Cutting edge investment philanthropy from the search engine’s .org arm

Joel Makower brings news of an interesting and innovative initiative (an III, if you will) from Google.org, the search company’s non-nonprofit philanthropy arm. They’re sending out an open call asking inventors and entrepreneurs to pitch them on products and services that would speed the commercialization of plug-in hybrids. There’s $10 million in investment capital waiting to be divided among the winners.

Says Google:

We welcome and expect to receive submissions from a wide variety of companies — from cutting edge battery technologies to innovative service businesses – and from companies of all sizes. We also encourage participants from all over the world to submit proposals. This is a global challenge, and it will take all of us to solve it.

So if you’re out there and you’ve got something you think could help make plug-in hybrids a reality, put together a five-page proposal and get it to Google by Oct. 15.

Good luck!