International innovation challenge calls smart energy visionaries to action


20.04.2018

To find solutions for ensuring the future reliability of electrical grids, Nordic Innovation Accelerator, Grid.vc, Nord Pool, Fingrid and Lahti Energia launch an international innovation challenge.


The energy sector is faced with an aggressively growing and increasingly fluctuating electricity demand, driven by electrification and the wider adoption of modern technologies, such as smart homes and e-cars. Smart technologies automatically respond to the price of electricity, timing their consumption to when electricity price is at its lowest. As these technologies become more common, both the reliability of supply and the affordability of electricity are in jeopardy, as local grids are often not equipped to handle a strain of such volume.


This looming problem calls for fresh ideas and offers a unique opportunity for creative minds hoping to shape the future of the energy sector. Through an international innovation challenge, Nordic Innovation Accelerator, Fingrid, Nord Pool, Grid.vc and Lahti Energia are calling these visionaries to action, inviting them to reimagine the way electricity is used and to present their solutions for smart energy usage. 


“Any new concept for facilitating smart energy usage without the formation of demand clusters is a step in the right direction, and there are no ideas too immature nor far-fetched”, highlights Nicholas Sharaf, data and analytical services manager at Nord Pool. 


While challenge participation in itself can open many doors to venture teams, the challenge organizers have all pitched in to make sure the teams gain value from the experience. 


“From an early stage, the venture teams are entitled to personalised mentoring and feedback from some of the most visionary experts in the industry”, describes Jaakko Isotalo, fund and dealflow manager at Grid.vc. 


The teams are also competing for superb prizes, including a comprehensive mentoring package and data licences, an invitation to pitch their idea in Cleantech Venture Day London in October 2018 as well as substantial opportunities for funding and corporate collaboration.


The first stage of the challenge culminates with the Cleantech Venture Day in Lahti, Finland, 12.-13.6.2018, where the most promising teams will further develop their ideas in a demo day and later pitch them to an audience including numerous investors. The application period for the challenge is open until 20.5.2018. 


Find more information and apply here: http://www.nordicinnovationaccelerator.com/en/challenge/smart-electricity-usage-without-the-formation-of-demand-clusters


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