$100K Prize for Best Energy-Saving Idea for Water Systems

$100K Prize for Best Energy-Saving Idea for Water Systems

The nonprofit Imagine H20 has officially opened its second annual contest for startups with great new business plans for efficiently handling and using water.

With a theme this year of "The Water-Energy Nexus," the contest's $100,000 purse will go to the startup with the winning solution for reducing the amount of energy used in water systems. That can include heating or cooling water, pumping it, transporting it and treating both water and wastewater.

"Opportunities for saving energy exist at every stage of the water cycle," Imagine H20's Director of Operations Scott Bryan said in a statement. "Many of these innovations could be attractive to all water users from utilities down to the individual consumer."

Imagine H20 will accept entries until November 15. Details on eligibility and how to participate are available at www.imagineh2o.org/prizes/2010%20Prize.php.

The nonprofit lifted the veil on this year's competition in June and began accepting entries on September 1. Finalists are expected to be announced about December 1, with winners declared in March 2011.

The 2010 prize package includes cash and access to Imagine H2O's Incubator Program, which helps startups bring their winning ideas to market.

For example, Fruition Sciences, which devised a web-based application to help vintners use water more efficiently, won the inaugural contest and received a prize package of $70,000 in cash and in-kind services that included business, legal, accounting and tax support.

Image CC licensed by Flickr user
Perrimoon.