by Carolina Santos | Jul 23, 2018 | Startups
The energy sector is in constant change and it’s to be on the forefront of that change that EDP in partnership with Expresso launched their seventh edition of EDP Open Innovation and for the first year Beta-i is an acceleration partner.
This acceleration program is dedicated to the development of new business projects focused on technological innovation or business model innovation in the area of clean technologies in the energy sector. So, startups centered on Clean Energy, Smart Grids, Energy Storage, Digital Innovation and focused on Client Solutions, search no more, this is the program you’ve been waiting for.
On the course of the program you’ll be able to pitch to EDP, investors and the international community, turn your startup into a potential partner, accelerate your business experience, test your solution and even run a pilot with EDP.
The applications are now open and will close on September 10, 2018. Startups will then be evaluated by an international jury. An intense selection period follows to come out with a list of 10 startups. The acceleration phase will last two weeks ending with a Demo Day, with startups pitching in five minutes. The prize money? 50,000€.
It may look like you still have a lot of time to apply, but one month and a half flies. Don’t miss this opportunity.
by Carolina Santos | Mar 8, 2018 | Startups
In the wake of Free Electrons closing its applications it’s time to speak numbers. The first global energy startup accelerator program that connects the world’s most promising smart energy startups with leading utility companies was a success. And the reason why it was a success is because everybody worked as a team, there were no time differences there was only hard-work.
515 startups from 65 countries applied to the program. From these 84 are from the United States of America, the most represented country, 30 from Brazil and 29 from India, closing the top 3. Australia had 24 applications, Spain, United Kingdom and Germany all had 23 and Portugal 14.
Luís Manuel, Executive Board Member of EDP, said “We couldn’t be happier with the applications process. The bar was set very high with 451 applications so we are very pleased to have exceeded that number. Also, 72.1% declared that they are not currently in a fundraising process, a fact that speaks to the overall maturity of the candidates. We believe that this is critical, as we are looking for innovative solutions, that can be adopted and integrated in our companies, and not only fresh ideias”.
When the program was launched the focus was clean energy, smart grids, energy efficiency, management and access, e-mobility, customer solutions and business models and the success of a program is also measured by the startups that apply and if they are a good match and looking at the numbers there are reasons to celebrate – 22% from Clean Energy, 15% IoT and Digitalization, 12% Energy Efficiency and 7% Smart Grid.
Manuel Tânger, Co-Founder & Chief Open Innovation Officer at Beta-i, believes “Free Electrons is all about harnessing potential and generating innovation, while learning in that process! This is a great opportunity for utilities from 8 different geographies to come together and create something unique, tapping into the power that startups are already generating in several different industries. For us, it’s a unique chance to demonstrate, yet again, our vision of how innovation will stem from partnerships between startups & corporates, and how it will become the new normal”.
Last year’s edition, generated an overall financial value of contracts signed between the 12 startups and the 8 utilities of about 2 million dollars, with a pipeline of ongoing opportunities surpassing 12 million dollars. The future is unknown but we’re all about exceeding numbers.
by Carolina Santos | Jan 31, 2018 | Startups
When Rui Beon, as he is now known, won Free Electrons last year he made an emotional speech that he claims “rarely happens”. He wasn’t expecting, this wasn’t an Oscar night where the winners already know they’re going to win because they’ve won everything during the award season. This was the first edition of Free Electrons. None of the startups really knew what they’re getting themselves into. They only knew that eight giant utilities didn’t come knocking on their doors every day.
But let’s start from the beginning. Rui, was just a kid when he first started inventing gadgets, and having this passion for everything electronic and that’s why he decided to study electrical engineering. Little did he know how sealed was his fate.
BeOn Energy was founded in 2014, during an innovation program from EDP and they have been working together ever since. BeOn is a company developing solar technologies and it’s the first company in the world developing and producing PV panel integrated controllable microinverters, specially designed for energy self-consumption and smart energy management solutions.
The idea is nothing new, it’s been out there for over 20 years, but only in the past 10 years there’s the technology to make it possible. Rui admits that what caught the utilities attention was the simplicity, how quickly it can be installed and the democratization of the solar energy. Also, in two years the European Union is demanding that every building has renewable energy. So BeOn, as well as its clients, will be in pole position.
Throughout the program, Rui says he never thought about the prize money, he believes that the true opportunity of Free Electrons is being able to work with some of the utilities more than winning the final prize. “Those startups are not competing for the best idea, they are there to do business”, says Rui.
However, the startups got a little too overwhelmed with the dimension of the program and kind of forgot they had to work towards a goal. He believes all of them could have done better but they “woke up too late”. When asked what advice he would give to startups applying to Free Electrons this year he says that they need “an urgency to do more, to grab the opportunity and don’t let go, give their best and mainly never lose focus”.
Today BeOn still has a pilot with SP Group and another one with ESB, having other projects on the pipeline and is also working with other startups from Free Electrons, because, you may be surprised, they’re actually friends. It is not a matter of winning or losing, it’s a matter of joining forces and contribute to a better world (and do business).
It’s a win-win
You’re probably wondering what do the utilities gain with all this? Like every company in this world it has come the time for utilities to reinvent themselves, and there’s no such thing as rivalry among all eight utilities, they actually help each other out. Not only they know they’re stronger together but also they know that if they don’t understand the future business model they’ll end up struggling in the future, so it’s a win-win.
Future Free Electrons startups know one thing for sure: nothing comes easy, nothing comes that you are not supposed to have. Rui made it this far because he fought a lot. If you ever get the chance to see the video of his victory you’ll hear about his past. He was born poor, he didn’t have any utility at home, meaning he didn’t have electricity or water and he now works for eight of the biggest utilities in the world.
Rui doesn’t believe in coincidences not even when he found out that his great grandfather worked at a coal mine where now is the famous MAAT fed by BeOn energy and where the Portuguese module of Free Electrons took place. He doesn’t think it was destiny, he likes to think he built his own destiny.
Having spoken with people who worked with him during the program I know that he built his own destiny because he never gave up, he never lost focus. But you know, some things are just meant to be, it seems like all stars align for some people to get exactly what they’re supposed to. This was his future all along, it was always in his blood and it can also be in yours. You’ll only realize once it happens. Like he did. Whether you face it as destiny or hard-work or both, that’s up to you.
by Carolina Santos | Jan 16, 2018 | Startups
Things you have to keep in mind before I explain Free Electrons: it was launched by eight giant utilities (EDP, TEPCO, Dubai Electricity & Water Authority, innogy, origin, AusNet services, SPgroup and ESB), the program is for energy startups and the award is US 200,000 no strings attached.
Do I have your attention now? So, let’s explain it. Free Electrons is on its second edition and its main goal is to reach startups developing solutions in mobility, clean and smart energy and digitalization. In a week the startups will go through three acceleration modules between April and October 2018, those will take place in San Francisco and two other locations, one in Europe and the other in the Far East.
As you may have figured out by now, it’s an unique opportunity for startups in the energy sector to grow and develop their business. Still interested? Then apply until February 23, 2018. See you on the other side.
