EPA sparks Sustainable Innovation with New Competition
Posted : December 1, 2011 by Edwina, Category: Sustainability
If we’ve learned anything from recent headlines, it’s that energy efficiency and sustainable design companies have to spend big money if they hope to develop the next big green solution. With today’s rapidly advancing technologies, millions of dollars in government-backed loans and venture capital appear to be crucial. But is all of this really necessary?
One of the U.S. Environmental Protection Agency’s latest endeavors, referenced in a recent International Business Times article, is taking a different approach. As part of its People, Prosperity and the Planet (P3) Program, the EPA has awarded 45 grants of $15,000 each to colleges and universities across the United States. Students will use the money to design solutions for everything from water, energy and agriculture to the built environment and chemical use. The program’s overall goal is to “improve quality of life, promote economic development and protect the environment.”
What I find exciting about this particular EPA program is that it is set up as a competition, which is helping to spark innovation and excellence.
After working on the project for eight months, the teams will take their designs to the 8th Annual National Sustainable Design Expo on the National Mall in Washington, D.C. At the expo, the projects will be judged by a panel of experts and a select few will be awarded P3 Awards and Phase II grants up to $90,000 for students to further their designs, implement them in the field, or move them to the marketplace.
When it comes to new sustainable technologies and solutions, perhaps the companies developing them should prove themselves first. Competing for funding, just as participants of the P3 program are doing, will not only be conducive to better products and services, but also safer investments when it’s time for investors to take out their checkbooks.
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