For years, New York’s Southern Tier has experienced manufacturing job losses. Now, as part of an economic development initiative called 76West, New York State will help build a clean-energy sector in the 11-county region. From now until March 15, 2016, NYSERDA will accept applications for this $20 million business competition, which includes a $1 million top prize. Which clean-energy companies will compete and win?
Since 1975, the New York State Energy Research and Development Authority (NYSERDA) has been promoting energy efficiency and the use of renewable energy sources. As part of its mission, NYSERDA advances innovative energy solutions that strengthen the state’s economy. 76 West, one of the nation’s largest clean-energy business competitions, is named after the longitudinal line that passes through the Southern Tier.
As New York State Governor Andrew M. Cuomo explained in a recent statement, 76West will award $10 million in prize money and $10 million to clean energy companies for business support, marketing, and administration. The competition will run once a year through 2019, and provide a $1 million grand prize, a $500,000 award, and four $250,000 awards annually. Winners will receive state aid and support for two years.
Semi-finalists for this year’s 76West competition will attend a business “boot camp” in April to answer questions from judges. In May, finalists will visit the Southern Tier. The winners will be announced in July and site their businesses at one of six incubators run by the Southern Tier Start-Up Alliance, a consortium that includes Binghamton University, Cornell University, and the Incubation Works in Alfred.
For more information and the 76West application, visit nyserda.ny.gov/76west.
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