NREL bridging the gap for entrepreneurs and VCs

PowerPoint? Check. Business plan? Check. Elevator speech? Check.

Breath mints, aspirin and antacids? Triple check.

Preparations are nearly complete for the 23rd Industry Growth Forum held in Denver beginning Oct. 19th by the U.S. Department of Energy's National Renewable Energy Laboratory.

Entrepreneurs at the Growth Forum take the stage under hot lights to make their best pitches to panels of discerning judges - venture capitalists (VCs), public officials and fund managers - who have seen and heard it all before, often in more promising economic times. All the while, a digital clock reminds them that time is running out.

It sounds a lot like the cleantech version of "America's Got Talent," without the sequins and singing. Expect the judging to be just as tough.

"In this economy, the judges will be looking for more innovation, a game-changing technology," said Lawrence "Marty" Murphy, Forum chairman and NREL's manager of Enterprise Development.

"There isn't as much capital available now as in years past, so when VCs make an investment they want to make a bigger investment that could result in large returns," Murphy said.

Premier Event for Clean Energy Start-Ups

NREL's Industry Growth Forum has grown into the largest national venture event focused exclusively on companies developing clean energy products to serve the electricity, buildings, and transportation infrastructures.

The Forum is the premier event for innovative clean energy start-up companies to meet venture capitalists, corporate investors and strategic partners.

This year, 200 clean energy entrepreneurs applied. Their products and plans were scored by 135 investors and other experts, and 34 were selected to compete as presenting companies. Since 2003, presenting companies have collectively attracted $3.4 billion in capital.

Among the 34 finalists, this year's emphasis is energy efficiency, energy management software, thermoelectric, Smart Grid and building technologies. In contrast to previous years, there will be relatively fewer presentations on solar, wind and biofuels.

"A few years ago people were seeing a lot of deals on photovoltaic (PV) technologies," Murphy said. "So if you have a PV company at the Forum this year, you'd better have a pretty innovative idea."

Emerging companies will get 10 minutes apiece to make their case.

Then comes the hard part - answering the judges' questions and absorbing their critiques. The winners will be announced at the concluding luncheon on October 21.

The top prize is the $25,000 Best Venture Award, which includes $10,000 in cash and NREL in-kind services valued at $15,000. Last year's Best Venture was Ecovative Design, which grows and forms biodegradable packing materials.

Two Outstanding Presentation awards, each valued at $15,000 in cash and in-kind services, also will be announced.

Read more at www.nrel.gov.