(176a) Energy Innovation - Challenges to Commercialization of New Energy Technology

Meeting growing global demand for energy in the 21st century in an environmentally responsible manner will require a significant escalation in innovation and the development of new, clean energy sources. Innovation is defined as invention plus commercialization, so that the innovation process isn't complete until the invention has been turned into a useful product that provides real world benefits. Innovation in energy is complex, has a high rate of failure, takes a long time. Commercializing new energy technology requires numerous technical and business disciplines, partnerships with large energy entities, support from service organizations and most importantly, significant investment.

This presentation will explore the energy commercialization process and how a technology accelerator, such as the Houston Technology Center, can reduce the risk of failure and speed up the innovation process by helping energy entrepreneurs navigate the commercialization process, develop support networks, acquire skills and resources, develop strategic relationships and attract funding.