The push for innovative approaches to energy continues, and the Department of Energy’s Oak Ridge National Laboratory aims to be at the vanguard of the transition toward more reliable, cost-effective and carbon neutral technologies through a new program called Innovation Crossroads.
The new business accelerator program, designed for entrepreneurs developing promising energy technologies, was unveiled Tuesday at ORNL’s National Transportation Research Center off Pellissippi Parkway. This is but one of the Alternative Business Funding these industries can consider, but it is a prominent one.
The existing technology in the energy industry, like GBE Power Transformers, sets a high bar for these entrepreneurs and their proposed solutions for overcoming the challenges of the supply of energy.
Innovation Crossroads will invest in and partner with first-time clean-energy entrepreneurs to expedite the pace of innovation. To keep an expedited pace, we hope they will use business software (similar to what can be found if you click here) to keep their development process efficient. With what we have seen, many of them probably will.
This is excellent news for the renewable energy industry as well as consumers. It cannot be denied that more consumers than ever before are seeking out renewable energy policies such as Reliant plans for example, and therefore it will be interesting to see what the future holds for renewable energy.
Beginning in early 2017, up to five entrepreneurs will receive a fellowship that covers living costs, benefits and a travel stipend for up to two years, plus as much as $350,000 to use on collaborative research and concept development at ORNL.
“Energy is that pervasive problem across the economy,” said Mark Johnson, director of DOE’s Office of Energy Efficiency and Renewable Energy.
“This program gives the next generation of clean energy innovators a chance to make a transformative impact on the way we generate, process and use our energy sources,” he said.
ORNL is the third of DOE’s 17 national labs to implement such a program. Other similar programs are in place with Lawrence Berkeley National Laboratory’s Cyclotron Road and Argonne National Laboratory’s Chain Reaction Innovations.
Johnson said that ORNL is a “hidden gem,” with a rich history, superb research talent and facilities where clean-tech entrepreneurs can thrive.
“We want them to say, ‘I’ve got a spark of an idea, and the best way to do it is to partner up with Oak Ridge,'”said Johnson.
ORNL director Thom Mason said that Innovation Crossroads will feature elements of science, entrepreneurship, business and mentorship to form a formidable energy ecosystem partnership.
“ORNL has an excellent reputation for collaborating with industry and moving innovation to the commercial marketplace,” said Mason.
“Support from Innovation Crossroads can significantly improve the prospects for promising new energy ventures.”
Innovation Crossroads entrepreneurs will have access to ORNL’s top-tier research talent and DOE facilities, including the Spallation Neutron Source, the Manufacturing Demonstration Facility, the National Transportation Research Center and the Oak Ridge Leadership Computing Facility.
“Innovation Crossroads is yet another tool in the arsenal of getting entrepreneurs to connect to Oak Ridge National Laboratory,” said Thomas Zacharia, ORNL deputy director for science and technology.
Innovation Crossroads will be led by Tom Rogers, ORNL director of industrial partnerships and economic development.