University of Arkansas Team Wins Cleantech Open People’s Choice Award

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Winners of the 2010 Cleantech Open “People’s Choice” award include Silicon Solar Solutions team members, from left to right:, Stephen Ritterbush, Brent Bertelsen, Douglas Hutchings and Seth Shumate.

FAYETTEVILLE, Ark. – Participating as a finalist in the Cleantech Open business plan competition, Silicon Solar Solutions LLC, a University of Arkansas research-based start-up, received the “People’s Choice” award at the Cleantech Open National Awards Gala and Expo, held in San Jose, Calif., on Nov. 17.

The Silicon Solar Solutions team includes Stephen Ritterbush and Brent Bertlesen, recent graduates from the Sam M. Walton College of Business; and Douglas Hutchings and Seth Shumate, graduates from the microelectronics-photonics program in the College of Engineering. Carol Reeves, associate professor of management, mentored the team.

“We made our presentation in front of 2,000 investors, entrepreneurs, and legal and business professionals, which landed us the People’s Choice Award,” said Hutchings. “We opened up a ton of opportunities and look forward to maximizing the value of these connections over the coming weeks.”

The company's proprietary technology to crystallize amorphous silicon into large-grain poly-silicon has applications in wafer-based and thin-film silicon devices. Demonstrating grain sizes 150 times larger than traditional processes, Silicon Solar Solutions' technology eliminates processing steps and material, and has the potential to reduce the cost of silicon-based solar cells by 42 cents per watt.

In March of this year, 271 teams across five regions submitted entries and were selected to compete in the 2010 Cleantech Open. Eighty-one of those teams made it to the semifinals, and Silicon Solar Solutions is the first company from Arkansas to be selected as a finalist.

Since the first of 2010, Silicon Solar Solutions has won more than $70,000 in cash and $40,000 in in-kind awards in business plan competitions around the country, including the grand prize at the Dragon’s Den event, sponsored by the Young Presidents’ Organization; first place in the Licensing Executive Society Foundation Graduate Student Business Plan Competition; second runner up in the Global Moot Corp Competition at the University of Texas; first place in the Global Venture Challenge, Oak Ridge National Laboratories; first place in the Stuart Clark Venture Challenge, University of Manitoba; third place in the Arkansas Donald W. Reynolds Governor’s Cup Graduate Division Competition; third place in the WBT University Technology Competition; third place in the New Venture Championship, University of Oregon; and second place in the Continent Business Plan Competition.

For their win at the Stueart Clark Venture Challenge, the Silicon Solar Solutions was also invited to ring the closing bell at NASDAQ last August.

"Our judging process is very intensive and rigorous," said Justin Kaster, regional director of the Cleantech Open's North Central Region. "One of the most important criteria is investment potential. Silicon Solar Solutions demonstrated that their technology has excellent business potential and tremendous competitive advantage." The company's technology directly addresses five of the seven key areas identified by the U.S. Department of Energy in its Solar Technology Roadmap.

The Cleantech Open is the world's largest clean technology business competition. Its mission is to find, fund and foster entrepreneurs with big ideas that address today's most urgent energy, environmental and economic challenges. The 2010 Cleantech Open competition offered more than $1 million in total prizes and aims to create 100,000 green-collar jobs in America by the end of 2015 with its "100K Jobs Challenge." Currently, 22 states participate in the Cleantech Open program, and over 30 states are expected to contribute companies to the program in 2011.

“We are very optimistic about the future of Silicon Solar Solutions,” said Hutchings. The company has raised more than $500,000 and is making pitches to investors. It is working with the University of Arkansas Technology Licensing Office and opened an office in the Genesis Technology Park. The company is continuing to optimize this and other technologies that will hopefully revolutionize solar panel manufacturing.