EDP launches EDP Open Innovation
Global award for startups will grant €50 thousand and the presentation of finalists at the Web Summit, the largest and most important event in Europe
EDP Brasil, a company that operates in the areas of generation, distribution, marketing and energy solutions, announces the official launch of the EDP Open Innovation award, the world largest innovation competition in the energy sector. The competition is aimed at startups with creative ideas that can be implemented in the global marketplace in order to define new frontiers in the electric power sector.
The initiative was born from the merger of the EDP Inovação and Energia de Portugal that encouraged entrepreneurship in the area of energy. The program is carried out in partnership with the Portuguese newspaper Expresso and the Startups Factory accelerator.
"The award aims to stimulate the emergence of innovative and disruptive businesses, in order to anticipate the transformation of the electric sector and contribute to the development of an energy sector that is ever more efficient and sustainable," says João Brito Martins, director of Strategy, Organization and Innovation at EDP Brasil.
Interested parties from all over the world must submit their projects with the potential to reach markets on a global scale. For the inaugural competition, the covered subjects are related to clean energy and recent industry trends. The competition covers the following themes: energy efficiency; electric mobility; internet of things; M2M (Machine-to-Machine); machine learning; technology of information; production of wind, solar, offshore, or other forms of energy; storage and distribution of energy; and natural gas.
The teams should consist of 2 to 4 members and can now register through the website http://edpopeninnovation.edp.pt. The deadline to participate in the contest is August 31.
Contest stages and awards
After the registration stage, up to 30 groups will be selected for interviews conducted by an international jury. At this stage, competitors will have the opportunity to detail the business model and persuade the jury to support their projects.
From these talks, 15 teams will be chosen, which will benefit from a program to accelerate startups in Lisbon, during the whole month of October. Travel and lodging costs in Portugal will be the responsibility of the EDP organization, limited to two members per group.
At that time the teams will work at the Startups Factory to accelerate their projects and will have access to the FabStart method, which allows them to simulate the product in the real world. This is a unique opportunity. to share experiences and improve work, at the same time the teams will be assisted by periodic mentoring sessions with well known professionals from the areas of interest.
The three groups with the best performance throughout the competition, according to criteria established by the EDP Open Innovation organizing committee, will hold an exhibition at the EDP stand at the Web Summit, the largest and most important event for technology startups in Europe. The team that wins will be awarded € 50 thousand, to be used exclusively for the development of the idea.
The winners will be announced in November, after all the members of the acceleration program exhibit, in Lisbon, the pitch to an audience composed of EDP employees, investors and guests.
Participants with high-potential projects will also be invited to join the EDP Starter program in Portugal, Spain or Brazil.
Regulations and more information about the award are available at the website:
