Baltic, Energy, Forum, Innovations, Technology
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Friday, 29.03.2024, 12:28
InnoEnergy launches the PowerUp! Challenge elevating innovative companies to the next level
The Swedish
unicorn, Northvolt, founded by former Tesla VPs, which received
InnoEnergy support, has a current valuation of 1.6 bn euros.
The
deadline for application submission is 5 March 2020
InnoEnergy is a co-creator, smart investor,
and industry catalyst for entrepreneurs who want a global impact and a sustainable
world. Companies which succeed to join the InnoEnergy network will get: product
enhancement, development, and pilots, commercialisation strategies,
international market introduction and expansion and further funding
opportunities.
InnoEnergy
Latvia Hub Manager
Liene Kuplā says: "Companies who participates in the PowerUp!
Challenge organized by InnoEnergy, can gain a very valuable
international experience and can prepare for new business opportunities. Last
year, the Latvian start-up ATLANT 3D won the Country Final of PowerUp!
in Latvia, and later at the Grand Final of PowerUp! in Krakow, Poland where
competing with top 14 start-ups, was awarded with the second place and EUR
10 000 prize. This high achievement demonstrates that Latvian start-ups
are strong competitors and this year's competition is open to SMEs in
particular, taking advantage of investment opportunities and consultancy from
InnoEnergy network experts to further develop and strengthen the
business."
One of the
best examples of InnoEnergy investments is Northvolt, Europe’s
largest lithium-ion battery manufacturer, with a current valuation of 1.6
billion euros. In early 2016, before they were an established company, two
former Tesla executives, Peter Carlsson and Paolo Cerruti, reached out to
InnoEnergy for support. Unlike conventional battery production facilities in
Asia, Northvolt is geared for technological excellence powered by clean
energy. Recently Northvolt raised €350m from the European Investment Bank
and is currently building the two largest green energy fuelled battery
factories Northvolt Ett in Skellefteá, near the Arctic Circle and
the Northvolt Zwei, in lower Saxony Germany.
The
PowerUp! Challenge is an opportunity for entities from Central-Eastern Europe
to become the next unicorn in the InnoEnergy portfolio. The challenge is open
to entrepreneurs at all stages of development. It doesn’t matter if you only
have an idea, looking for your next customer or planning market expansion. The
thematic areas are energy, mobility, cleantech, smart cities, but the challenge
is open for all ideas outside the box.
Exclusively
for eligible start-ups, InnoEnergy is holding a competition within the PowerUp!
Challenge with financial prizes up to EUR 65.000 and the title of Start-up
of the Year. Other benefits include participation in the Business
Bootcamps©, focusing on substantive support from international field
experts, with topics such as business planning, pitching skills or IP
protection.
To apply
for the PowerUp! Challenge you need to submit your application by 5
March 2020 via the InnoEnergy website: https://powerup.innoenergy.com
About
EIT InnoEnergy
EIT
InnoEnergy is the innovation engine for sustainable energy across
Europe.
We support
and invest in innovation at every stage of the journey – from classroom to
end-customer. With our network of partners, we build connections across Europe,
bringing together inventors and industry, graduates and employers, researchers
and entrepreneurs, businesses and markets.
We work
in three essential areas of the innovation mix:
·
Education
to help create an informed and ambitious workforce that understands the demands
of sustainability and the needs of industry.
·
Innovation
Projects to bring together ideas, inventors and industry to create commercially
attractive technologies that deliver real results to customers.
·
Business
Creation Services to support entrepreneurs and start-ups who are expanding
Europe’s energy ecosystem with their innovative offerings.
Bringing
these disciplines together maximises the impact of each, accelerates the
development of market-ready solutions, and creates a fertile environment in
which we can sell the innovative results of our work. InnoEnergy was
established in 2010 and is supported by the European Institute of Innovation and
Technology (EIT).
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