NJTC, PSEG team up on CleanTech Alliance — challenge offers startups $50K prize

The New Jersey Tech Council is partnering with Public Service Enterprise Group to start the NJTC CleanTech Alliance — which is kicking off with a $50,000 CleanTech Impact Challenge for startups.

The NJTC, a nonprofit known in the state for its support of business and technology innovators, said PSEG, one of the state’s major utility players, will be founding sponsor of the alliance, which strives for long-term support for the state’ innovation community.

The first step is the CleanTech Impact Challenge, which is offering a $50,000 cash prize and business mentoring to a startup that demonstrates the best state-of-the-art solution for efficiency and equity. Applications for the challenge open Thursday.

In addition, PSEG Chairman, CEO and President Ralph Izzo will cohost a webinar at 12:30 p.m. Thursday with NJTC CEO Aaron Price and former presidential candidate Andrew Yang to discuss alliance initiatives and PSEG’s support for innovation.

“New and existing technologies will play a critical role in decarbonizing our economy and transitioning towards a cleaner, more resilient energy system,” Izzo said in a prepared statement. “PSEG is proud to be the founding sponsor of the New Jersey Tech Council’s CleanTech Alliance, supporting the new CleanTech Impact Challenge. At PSEG, we understand that, to successfully address climate change, we must reach out beyond the energy industry and collaborate with creative, inventive thinkers to explore new ideas and foster opportunities.”

For more information on the webinar, or to register, click here.

Companies interesting in participating in the challenge must have less than $2 million in revenue and offer a product or service that addresses one of the challenge’s statements tied to energy, gas and workforce development.

For more information on the challenge, or to apply, click here, starting April 23.

The application deadline is midnight July 31. The winner will be honored at the Propelify Innovation Festival, slated for Sept. 24.

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