Saving...In an attempt to spur the growth of innovation in the energy sector, The US Department of Energy is slashing the costs for startup energy companies for licensing patents held by the US government’s National Laboratories in a “New Top Energy Innovator” challenge.
The program runs from May 2 to December 15 of this years and allows companies to license up to three National Laboratory patents for $1000 each, rather than the normal fee of $10,000-$50,000. Chu also said that a simplified approval process would be put in place for startups, replacing lengthy negotiation procedures with a standard set of terms and conditions for licensees.
In announcing the program at MIT on Tuesday, US Secretary of Energy Steven Chu said, “We’re challenging entrepreneurs to move technologies invented in our National Laboratories out of the lab and into the marketplace,” Chu noted that only 10 per cent of National Laboratory patents had been licensed and commercialized by companies. “Our goal is simple,” he said, “unleash America’s innovation machine and win the global race for the clean energy jobs of the future.”
More details about the program can be found at the US DOE.
