EUR 500 000 investment available for sustainable energy innovators
EIT InnoEnergy, Europe’s largest sustainable energy innovation engine, launched its second annual call for Iberian and French start-ups as it hails the success of its first round of applications. The accelerator is offering investment and business support worth up to EUR 500 000 to the best clean energy entrepreneurs and small businesses.
From its 2017 call, EIT InnoEnergy has invested more than EUR 1 million in eight start-ups in the fields of solar, energy management, CO2 capture, waste to energy and energy storage. Successful applicants included FlexiDAO, a platform that unlocks the potential of small-scale demand response such as EV charging using blockchain, and Ingelia, a company whose technology produces hydrochar from different organic waste streams.
The funds were invested across two of EIT InnoEnergy’s flagship programmes: Highway™ and Boostway™. The Highway supports early-stage start-ups in their go to market phase, and the Boostway supports SME’s in their growth phase through internationalization and business scalability.
Simone Accornero, CEO at FlexiDAO said: 'We applied for EIT InnoEnergy’s investment not only for the funding but its strategic business support. Its network, alongside mentorship, is invaluable to find the right partners and backing to accelerate your business growth. This is only the start of our journey with InnoEnergy and we’re already looking at our next steps together.'
Successful call applicants will also gain access to a network of more than 350 partners and EIT InnoEnergy’s European VC community, board-level advice and mentorship and a front-row seat at European energy events, including The Business Booster – EIT InnoEnergy’s annual networking event where companies across the energy value chain attend to meet innovations under one roof.
Josep-Miquel Torregrosa, Business Creation Officer at EIT InnoEnergy, said: 'Our aim is to partner with innovative entrepreneurs and businesses for the long-term, so we can achieve a low-carbon future faster. And in turn, we’ll offer them more than just funding but access to our unique business support network. We’re searching for start-ups who want that backing to make a sustainable energy future happen today!'
The call for start-ups is open until 24 June and is available for businesses working in one of EIT InnoEnergy’s eight areas of focus:
- Renewable energy
- Smart electric grid
- Electricity storage
- Smart and efficient building and cities
- Energy efficiency
- Clean coal technologies
- Energy from chemicals fuels
- Sustainable nuclear and renewable convergence
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