Startup Prize is expanding its efforts to support entrepreneurship with the launch of Startup Prize: Energy, a new competition focused on advancing innovation in the energy sector.

The program follows the success of Startup Prize: Health, which recently brought 47 health-focused startup companies from 17 states to Shreveport to connect with mentors, investors and industry leaders.

Startup Prize: Energy is presented in partnership with Louisiana Innovation (LA.IO) and the Future Use of Energy in Louisiana (FUEL). The inaugural qualifier event features two competition tracks, Fuels and Electricity, and brings together entrepreneurs, industry experts and investors from across the country for a conference-style event.

“Startup Prize: Health has become a focal point for health innovators from all over the country, and we are aiming to have the same success for Startup Prize: Energy,” said Gregory Kallenberg, founder of Startup Prize. “The competition and conference is really intense and involved. We were hoping for 16 startups and, to our surprise and delight, we’ve signed up 24 companies from 11 states and one from Switzerland!”

The program is modeled after the award-winning Startup Prize framework and is designed to support entrepreneurs developing technologies across the energy value chain. Participating startups are competing in two tracks, Electricity and Hydrocarbons/Fuels, with innovations ranging from electricity generation, battery storage and grid infrastructure to oil and gas extraction, hydrogen and alternative fuels.

Organizers say the addition of Startup Prize: Energy strengthens Louisiana’s growing innovation ecosystem by attracting entrepreneurs from across the country while also supporting startups based in the state. Both Startup Prize: Health and Startup Prize: Energy connect companies with mentors, business resources and potential investors to help accelerate growth.

“We’re incredibly excited about what Startup Prize is doing to attract innovators to our state, and we’re incredibly excited about the potential investments we will be presenting to our Investor Judges at the end of our process,” said Kallenberg. “Our goal is to activate and elevate innovation, and to connect our entrepreneurs with investment dollars and a possible home to grow their businesses in.”

Finalists for both Startup Prize: Health and Startup Prize: Energy will be announced in July. Selected companies will advance to the Startup Prize finals in August, where they will pitch their businesses before a panel of investor judges and answer questions about the viability of their companies.

Winners in each competition track will receive a $10,000 cash prize. Organizers note that the larger opportunity comes from presenting before investors who may choose to fund any participating company, regardless of whether it receives the top award.

Photos courtesy of Jeremy Hernandez/Startup Prize.