Authorizes the Secretary of Energy to provide grants to organizations to conduct business competitions that provide incentives, training, and mentorship to entrepreneurs and early stage startup companies throughout the United States to meet high priority economic, environmental, and energy security goals in areas including energy efficiency, renewable energy, air quality, water quality and conservation, transportation, smart grid, green buildings, and waste management.
Grants priority to such competitions that: (1) are led by the private sector; (2) encourage regional and interregional cooperation; and (3) can demonstrate the creation of cost-effective green jobs through an annual publication of competition activities and directory of companies.
Requires an organization, to be eligible for such a grant, to be a tax-exempt, charitable organization, or any sponsored entity of such organization that is operated as a nonprofit entity. Directs the Secretary to give priority to organizations that can demonstrate broad funding support from private and other non-federal funding sources to leverage federal investment.