Web Summit - EDP places 13 startups at the world's entrepreneurship showcase

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Web Summit - EDP places 13 startups at the world's entrepreneurship showcase

Monday 06, November 2017

The company attends once again Europe's biggest technology, entrepreneurship and innovation event.

EDP is at the Web Summit and is taking 13 startups to the event from November 7th to 9th, transforming Lisbon into an international showcase for entrepreneurship. These startups will be at the Web Summit exposing their projects, in a unique opportunity for networking and business growth.

Ten out of the 13 startups were selected by EDP from among the 19 that are currently integrated on EDP Starter - the company's incubation and acceleration program. They are: Black Block, Agroop, BeOn, EGG, Glartek, Ionseed, Pro-Drone, Sentimer, Nesto and Delphi (Winner of EDP Open Innovation in 2016), having projects focused on Big Data, Internet of Things (IoT) energy, solar energy, storage and distribution of energy. These startups will be part of the Web Summit’s ALPHA program and will have access to an exhibition area, mentoring, workshops, participation in round tables and contact with investors.

The remaining three startups are the top 3 finalists of the EDP Open Innovation that were announced in the grand finale of this acceleration program that took place on October 26th: Rated Power, Cosol and Invoice Capture. EDP Open Innovation aims to support technological entrepreneurship focusing on energy and its multiple variants, including Big Data, IoT, Machine Learning, AI and Data Analytics. Last year, the program expanded to Brazil and Spain.

In addition to the 13 startups, EDP will also take to the Web Summit its desire to learn more ideas in which to invest, intending to select at its stand startups that have potential within EDP’s business. This choice will be made at the Carousel Pitch, a mechanic that started last year and had a huge success.

Every day, the 10 best pitches will be invited to the "EDP Innovation Lounge", where startups will be able to present their ideas to EDP managers. "The Web Summit is an unique opportunity for EDP; we are living in an era of technological convergence where information and communication technologies are of growing importance; for companies in the energy sector, it is increasingly important to incorporate Big Data developments, IoT, Machine Learning, AI, among others; it is vital that we seek innovative solutions in these and other fields and that we have the ability to identify and support emerging companies with innovative concepts that want to work with us; there is no better place to look for talent and identify these opportunities” says António Vidigal, President of EDP Innovation.

EDP, through EDP Innovation, is committed to an open innovation philosophy, seeking disruptive technologies and business models for the energy sector. Thereunto, two instruments were created: EDP Ventures (venture capital fund) and EDP Starter (acceleration program for technological startups).

To date, about 30 startups have been supported by the company, some of which have been the subject of investment by EDP Ventures. Altogether, this ecosystem should reach a turnover of more than € 60 million by the end of the year and involve more than 350 jobs.

Entrepreneurship and innovation are integral parts of the EDP Group's strategy, so the Web Summit is a unique opportunity for the company and for all the startups present.

Follow our Web Summit presence at Innovation at EDP facebook page.