EDP has 45 million euros to invest in startups

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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.

 

"Ten years ago in EDP, we started recognizing that the big companies can no longer discover the future alone. Since then, we have positioned ourselves as a company that defends the spirit of sharing and practices open innovation, with business partners who help us to face the challenges in a sector that is in the process of total revolution. The Web Summit is the ideal opportunity to meet, in just three days, dozens of startups with whom we can work and invest", said António Mexia, CEO of the EDP Group.

EDP Group, through EDP Starter and EDP Ventures programs, supports the development of startups that have the potential to add value to the company's business. Therefore, this year, it will bring 13 startups to the event, so that they can have access to the largest European entrepreneurship storefront. This year, the chosen ones will have the chance to exhibit themselves during the three days of the event, to participate in round tables and to access professional counseling sessions and workshops. 

Four national startups in which EDP has already invested were invited (Glartek, Jungle, Loqr and EGG), and the remaining ones have been discovered in other countries where the group has a strong presence: Spain (DotGis, eSave, Carto and 4Securitas) and Brazil (Delgos and 4Vants). The three finalists of the EDP Open Innovation program are also going to the Web Summit: Samawatt (Switzerland), Ezzing (Spain) and Ecolibrium (India).

Web Summit visitors can also find information about EDP Innovation's work at EDP Innovation space, with all phases of entrepreneurship support and explanations about the startups acceleration programs developed by the group: EDP Open Innovation and Free Electrons. It will be a real immersion into this world, thanks to a structure that invites participants to enter giant cubes, where they immerse themselves in a 360º experience. Keeping in mind that sharing ideas is one of the most important things in the Web Summit, EDP also created an interaction area in its space that reflects one of the most important commitments of the company: sustainability.

List of startups attending to the Summit Web with EDP:

  • Glartek (Portugal): Diagnosis of problems with augmented reality technology, facilitation of industrial maintenance;
  • Jungle (Portugal): Artificial intelligence, with predictive maintenance projects;
  • Loqr (Portugal): Specialized cyber security in artificial intelligence to protect client accounts; 
  • EGG (Portugal): Innovative dock which can charge 15 devices + 2 USB simultaneously;
  • Delphi (Brazil): Machine learning to preventively identify possible problems in wind farms;
  • 4Vants (Brazil): Analyzis and identification of drone images through artificial intelligence;
  • Carto (Spain): Construction platform for localization applications;
  • DotGis (Spain): Geospatial data analysis for industrial customers;
  • ESave (Spain): Extraction of information and other data from images and photos, through optical recognition;
  • 4Securitas (Irish, EDP Starter Spain finalist): Protection of digital data from companies at risk of cyber attacks;
  • Samawatt (Switzerland): Development of an algorithm that can combine sudden changes in energy prices to the climatic oscillations, on which renewable energies depend;
  • Ecolibrium (India): Platform that allows companies to anticipate problems and save on maintenance costs;
  • Ezzing (Spain). Development a digital platform that facilitates business management operations.

Know more about EDP's presence at the Web Summit.