Free Electrons, the first global energy startup accelerator program, that connects the world’s most promising energy startups with leading utility companies had its first Module last week, from 21st – 24th of May, in Columbus, Ohio, the home of one of the utilities that backs the program (American Electric Power).
After a Bootcamp where the partners and startups got to know each other – utilities getting to know in detail the potential of having these innovative disruptive solutions applied to their businesses and Startups collecting valuable feedback about their products, features and roadmaps – Module 1 was all about creating the first pilots.
The right number of pilots
After one-on-one meetings and sharing of pilot tools by the Beta-i team, the startups and utilities collaborated on co-designing their pilot project, kicking off the project on the very next day.
The fit between the startups and utilities was so great that they ended up doing more than one pilot per startup, racking a total of 27 pilots among them.
The pilots tackle different issues from green-energy certification to asset management powered by AI to optimization of renewables forecasting, and address both final consumers, SMEs and other entities involved (insurance, for example).
The Next Stop
The next stop in the Free Electrons program will be Hong Kong, from 25th to 28th of June. With some collaborating experience under their belt, the teams will deep dive into the details of each others’ solutions.
The progress and findings of the pilots kicked-off in the first modules will be presented – as sharing knowledge and findings as always been key in Free Electrons program.
Startups and utilities will now have the chance to tailor their projects a little better to the utilities’ needs and kick-off more pilots.
We also expect to see a better definition of the scope of potential pilot projects, and a strong connection with the local ecosystem as the module offers an immersion in the world’s leading cleantech innovation ecosystem, connecting startups to the epicenter of the technology world.
Taking the first steps in the entrepreneurial ecosystem can be daunting – the lingo, the fast pace, the new technologies. But worry not, we have a handy guide for any non-entrepreneur about what they need to know to navigate #LIS and what can they take advantage of.
What is #LIS?
Lisbon Investment Summit is an a surprisingly informal and slightly unexpected startup conference. The motto of the event? #nobullshit. That means business. During these two days, #LIS will promote thought-provoking conversations, will join at the table the most disruptive innovators and the most seasoned investors, and completely change the way you think about your business.
Get to know the lingo
If you want to blend in, you need to dominate the lingo. This is important to make sure you understand where each other attendee is coming from – a startup in the seed stage or raising a series B are not in the same position – which means they also have different things they can offer and are looking for different things. It’s easier than it sounds – we made a little dictionary of what you need to know – find them here and here.
Inspiring Talks
At #LIS you will get access to thought-provoking keynotes, given by world-renowned speakers. That is the case of the #LIS headliner, Andrew Kween, best-selling author of “How To Fix the Future”, who will speak about the dangers of a digital world and how can we overcome them. Maybe some of the talks about disruption will be a bit scary – especially if they fit your sector – but take the chance to be open to learn what chances are taking place – and how to take advantage of them. Check out the agenda of talks here.
Workshops
The workshop stage powered by Google, is the perfect place for you to learn new ways of doing things, from tools to digitize your business, to identifying business opportunities – get your hands ”dirty” in innovation.
Pitch Competition
The pitch competition is where up-and-coming startups (previously selected by the LIS team) pitch on stage to a crowd of angel investors and corporate venture capitalists, looking for investment or new clients. Why should you watch the live pitches? Well, for one, any of these startups could be disrupting your business, so you should keep an eye on them. But also, their new technologies might bring incredible advantages to your business – and they will most likely be open to partnerships, so take the opportunity to get to know them.
Unexpected Side Events
One of the best things at #LIS are its side events. Sure there are spectacularly fun parties, but it’s the unexpected that makes it fun, like in Dinner With a Stranger – you just have to sign-up and get selected to meet a curated group of people in a fabulous Lisbon restaurant. You never know who could meet – maybe your next business partner, maybe someone who inspires you to venture into your own business idea. We promise you one thing – it will be memorable. Wait no more – get your tickets to #LIS19 here.
Last Friday, at our weekly TGIF (you should come!), I spent some time talking with Lisbon Challenge teams. We exchanged some feedback about the program, and at a certain point one of the founders mentioned it to me: “I feel like you really care”. And I thought about it for a minute and realized – we really do.
Lisbon Challenge is Beta-i’s flagship accelerator program, and one of the most recognized programs in Europe. It inherited Beta-i’s people-centric approach – we are “humaniacs” at heart and we convey our approach in Lisbon Challenge program as well.
Lisbon Challenge’s people-centric approach
The people-centric approach is not about just about caring about the founders (which we do!), is about how a human-centric perspective applies to their business in order for it to be the best it can be.
In the 10 weeks of the program, we contaminate the founders with this human-centric perspective and help them better understand and develop:
Who are you building a solution for
The starting point of a good startup is the will to solve a problem you identify – and also the will to know the people whose problem you’re solving. That means gaining a deeper knowledge of your audience through an ethnographic mindset in order to find a product/market fit.
Who are you building a solution with
The road is hard – but you won’t be doing it alone. The culture you build for your company will be determinant to the success of it. The core values you choose and the expected behaviors that embody them will be your guide to decision making, hiring people, dealing with users and other business partners, so building a culture from scratch is the foundation of a winning team.
Who you are as an entrepreneur
Having a startup is probably the toughest business there is. You’ll be constantly challenging your own assumptions, facing inconvenient truths and constant “no’s”. Our methodology is focused not only on growing your business but also in preparing you to transform difficulties into learnings and to see problems as opportunities. As your business grows, so will you – we’re here to get you ready to face the demands of different startup stages.
In the words of Eduardo Sette Câmara, our Head of Acceleration:
“The legacy we’re trying to build with Lisbon Challenge is to find and help founders that can build their companies while taking into consideration everyone that revolves around them.”
What does our people-centric approach mean? Here's what Eduardo Sette Camara, our Head of Acceleration had to say!
Publicado por Lisbon Challenge em Sexta-feira, 24 de maio de 2019
By the end of the video, Eduardo lets us know that as long as founders put in the work, we’ll always be here, doing our best to help them. And if you ask any other Lisbon Challenge alumni, you’ll realize it’s true.
UX Design is trending everywhere, and it’s no wonder – a comprehensive report on the impact of UX Design has shown that companies which invested the most, and who considered themselves to be fully user-centric, saw their sales increase by a staggering 75%.
Effectively, sales are one of the ways to measure the success of a design – but not the only. It can also be measured by other KPIs – such as retention or even the completion of a task – that can tell the designer if the experience if effective or not.
While designing, there are a few principles that can be followed to guarantee a better experience for the user, mostly used for interface design but also applicable to any kind of experience.
They are called heuristics and they represent cognitive shortcuts or rules of thumb that simplify decisions, and represent a process of substituting a difficult question with an easier one.
The 10 usability heuristics
1. Keep users in the know
The system should always keep users informed about what is going on, through appropriate feedback within reasonable time.
Have you ever unsuccessfully tried to upload something without knowing if it’s being uploaded or not? No? That’s because the designers understand the “Visibility of system status“, which means giving the user the understanding of the task completion – hence the existence of loading bars, or the sound of a message sent.
2. Make sure the user understands
The system should speak the users’ language, with words, phrases and concepts familiar to the user, rather than system-oriented terms. Follow real-world conventions, making information appear in a natural and logical order.
This rule is about matching the system and the real world – make the experience familiar to the user. That is why the trash icon on our computers is actually a trash bin.
3. Make an Exit Simple
Users often choose system functions by mistake and will need a clearly marked “emergency exit” to leave the unwanted state without having to go through an extended dialogue. Support undo and redo.
This is about giving your user control and freedom – to go back and alter the info on a form, to cancel an upload that is too heavy, to leave a task they don’t want to complete. Designers take it to the next level by helping us avoid or undo our mistakes – asking us if we’re sure we want to leave the page, or creating auto-saves that help us go to a previous version of our document.
4. Consistency and Standards
Users should not have to wonder whether different words, situations, or actions mean the same thing.
Consistency is key – to make the users experience easy, information of the same kind should not be presented in different ways. “Buy” buttons should look the same across a website. It’s also important to adhere to external conventions – profile settings are usually available in the top right corner, and FAQ pages look pretty much the same across different websites.
5. Error Prevention
Even better than good error messages is a careful design which prevents a problem from occurring in the first place. Either eliminate error-prone conditions or check for them and present users with a confirmation option before they commit to the action.
Designers can delight users by helping them to not make mistakes – that’s why google search helps you correct grammatical mistakes and gmail does not let you live through the embarrassment of sending a second email with a forgotten attachment.
6. Recognition not recall
Minimize the user’s memory load by making objects, actions, and options visible. The user should not have to remember information from one part of the dialogue to another. Instructions for use of the system should be visible or easily retrievable whenever appropriate.
Basically, don’t make users memorize things. Google search suggests similar searches and Amazon lets you see your recently browsed items and similar objects.
7. Flexibility for newbies and experts
Accelerators — unseen by the novice user — may often speed up the interaction for the expert user such that the system can cater to both inexperienced and experienced users. Allow users to tailor frequent actions.
Experiences must be doable for both newbies and experts – that’s why designers create shortcuts. Experience users will skip tutorials, but use advanced settings (usually partially hidden to not hinder newbies). In real life experiences, escape rooms usually add extra clues for newbies, to help them make logical connections that heavy users already know.
8. Aesthetically pleasant and efficient
Dialogues should not contain information which is irrelevant or rarely needed. Every extra unit of information in a dialogue competes with the relevant units of information and diminishes their relative visibility.
This guideline compels us to use only needed information. Interfaces need to be cleared of unnecessary elements and content that do not support the page goals and tasks, so this is where prioritization comes to play. This rule is also the reason very minimalistic design – like the one used by Google – is wildly successful.
9. Help users recognize, diagnose, and recover from errors
Error messages should be expressed in plain language (no codes), precisely indicate the problem, and constructively suggest a solution.
Have you have repeatedly try to submit a form that says some information is wrong but won’t tell you which information is wrong? Ideally the user should be informed accurately of what is wrong.
Another important layer is the identification of solutions – if the password is wrong, a good design would suggest you a link to password recovery.
10. Help and documentation
Even though it is better if the system can be used without documentation, it may be necessary to provide help and documentation. Any such information should be easy to search, focused on the user’s task, list concrete steps to be carried out, and not be too large.
Ideally, users should not need helpful documentation if the design is great. Still, it’s important to create useful documentation to clear any doubts. This documentation should be accessible and clearly structured to help users find the help they need.
Heuristics are a handy guide for UX Designers, as they mostly applicable to any web & mobile applications. You can also use them, or versions of it adapted to other types of experiences. The trick is to always put yourself in the user’s shoes!
The Portuguese startup and Lisbon Challenge alumnus, 360imprimir, just closed a round of $20.4M in investment.
At Beta-i, we are proud to see their success, as they were one of the first startups that joined one of the earliest editions of our acceleration program – Lisbon Challenge. Like Pedro Rocha Vieira, Beta-i’s founder and CEO, put it:
When we decided to launch Lisbon Challenge, the idea was to empower a new generation of entrepreneurs and companies, in order to give these actors the ideal tools to compete in the global digital market. 360imprimir was one of the first startups that went through this process, and it is with great pride that we have noted its success story ever since. Naturally, the fact that they have now raised an investment of €18 million is due, in the first place, to their great management, vision and execution. But I’d like to believe that part of this success also came from the training Lisbon Challenge gave them, of which Uniplaces, Eggy, Attentive, Knok, Impraise, Sparkl or Eat Tasty are also good examples. I hope that this round will open new horizons for them, but I believe that it will also allow them to contribute actively to the ecosystem, fueling a kind of virtuous cycle that Lisbon Challenge helped to start.
Sérgio Vieira, CEO and co-founder, also praised Beta-i for the work done in the portuguese entrepreneurial ecosystem, highlighting the role that Lisbon Challenge played: “For us, as an early stage startup LC gave us the opportunity to see other groups with different realities and different solutions to problems that were ours too. Moreover, the mentoring and pitch sessions played an important role in self-evaluation and communication positioning.”
“Since LC we have observed closely the role of Beta-i in the Portuguese ecosystem and praised their effort to keep pushing the startup scene to the next level – this also happened with 360imprimir.”
Created in 2013, 360imprimir is an e-commerce platform focused on the clients’ (SME’s and independent professionals) do-it-yourself method and delivery of quality and low-cost of printed communications. Operating on a fabless model, the company differentiates through technology: it has an intelligent aggregation software, that ensures the best prices in the market for their clients.
With a business based on technology – from the platform and its many mechanisms to the technology made available to production and logistic partners -, the company will continue to invest in technology and R&D.
In rapid development context like ours, we have to be one step (or two!) ahead of the challenges, so that we may be enablers of the market. 360imprimir is a tech and innovative company, so we’re always updated on the most recent trends in Performance, Scalability, Automation, Artificial Intelligence or Augmented Reality. It’s our DNA and what makes us unique. – Hugo Neto, Chief Technology Officer at 360imprimir
This investment will also give 360imprimir the chance to extend their product range with 20.000 new products and enter 17 new markets.
The company hopes their path will be an inspiration for other portuguese businesses to follow:
“360imprimir is the proof that every company can achieve success if the idea is different and adds value to customer experience. So yes, we believe that our path inspires other entrepreneurs to develop great and innovative ideas.” added the CEO.
José Salgado, CO-founder and Chief Growth Officer at 360imprimir, will also be at Lisbon Investment Summit to speak on a panel that is of interest to all startups following in their footsteps – Scaling Up: Tips and Tricks to Go Global. Get your tickets to LIS here.
It was during SIBS Payforward Bootcamp, the fintech accelerator powered by SIBS and Beta-i, that ReThink met with Maria Antónia Saldanha, SIBS PAYFORWARD’s Program Director and Head of Brand & Communication at SIBS, to speak about the fintech ecosystem and what are the challenges it wants to tackle.
SIBS is now a major player in the market, with 300 million clients and present in Iberia, Africa and Eastern Europe, but how did it all start? SIBS was created 30 years ago, with the help and collaboration of different companies from different industries. The goal was to serve the digital economy, which didn’t even exist yet.
“SIBS grew up as a fintech in a time where the word fintech didn’t even exist.”
According to Maria Antónia, a collaborative and cooperative model is the only way to “do things”, so SIBS has created an ecosystem of a lot of companies, all the banks, and different industries from different countries. Because of this, the payment services provider still moves with the same spirit as a startup: “SIBS grew up as a Fintech in a time where the word Fintech didn’t even exist. We were brought up as a Fintech, we work as a startup – we’re very agile, dynamic and innovative, launching every month a new service or product.”
It was their own history and this understanding that it takes collaboration to innovate, that made SIBS decide to keep the circle going, by fostering innovation inside and outside their walls: “Well, SIBS was created with the help and collaboration of different companies from different industries, so it’s time to pay it forward. It’s our chance to do for others what they did for us. To help, to share knowledge, to share expertise. It’s a way for us to help other companies to grow and to accelerate in order to become as big as SIBS”, said the program director.
The program looks for scalable, innovative solutions that can complement SIBS offer or grow exponentially from it, by taking advantage of SIBS large user market: “When we launched the accelerator for Fintechs it was the first national accelerator focused on payment solutions. The main goal was to attract fintech startups that have solutions for payments, or financial services, or complementary services around financial services so we can boost them in order to provide services either in Portugal or in other geographies where SIBS is, mainly in Africa for instance or Eastern Europe.”
The challenges that the accelerator proposes to solve in collaboration with the startups are, according to Maria Antónia, “the challenges that society faces every day. We’re focusing on Client behavior and Analytics, Security and Authentication, Payment Processes and Payments and Future Stores.”
The accelerator is committed to solve these challenges by working in complete collaboration with the startups – for the four days of the Bootcamp, the startups worked in groups with SIBS mentors – collaborators that could give them insight into the processes that go into SIBS services and technical experts who can help the startups incorporate their technologies in practical terms – and ultimately help them propose more viable, interesting and profitable pilot projects. All this is done within SIBS environment, to allow for better sharing of knowledge and understanding of the business: “We’ve acknowledged that they want to get to know us where we are every day, where we are working on innovation every day – where we have our terminals, our ATMs, our POSs, and all of our teams. So this is something that we’ve managed this year, to bring startups inside SIBS, so they’ve been working during these days in our premises, alongside us, where we work every day.”
When questioned about the future of fintech, SIBS concedes they cannot guess it, but they can be a part of it by keeping innovating inside their business and fostering innovation in the financial market: “We don’t know how the future is going to be, we don’t know how fast the future can grow, but we know that if we work together – startups, corporates, associations like Beta-i, we can move faster, we can grow faster, and we’ll probably have more products, more solutions that make us brighter and our lives more efficient.”
On its third edition, SIBS Payforward is the fintech accelerator powered by SIBS and Beta-i. You can follow the news and the projects being developed by following SIBS Payforward on Facebook and subscribe to Beta-i’s newsletter.
