The winner of this startup challenge will be awarded a $50,000 cash prize & mentorship.
SOURCE: Public Service Enterprise Group (PSEG)
DESCRIPTION:
April 22, 2021 /3BL Media/ - TechUnited:NJ, a nonprofit organization that represents over 500,000 innovators in the business and technology industry and its partner, Public Service Enterprise Group (PSEG), New Jersey’s largest provider of electric and gas, are continuing the work they began together in 2020 to support innovation within the CleanTech startup community. PSEG is the founding sponsor of the TechUnited:BetterPlanet program, which represents a long term dedication to supporting innovation. TechUnited:NJ understands the increased demand of funding for small businesses, especially in an emerging industry like CleanTech, and has allocated a $50,000 cash prize to be awarded to the startup who demonstrates the most innovative solution for promoting and implementing electrified transportation through the TechUnited:BetterPlanet Challenge.
The details of this Challenge were revealed on Earth Day in a jam-packed virtual event featuring Governor Phil Murphy, Neil deGrasse Tyson, BlackRock President Robert Kapito, PSEG CEO Ralph Izzo, 2020 winner of the BetterPlanet Challenge WexEnergy, and more, hosted by Aaron Price, TechUnited CEO.
Startups can now apply to the BetterPlanet Challenge for their chance to win the prize and participate in the program. In a conversation between Ralph Izzo, CEO of PSEG & Robert Kapito, President of BlackRock (one of the industry leaders in ESG & climate change action), shared,
“For entrepreneurs, the amount of opportunities as we transition are going to be huge. So, when you’re talking about electric - what are the opportunities? [...] There are going to be opportunities for many entrepreneurs and people like me, who have institutions and individuals that want to target their money to make good returns, and have an impact, and do good.”
The partnership between PSEG & TechUnited is designed to inspire innovation & equity for the state of New Jersey, driven by technology and entrepreneurship. Startups and small businesses working on innovative solutions to drive a clean energy future and promote the infrastructure and solutions required to electrify all types of transportation are encouraged to participate. The value for startups applying is more than the $50,000 final prize. As explained by Ralph Izzo,
“Ultimately, the winner of the BetterPlanet Challenge will have a truly unique opportunity to have an impact on every home and business in New Jersey through transportation – which touches our lifestyles and can have a lasting impact on the environment and the planet, as well,” Izzo said. “Global climate change remains one of the pre-eminent challenges of our time and two-thirds of New Jersey’s residents agree. Shifting transportation from gasoline-powered vehicles to electric plug-ins will drastically reduce greenhouse gas emissions. Regardless of the outcome of the BetterPlanet Challenge, each of you has the opportunity to help change the world for the better.”
Former Presidential candidate and current NYC mayoral candidate Andrew Yang & PSEG Chairman, President and CEO, Ralph Izzo launched the inaugural program in 2020 (recap here), which focused on energy efficiency and energy equity. The 2021 Challenge renews hope in a future that focuses on cleaner air, lower energy costs, and equitable accessibility to electrified means of transportation for our communities.
To qualify for the TechUnited:BetterPlanet Challenge, applicants must be under $2M in revenue and have a product of service that addresses the Challenge Statement: Businesses interested in applying to participate should visit techunited.co/betterplanet-challenge. The application deadline is midnight, August 13. Winner to be honored on-stage by PSEG and awarded a cash prize of $50,000 at Propelify Innovation Festival in New Jersey, hosted on October 4-8, 2021.
About TechUnited:NJ
TechUnited:NJ is a membership non-profit organization that offers opportunities for technology and tech-enabled companies and entrepreneurs to connect, collaborate, and grow to propel the future of New Jersey and beyond. Currently, over 500,000 innovators belong to the organization.
TechUnited:NJ was founded in 1996 as the NJ Technology Council (NJTC). Over the last 24 years, the NJTC has established itself as the premiere advocate for the technology community around the region. In 2005, the NJTC helped start a successful venture fund in Tech Council Ventures. In 2019, the NJTC acquired the Propelify Innovation Festival to cast a wider net in the startup community of the region.
In 2020, the organization rebranded as TechUnited:NJ and redefined its mission to empower innovators and entrepreneurs who build a better future for all. Through membership, events, mentorship, content creation, advocacy, talent, awards, and innovative offerings, TechUnited:NJ represents the foremost leaders in the technology community. Our conferences, 8000-person Propelify Innovation Festival, intimate gatherings, and content, create unique opportunities for innovators to propel.
About PSEG
Public Service Enterprise Group Inc. (PSEG) (NYSE: PEG) is a publicly traded diversified energy company with approximately 13,000 employees. Headquartered in Newark, N.J., PSEG's principal operating subsidiaries are: Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the S&P 500 Index and has been named to the Dow Jones Sustainability Index for North America for 12 consecutive years (https://corporate.pseg.com).
For more information on the BetterPlanet Program, visit techunited.co/betterplanet-challenge.
