EDP Open Innovation 2018: over 200 project applications
EDP/Expresso entrepreneurship program received applications from 34 countries
EDP Open Innovation - the acceleration project that brings together EDP and Expresso - is back. This year's edition - whose acceleration partner is, for the first time, Beta-i - received 210 applications from 34 different countries.
At a time when innovation and technology are playing an increasingly important role in the energy sector, the EDP/Expresso acceleration program is looking for innovative projects that can make a difference in a changing market. This year's edition will focus on startups dedicated to innovation in the field of energy and major industry trends: decarbonization, decentralization, and digitization.
The most represented areas are Clean Energies, Digital Innovation, Customer-Focused Solutions, Smart Grids, and Energy Storage. Taking a closer look, we can see that 20% of these startups are already in the prototype stage, with 19% already generating revenue; 8% are in the product stage without customers, and 4% are still in the design stage.
Now in its seventh edition, EDP Open Innovation seeks to challenge entrepreneurs to take their business ideas to the next level. EDP Open Innovation merges the Energia de Portugal Program with the EDP Inovação Award, two 10-year-old EDP/Impresa Group programs that have already allocated over €500,000 to innovative startups.
Now that applications are closed, the jury will choose the ten best startups, which will move to Lisbon in October. Here they will benefit from an intense acceleration program held by EDP Starter and Beta-i.
This is a success story which over its six editions has helped accelerate many startups by giving them the tools they need to grow. This is evinced by the fact that the competition attracted applications from 34 countries - from the US to Macedonia and Nigeria - focusing on several innovation areas. According to EDP Inovação Executive Committee Member Luís Manuel, "This will be a very challenging 7th edition for everyone."
The best team will be awarded a €50,000 prize, and the three best-ranking teams will have the opportunity to attend Web Summit, the largest technology and entrepreneurship event in the world.
In addition to the money prize and the opportunity to attend Web Summit - the world's largest showcase for such startups - the projects that fit into EDP's strategy and business model will have the opportunity to join a unique ecosystem in Portugal, with a coworking space, mentoring, and cross-cutting services in Portugal, Spain and Brazil. “EDP Starter has been helping connect the most promising startups to the most innovative energy utilities,” says the EDP Inovação manager.
More information on http://www.edpstarter.com.
About EDP Open Innovation:
EDP Open Innovation is an acceleration program for the development of new business projects focusing on technological innovation or innovative business models for clean energy technologies. An EDP/Expresso partnership, this program merges the Energia de Portugal project and the EDP Inovação Award (both running in Portugal and Brazil). Leveraging this international experience, this year the time has come to open applications worldwide. The jury was selected from three key EDP geographies: Portugal, Spain and Brazil.