With tough times for small business, the solution may be going green. The NJ Tech Council, or NJTC, has partnered with New Jersey’s largest utility company for a $50,000 energy efficiency challenge.
The Public Service Enterprise Group, or PSEG, is an energy company based in Newark, NJ. Partnering with NJTC, they are also sponsors of the CleanTech Alliance, a trade coalition working toward energy efficiency.
As the nation battles coronavirus, many New Jersey businesses are fighting hard to stay afloat. Seeing the need for funding for small business, the CleanTech Alliance is awarding $50,000 through the CleanTech Impact Challenge.
The CleanTech Impact Challenge is a competition meant to foster innovation around eco-friendly technology in New Jersey. Administrators encourage any startup or small business working on solutions toward energy efficiency to enter.
“At PSEG, we understand that to successfully address climate change, we must reach out beyond the energy industry…to explore new ideas and foster opportunities,” said Ralph Izzo, Chairman, President, and CEO of PSEG.
To qualify, candidates must be under $2M in annual revenue. They must also have a product or service that meets one of the challenge’s statements on energy, gas, or workforce development.
Applications for the CleanTech grant opened on April 23rd, with a deadline of midnight, July 31st. PSEG will publicly honor the winner and give them their cash prize at the Propelify Innovation Festival on September 24th.
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Image courtesy of the NJ Tech Council.