Water Power Innovation Network

The U.S. Department of Energy's (DOE) Office of Energy Efficiency and Renewable Energy (EERE) is issuing a $4.8 million Funding Opportunity Announcement (FOA) for the "Water Power Innovation Network" program. This FOA seeks to fund new or expanded incubator and accelerator programs that enable entrepreneurship and accelerate innovation, business creation, and growth in the water power sector, including both marine energy and hydropower technologies. The FOA focuses on a single topic area - Water Power Incubation and Acceleration - that will provide programming and services to support entrepreneurs and small businesses. Concept Papers are due by August 28, 2024, and Full Applications are due by October 23, 2024.

EERE anticipates making up to 8 initial awards of approximately $100,000 each for a 6-9 month Budget Period 1, followed by a down-select to fund up to 4 awards of approximately $1 million each for a 2-3 year Budget Period 2. All work under this FOA must be performed within the United States.