The size of the monetary prize must be scaled to the amount of money that the companies are expected to spend on research for these batteries. In the U.S. Department of Energy budget for FY 2015, there was 83 million dollars set aside for battery research, mostly for transportation application ("VEHICLE TECHNOLOGIES OFFICE - Department of Energy", 2015). This budget is for research of much larger batteries for electric vehicle applications, but it gives an idea of the costs of battery …show more content…
Throughout these phases, the companies will remain in contact with the leaders of the competition in order to monitor progress and competition feasibility. The research and development phase will be the longest phase of the three and will require constant monitoring to determine if the allotted time is appropriate. The competition should provide enough time for the companies to make significant advancements in battery development. Through this competition, battery technology will be improved significantly, thus improving the quality of life of all future recipients of implantable medical devices. The following subsections will be used to give a detailed description of the overall process of the