Smart Energy Innovation Challenge – Top 10 impress at Cleantech Venture Day
Top 10 teams of the Smart Energy Innovation Challenge pitched their ideas to a full house at Cleantech Venture Day in Lahti. In October, the best two will compete for victory in London.
In March 2018, the Smart Energy Innovation Challenge by Grid.vc, Nord Pool, Fingrid, Lahti Energia and Nordic Innovation Accelerator called energy visionaries to action, inviting ideas for smart energy usage without the formation of demand clusters. The call was answered in impressive volume, with 24 high-quality applications from 8 different countries leaving the selection board of the challenge all but spoiled for choice. After a comprehensive review of the applications, Bubble, Cation Ltd, DEPsys, Greenbird, GreenPocket, Virta Ltd, VoltStorage GmbH, Xigrid Technology, Zero Hertz Systems and 3A made the narrow cut.
“The top 10 were selected based on the perceived potential, scalability, originality and innovativeness of their idea, rather than established business model, or even a conclusive proof-of-concept”, describes Nicholas Sharaf, data and analytical services manager at Nord Pool, “The resulting range, from research teams taking their first steps to commercialize their idea, to internationally operating companies with several dozens of employees, makes this challenge all the more interesting”.
In Cleantech Venture Day Lahti on June 13th, the teams pitched their ideas to a corporate jury, drawing in a full house of fascinated spectators. While DEPsys, Virta Ltd and Zero Hertz Systems were the jury favourites of the day, all 10 teams are still in the running to the grand finale of the challenge, taking place in Cleantech Venture Day London October 30-31st. During the months leading up to London, the teams are able to further develop their ideas and business models, with the help of the world-class mentors of the challenge.
“Anything can still happen, as some of the teams are only beginning to explore the full potential and different applications of their initial concepts”, Heidi Uimonen, electricity market specialist at Fingrid ponders. “Few months is a long time particularly in early product development, and we’re thrilled to see the results in Autumn”, adds Juha-Pekka Moisio, business development manager at Lahti Energia.
Stay tuned for the exciting next steps of the challenge on Twitter @NIAccelerator, @NordPool_energy, @Gridvc, @LahtiEnergia and @fingrid_oyj