Friday, April 16, 2010

Leveraging State Funding to Push Innovation

The federal government has and continues to play a key role in driving innovation. Research and development grants for new technologies have always played an essential role in getting cutting-edge ideas to market.

What’s getting funded these days? Energy efficiency. The Obama administration has put a tremendous emphasis on energy conservation, sustainability, and alternative fuel sources. The President recently ordered federal agencies to set ambitious goals to reduce greenhouse gas emissions, cut energy use, save water and recycle more. The order calls for a 30% cut in vehicle fuel use by 2020, a 50% increase in recycling by 2015 and the implementation of high-efficiency building codes. This shift in policy is resulting in a change in the way companies innovate and how we think about sustainability.

What’s new in the latest infusion of funding to spur innovation is that state governments are playing a key role. And, this money is not only going to companies that produce energy, but to the industrial sector that uses the vast majority of the nation’s energy supply. In fact, many state governments are offering federal tax credits and state funding opportunities for capital upgrades or retooling projects to reduce energy consumption. This is a great time for companies to take advantage of this policy shift to push innovation projects from “No Go” to “Go” with state government funding.

For example, one of our clients recently won a state-level grant to replace a 40-year-old boiler in its manufacturing facility, resulting in an annual savings of about $1 million in energy costs. While this internal investment had been on the company’s list for years, other initiatives had always taken precedence. By applying for state funding, the project was pushed from `no go’ to `go’. This project was a win-win situation because the company saved money in reduced energy costs and repairs and became more efficient. The government won because the state reduced its overall energy consumption in order to meet energy reduction goals.

For up-to-date information on government agency solicitations, check the ITECS Insider.

Don’t miss Susan Ward speaking at the Front End of Innovation Conference this May in Boston. She will be a panelist for the Technology Fishbowl – How Can We Change the Rules? on Tuesday, May 4th.

Not going to the show? We invite you to join us for a free Webinar on: What’s The Big Deal with Energy: Wading Through the Funding Streams

When: April 28, 2010 - 11am EDT
In this Webinar, Susan Ward will address the major concerns the U.S. has around the future of energy, and the funding streams and investment they are putting forth in the quest to become the world’s alternative energy superpower. She will also appraise the current administration's initiatives and discuss future trends. Specifically, this Webinar will:

· Discuss the current administration’s initiatives, where funding is currently going and who is getting it.
· Share thoughts on expected new legislation, and the resulting energy and investment trends.
· Relay information about access to funding and procurement opportunities.

To register for this webinar, please contact bward@itecs-innovative.com or 404-210-4140.

Susan Ward is the Founder and CEO of ITECS Innovative Consulting, www.itecs-innovative.com, a technology marketing company that helps businesses, universities and nonprofits fund, develop and commercialize high-potential technologies by leveraging the government as a funding source or customer. ITECS has secured more than $100 million in government funding and assisted in more than $500 million in successful technology product introductions, for a 70% hit rate with industry proposals. Susan can be reached at sward@itecs-innovative.com or hear her speak at FEI on Tuesday, May 4th.

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