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Competition: RechargeIT RFP
Challenge: Propose a business plan that would help enable the widespread commercialization of hybrid and all-electric vehicles
Deadline: Oct. 22, 2007
Prize: $10 million total; $500,000 to $2 million for each company selected
Last September, Google used $1 billion of its own capital to launch the nonprofit Google.org. For one of its first major initiatives, the commercialization of vehicle-to-grid technology, the group is funding 5 to 20 environmentally-focused small businesses and early-stage tech ventures that propose a feasible model for global change. Google.org will not take a seat on the board of any company it selects.
More info: http://www.google.org/recharge/rfp/
RechargeIT Request for Investment Proposals
Google.org is committed to finding innovative transportation solutions to reduce greenhouse gas emissions that cause global warming. Earlier this summer, Google.org launched its RechargeIT Initiative to accelerate the adoption of plug-in hybrid electric vehicles and vehicle-to-grid technology through technical demonstrations, grant-making, advocacy and investments. As part of this initiative, we are issuing a $10 million request for investment proposals (RFP). We plan to invest amounts ranging from $500,000 to $2,000,000 in selected for-profit companies whose innovative approach, team and technologies will enable widespread commercialization of plug-in hybrid electric vehicles, electric vehicles and/or vehicle-to-grid solutions. This RFP is global in scope, and we encourage responses from companies anywhere in the world.
Who Should Respond?
Google.org is seeking companies with technologies, products and services that will accelerate widespread commercialization in the following fields:
- Plug-in hybrid electric vehicles (PHEVs)
- Electric vehicles (EVs)
- Vehicle-to-grid solutions (V2G)
Some examples of companies or individuals that might want to apply:
How to Respond
- An early stage technology venture coming out of a university or lab looking to develop and commercialize a product (a new type of battery, for example)
- An innovative services business that can play a key role in the widespread adoption of PHEVs, EVs and/or V2G solutions
- A company focused on one of these markets which can use additional investment capital to scale up adoption of its products
- A company active in the automotive or power space that could modify an existing product that addresses a key need in one of these markets
You should submit a proposal of no more than five pages, including the following information:
- Description of technology, product or service
- Biographies of key personnel
- Product development plan, including key risk factors and plan to address each
- Partnerships necessary for success
- Description of target market and simple financial projections
- Funding needs, both short term and over the life of the business
- Projected reductions in greenhouse gas emissions and other impacts on sustainability
Companies that have specific ideas for how Google.org can directly assist them in addition to investment capital are encouraged to include this in their proposals. Google.org staff and a team of industry experts will review all proposals submitted and will select a subset to move on to the next stage. If selected, respondents will then submit a more detailed proposal and may be asked to present to us in person. Evaluation
Proposals will be judged against the following criteria:
- Potential for mass commercialization of your technology, product or service
- Your companys potential impact on industry-wide commercialization of plug-in hybrids, electric vehicles, and/or vehicle-to-grid power systems
- Assessment of team (Background of individual team members as well as diversity of skills)
- Quality of planning (Demonstrating understanding of product development, key risks and how to address them, necessary partnerships, and target market)
- Potential for raising necessary follow-on funding if objectives are met
- Potential reductions in greenhouse gas emissions and other impacts on sustainability
Proposals should be submitted to www.google.org/recharge/rfpform no later than October 22, 2007. Companies will be notified on a rolling basis whether they have been selected for submission of more detailed plans, so they are encouraged to submit their proposal summary as soon as possible.What About Non-Profits and Advocacy Organizations?
This RFP is focused exclusively on investments in for-profit companies. This RFP builds on a series of earlier grants for non-profits and policy work announced by Google.org as part of the RechargeIT initiative in June 2007. We may fund additional proposals in support of policy, R&D and other related work by non-profits, but that is not the focus of the current RFP.Questions?
More details are available in the FAQ. Formatted for CROWN by Marko Puljiæ
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