Biotech Beach Bum

Here the $10,000,000 prize for algae biofuels is interesting, and so is the hybrid funding model – venture capital up front, an investment stake and also the prize for the winners. The combined package looks quite attractive in an economy where IPOs are almost impossible.

http://www.xconomy.com/san-diego/2009/04/28/prize-capital-moves-closer-to-creating-10-million-algae-fuel-prize/