WASHINGTON, May 3 (UPI) -- The U.S. Department of Commerce has announced a $12 million innovation competition designed to drive technology commercialization and entrepreneurship.
The Commerce Department Office of Innovation and Entrepreneurship and its Economic Development Administration said the "i6 Challenge" will be held in partnership with the National Institutes of Health and the National Science Foundation.
Officials said up to $1 million will be awarded to each of six U.S. teams with the most innovative ideas. The NIH and NSF will award up to $6 million in additional funding to Small Business Innovation Research grantees associated with winning teams.
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