June 17, 2005 — Organizers of the second annual International and North Coast Nanotechnology Business Idea Competitions announced they are accepting submissions for the 2005 event, which will award winners $150,000 in prize money in October. The competition seeks to encourage the development of business ideas that will commercialize nanotechnology research being done around the world.

Submissions are due September 15 and an awards ceremony for the winning teams will be held October 21 in Cleveland. The winners will be chosen by a panel of judges from the entrepreneurship, business, financial, and academic communities. The panel’s decisions will be based on the ability of the business ideas to fill a market need and be commercialized.

There is a fee of $100 for each entry a team submits, and there is no limit to the number of submissions a team may enter.