By The Next Plays
Posted on Aug. 30, 2010. Listed in:
Giving inquisitive and commercially-focused minds access to leading research and development (R&D) is one of the main focuses of the Entrepreneur in Residence (EIR) programme. And when you introduce reputable venture capital companies into the mix, you have the potential to fast track new ventures.
The United States’ National Renewable Energy Lab (NREL) in Colorado carries out research and development in renewable energy and energy efficiency. Its research areas include distributed energy, vehicle technologies, solar energy, wind and hydropower. The NREL is one of three Department of Energy (DOE) facilities that is part of the EIR programme.
Launching in 2007, the EIR programme is designed to connect venture capital sponsored entrepreneurs with leading R&D to commercialise new clean energy technologies. The programme is part of DOE’s increasingly business-oriented mindset, building on industry partnerships and integration programmes. At the very least, the EIR programme provides insight about the approaches required to turn R&D into marketable products and services.
The DOE provides $100,000 for each entrepreneur; their venture capital sponsor matches that funding. Selected entrepreneurs conduct technology assessments, evaluate market opportunities, formulate preliminary business cases, and propose business structures for start-up enterprises. They also recommend policy and business practice modifications to the National Laboratories to refine their approaches to moving technology into the commercial sector.
More at: www.nrel.org
For the full case study, visit the NextPlay website
Image: www.nrel.org
