Did you know there's an ongoing federal grant program for U.S. college and university students that are working on so-called "P3" ideas? P3 stands for "People, Prosperity and the Planet," which are concerns fundamental to ideas of sustainability.
The money is given out by the U.S. Environmental Protection Agency and seeks to help support research and development projects that involve the overall sustainability of human society. The projects must have these mutual goals in mind: economic prosperity, protection of the planet and improved quality of life. There are approximately 40 $10,000 grants given out in Phase I, which is sort of a proof phase. After each of those teams works on their project for eight to a year; the projects are judged and about a half-dozen receive another $75,000 for another two years.
And this one lists the winners who were highlighted earlier this spring. There are some short videos you can watch about each one at the link I've provided. I think it telling that of six top submissions, two are focused on biodiesel production techniques and three are focused on addressing the planet's water supply.