The 76West clean-energy competition is now accepting applications from “emerging” clean-energy companies for its third round in 2018. 76West is “one of the largest competitions in the country that focuses on supporting and growing” clean-energy businesses and economic development, the office of Gov. Andrew Cuomo said in a news release issued Dec. 4. It also […]
The 76West clean-energy competition is now accepting applications from “emerging” clean-energy companies for its third round in 2018.
76West is “one of the largest competitions in the country that focuses on supporting and growing” clean-energy businesses and economic development, the office of Gov. Andrew Cuomo said in a news release issued Dec. 4.
It also complements “Southern Tier Soaring,” the region’s economic-development blueprint, Cuomo’s office said.
“76West attracts innovative companies and jobs to the Southern Tier and supports our efforts to build a strong clean-energy economy across New York,” Cuomo said. “The third round of the competition will encourage even more emerging clean-energy companies to grow their businesses in the Southern Tier and join us in our support of clean-energy technologies to fight climate change.”
The New York State Energy Research and Development Authority (NYSERDA) administers the 76West competition, which will accept applications through April 16, 2018.
Those interested can visit NYSERDA’s website for more information on the 76West competition, application information, and to see a complete list of previous winners, Cuomo’s office said.
The process
The state will select a group of up to 20 finalists and bring them 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 finalists will then pitch their companies to a group of judges who will recommend the six winners to receive a total of $2.5 million in prizes (a $1 million grand prize, one $500,000 prize, and four $250,000 awards).
The state will announce the winners later in 2018.
As a condition of the award, companies must either move to the Southern Tier or establish a direct connection with the Southern Tier, such as a supply chain relationship or other strategic relationships with Southern Tier companies that create jobs. If the companies are already in the Southern Tier, they must commit to substantially growing their business and employment in the region.
It’ll be the third year of 76West, a $20 million competition and support program that started in 2016 and will run through 2019. In total, over the four years, 76West will provide $10 million in awards and $10 million for business support, marketing and administration through the regional greenhouse gas initiative and the clean-energy fund.
Micatu Inc. of Horseheads won the grand prize in 2016. Skyven Technologies LLC of Dallas, which will expand its operations in the Southern Tier, won the top prize in 2017.
NYSERDA this past October opened its first incubator in the Southern Tier to support 76West winners and other clean-energy technology companies. Binghamton University is managing the Southern Tier Clean Energy Incubator, which provides space, technical support and assistance for clean-technology companies. It’s located in the Koffman Southern Tier Incubator building in downtown Binghamton.
