InnoEnergy has launched a global call for startups in the field of electrical energy storage. Fifteen of the most innovative startups in the field of sustainable energy will receive a package of services, and the best startup will win a prize of €100,000.
To support InnoEnergy's work with the European Battery Alliance (EBA), the company hopes to use the competition to attract and promote startups that are developing innovative technologies or business models for electrical energy storage.
Of particular interest are innovations in the field of electrical storage, which can be used in transport, the power grid, for distributed and mobile energy storage, to improve energy efficiency and to reduce emissions.
Two programs: The Highway™ and The Boostway™
Successful applicants will receive a place in one of the two InnoEnergy Business Start-up Programs – The Highway™ or The Boostway™ – as well as a package of support, training, services, and financing. The Highway™ takes a practical approach to supporting young startups in their market entry phase by preparing their products for commercialization. The Boostway™ helps existing startups expand their business activities.
Elena Bou, Innovation Director at InnoEnergy, says:
"As a trusted partner, we give companies the boost they need to bring their products to market. Through our unique entrepreneurial climate, we offer startups unparalleled access to everything they need to turn their innovative business ideas into breakthrough successes."
Bo Normark, InnoEnergy Thematic Leader for Energy Storage, adds:
"Europe needs innovative solutions in the field of electrical energy storage to support the decarbonization of transportation and heat generation through electrification. Our task is to identify companies with unique and innovative concepts, products, and solutions that have the potential to become part of the sustainable battery cell production value chain."
Application process in five phases
Startups can apply until October 30, 2018. The application process consists of five phases: an initial application, an internal evaluation, a five-minute video presentation, and an assessment by external experts. Following the external evaluation, 30 selected applicants will present their ideas to two juries in parallel, after which 15 winners will be selected. The winner of the main prize of €100,000 will be announced at a ceremony in February.
Applicants will be assessed according to the following criteria:
- Innovative power of the business idea
- Value proposition
- Size of the potential target market
- Scalability of the product/service
- Founding team and ownership structure
- Competitive advantage
- Potential impact
- Potential to build a partnership with InnoEnergy
