"Peter has had an incredibly successful career, but we're younger and we're developing a new concept, " says Michael Morton, a Chicago restaurateur.

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According to one industry insider, the real amount of time available when other features of the solicitation are factored in is 18 months, which is a lot less time than General Motors would spend on developing a new vehicle concept like the Volt.

FORBES: Why The Army's New Combat Vehicle Is Doomed

Last week, in a severely redacted FCC filing by Google we learned that Google is asking to proceed with a new wireless concept it is developing that will use the very same 2.5 Ghz spectrum that Clearwire has and that everyone has disparaged for years.

FORBES: Cash Poor Clearwire Is Rich In Technological Excellence

Previously we wrote about developing a concept for a new media business.

FORBES: How to Incubate A Media Business -- Appealing to an Audience

Concept grants are grants awarded in the hopes of developing new and innovative ways of fighting a disease.

FORBES: MPN Research Foundation Is Awarding $100K Concept Grants To Combat Myelofibrosis