Since 2000, worldwide public investment in RE R&D it has steadily risen to close to USD 2 billion as of 2008 (IEA, 2010). “ Technology Development” refers to the demonstration and pre-commercial stage of the technology’s life cycle and is generally financed by venture capital (VC) investments. Once commercial viability has been established, they often seek to recover their investment either through a sale to established companies in the sector or through the public equity markets (Ghosh and Nanda 2010). While the R&D risk lands on the shoulders of the competitors, they have freedom in the way they approach innovation and the competition process is sometimes easier than applying for public grants (contracting, reporting, control). Newell and Wilson (2005) focus on inducement prizes in the US targeted at the middle stages of the technological change process: applied research, development, and demonstration and present considerable evidence that technology prizes have a role to play in the portfolio of inducement mechanisms available to spur climate change-related technological advances.