The CleanTech Challenge (CTC) is an international competition jointly hosted by London Business School and University College London. It was launched in 2009 and it pitches teams of business, engineering & science students against each other to develop ideas that are ready for business.

These ideas must be ‘CleanTech’ in that they propose new products and services that can either:

  • generate sustainable energy or increase the efficiency of existing energy generation, storage, transmission, etc ('supply-side' solutions); or
  • result in lower energy consumption - and which will be readily adopted by users (both consumer or business)

The competition is unique in that it requires participants to form multidisciplinary teams. Successful ideas must be developed to a stage where they can attract ‘Stage A’ funding or be self-sustainable.

Who is taking part?

Students from universities all over the world – from Germany & Italy, to Singapore, the United States, South America, and the UK– have taken part in the Challenge.

Last year’s winning team was a partnership between IESE (Spain) and University of Arizona (USA) which proposed a network of solar-powered bicycles. In 2009, teams from London Business School & Imperial College, and KU Leuven (Belgium) shared the prize, for their ideas in renewable energy.

The final of this year’s CleanTech Challenge will take place on 20-21 April 2011 at London Business School. Finalist teams will benefit from direct coaching from leaders in venture capital and the green technology industry.

Why have the CleanTech Challenge?

Most business plan competitions are an end in themselves, with participants not fully considering the core risks and challenges faced by a new venture. We intend for the CTC to be different.

First, the new ventures are based on real technology opportunities and market needs. Second, we believe that there really is investment available for good opportunities. Third, we help put together rounded 'teams' that are explicitly short-term – with the right mix of capabilities to take the opportunity through to the ‘proof of concept’ stage of investment by a process that we call 'de-risking'.

In short, the goal of the CTC is to create sustainable ventures.