Prize fund boost for energy saving entrepreneurs

The Dynamic Demand Challenge Prize, an exciting new competition looking for new products which significantly reduce carbon emissions, run jointly by Nesta, Imperial College London and the National Physical Laboratory has more than doubled the prize money on offer to entrepreneurs thanks to a generous donation.

The competition, which is looking for the ideas on how to make use of renewable energy sources as a way to manage the grid during grid peak times, is offering a prize of £50,000 to the most innovative idea. Now thanks to a generous donation of £125,000 from the Climate-KIC programme multiple ideas will be given the opportunity to be developed along with extra expertise from colleagues at Imperial College.

Speaking about the extra funding Jane Burston, Head of the Centre for Carbon Measurement at the Nation Physics Laboratory said: “Climate change and a clean energy supply are two of the biggest challenges of our time, this extra finding from Climate-KIC will help with the development of extra tools to help support the shift in supply towards renewable generation”.

Entrants will be assessed by a panel who will judge proposals based on their potential to produce the most significant impact and are deemed to have the potential to be scaled up to close to market products.

To find out more about the competition visit the Nesta website. The deadline for entries is 9 September.