i6 Challenge to Encourage Innovation and Entrepreneurship -- $12M in Funding Available

The U.S. Department of Commerce's Office of Innovation and Entrepreneurship and Economic Development Administration (EDA) has announced a new $12 million innovation competition, in partnership with the National Institutes of Health (NIH) and the National Science Foundation (NSF). EDA will award up to $1 million to each of six teams around the country with the most innovative ideas to drive technology commercialization and entrepreneurship. NIH and NSF will award a total of up to $6 million in additional funding to NIH or NSF Small Business Innovation Research grantees associated with winning teams.  The competition is designed to support and reward innovative approaches to turning ideas into new products and businesses that help America compete in the global economy. 

“The i6 Challenge is an exciting opportunity to highlight some of the nation’s best minds that are helping to move ideas from the lab into the marketplace,” said US Commerce Secretary Gary Locke.

Entrepreneurs, investors, universities, foundations, and non-profits are encouraged to participate in the i6 Challenge. The deadline for applications is July 15, 2010.

To learn more, or to apply, visit their website