In this paper we will share our experiences of fostering entrepreneurial spirit through projects funded by EPA (Environmental Protection Agency) P3 (People, Prosperity, and the Planet) Program which hosts the P3 collegiate competition for designing solutions for a sustainable future. Since 2012, we have integrated the P3 competition with the capstone design course of Clean Energy Systems track in mechanical engineering as an effective educational vehicle for introducing the concept of sustainable design. Since the competition focuses on designs which have values of real world application, it is also a great opportunity to create entrepreneurial spirit. We have successfully turned a design from a capstone design prototype to a commercial product through the EPA P3 awards. Similar successful stories have been heard within this program. We will share our story in this paper with an attempt to encourage educators who are working on technologies with commercial viability to take advantage of this unique opportunity to grow more student entrepreneurs.