier entities that create jobs. If the firms are already in the Southern Tier, they must commit to substantially growing their business and employment in the area.
Administered by NYSERDA, the state launched the 76West competition in 2016 as a $20 million, four-year initiative to grow the clean energy ecosystem in the Southern Tier with funds from the regional greenhouse-gas initiative and the clean energy fund.
“Due to its significant positive impact for the region,” the state is continuing the competition for another four years with $20 million in funding from Empire State Development through the “Southern Tier Soaring” Upstate Revitalization Initiative, NYSERDA says.
