Until September 10, the EDP Open Innovation Awards is accepting applications of clean energy startups to compete in a two-week accelerator program for €50,000 in funding and the chance to present at Web Summit.
Startups from Portugal, Spain and Brazil are invited to participate and present their business model or technological innovation in the fields of clean energy, smart grids, energy storage, digital innovation or client-focussed solutions in the energy sector.
According to the program website, ten teams will be selected by a jury of Portuguese, Spanish and Brazilian Experts from EDP, supported by Beta-i. The selection period is planned from September 12-25.
According the the program rules, selection criteria will be innovation; quality; the set-up and quality of the team; the contribution to increased competitiveness and innovation; and the potential for growth and scaling.
The 10 finalists will participate in a two-week intensive acceleration program from October 17-29 held in the headquarters of Beta-i in Lisbon. Startups will receive coaching and mentoring from EDP experts to develop a pilot and test their solution in the real world.
On October 30, a Demo day is planned that will include five-minute pitches of the startups to members of the company EDP, potential investors and the international startup community.
The winning startup will receive €50,000 funding. In addition, it will have the chance to present at the Web Summit, hailed the largest event in technology and entrepreneurship worldwide. The next Web Summit will be held in Lisbon from November 5-8.
The EPM Innovation Awards, a result of the union of Energy of Portugal and the EDP Innovation Awards, will be held for the seventh time, in collaboration with Expresso.
Since the first edition in 2012, the EDP has sharpened its award program, reducing the number of selected participants from 50 to ten whilst adding a financing component that has grown to the €50,000 offered today.
In 2016, Brazilian startup Delfos was the first winner to present at the prestigious Web Summit its innovation on how to the increase the productivity and lifecycle of wind turbines.
Last year, the award went to Spanish startup Rated Power for their innovative concept of efficient planning of solar power plants.
In addition to supporting the EDP innovation price, Beta-i is also responsible for the Lisbon Challenge startup acceleration program. Earlier this summer, Beta-i organized the Lisbon Investment Summit (LIS) that took place from June 6-7. The organization says it wants to work to create “a new consciousness,” so that institutional investors invest more in the local startup ecosystem, both in Lisbon and in Portugal as a whole.
Read more: Beta-i wants to create a ‘new consciousness’ for investing in Portuguese startups