At the 2012 Advanced Research Projects Agency – Energy (ARPA-E) Energy Innovation Summit, Bill gates and Dr. Steven Chu exchange idea on “how small businesses and innovators can overcome the challenges that face many startups“.
ARPA-E was launched in 2009 and in the 3 years, eleven of its projects have secured more than $200 million in outside private capital investments.
July 26, 2012, the Department of Energy has announced their efforts for awarding grants for small businesses that are working towards cutting-edge clean energy innovations. Arbsource of Tempe, Arizona and Proton OnSite of Wallingford, Connecticut were among the 2 latest small business companies that were awarded grants for developing hydrogen technologies.
“Small businesses are the backbone of our economy, employing half of all workers in America and creating two out of every three new jobs in the U.S… Bringing these innovative technologies to market is just the latest step in the Energy Department’s efforts to support the critical role that small businesses are playing in creating jobs for American workers and expanding our country’s clean energy economy. These businesses are helping to reduce our dependence on imported oil and protect our air and water, while ensuring that the United States leads in the global clean energy race.”
- Dr. Steven Chu, Secretary of the Department of Energy