edp news

EDP has 45 million euros to invest in startups

Monday 05, November 2018

The company returns to the Web Summit looking for business partners

EDP is looking for startups with innovative ideas that add value to the group's business, and has 45 million euros available to invest in the most promising projects. Through EDP Ventures, the group has three investment funds available: one for Portuguese startups, another for projects in Brazil and a third worldwide project. Since it was created, EDP Ventures has already invested 27 million euros in 8 different geographical areas, one of which was discovered at the Web Summit.

By continuing this strategy, EDP will be present for the third time at the largest entrepreneurship and innovation event in Europe. This year, the company wants to take the startups' ideas to another level: to succeed, enter the EDP Elevator Pitch, and in just one minute, you will be able to show your project to a company officer. The goal is to replicate the well-known concept in the entrepreneurial panorama - the elevator pitch - in which someone with a business idea enters the elevator of their company and finds the CEO inside. It is a unique opportunity to be able to spark business opportunities with a quick and convincing conversation. 

And, since innovation and investment are the priorities of the presence of EDP at the Web Summit, those with the best pitches given in the elevator will be invited to the "EDP Innovation Lounge", where the startups will be able to show their ideas in depth. Those who have projects that fit EDP Group's business areas may become partners. The focusing areas are: clean energies, customer focused solutions, energy storage, smart grids and digital transformation.

The figures that resulted from two editions of the Web Summit in Portugal speak for themselves: EDP has heard about 400 pitches in the last two years, selected more than 100 for business meetings, launched 20 pilot projects with these companies, and invested in three startups, one of them from Israel (Aperio), working in the field of cyber security solutions.