If soaring oil prices don't provide enough encouragement to develop alternative energy, MIT has come up with an extra incentive: $200,000 in cash.
A panel of industry experts and venture capitalists will select the winner.
"We do research, we put out white papers," said Alexander "Andy" Karsner, the Energy Department's assistant secretary for energy efficiency and renewable energy. "But you've got to have people with business plans and people willing to take risks."...MOREFrom the press release:
...Additional information regarding the MIT Clean Energy Entrepreneurship Prize and the full competition is available at www.mitceep.com. Updates on the progress of teams participating in the competition will be available on the web site over the coming months.