Abstract
The Energy-Related Inventions Program (ERIP) is jointly administered by the US Departments of Energy and Commerce. Grants were awarded for 165 of 208 inventions recommended by the National Bureau of Standards (NBS). Of the 165 inventions, 46 have been able to acquire follow-on financing from a variety of sources. Further, 35 of the inventions have reached the marketplace, and their cumulative sales to date total $178 million. An additional 10 inventions are now starting into production. Jobs that have been created directly by production related to the inventions total 756; additional spin-off jobs attributable to the inventions include component and material suppliers, jobbers, franchisees, and distributors. The program was recently evaluated at Oak Ridge National Laboratory, with the following conclusions: (1) the evaluation process at NBS has been successful in identifying technically and economically feasible inventions, (2) the success rate for the program is about equivalent to the reported success rates of private venture capital firms, (3) the program is supporting inventions at a point in their development where they are supported by neither the venture capital community nor industry, and (4) the one-time DOE grants and the associated ERIP support to inventors have been successful in readying inventors for follow-on financing from the private sector.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
