Competition for start-ups from cleantech sector launched

The fourth edition of the largest competition for start-ups from the cleantech sector in Central Europe – PowerUp! by InnoEnergy has started today. The application period ends on April 15.

The competition is open for applicants from Bulgaria, Albania, Croatia, Armenia, Bosnia and Herzegovina, Czech Republic, Estonia, Macedonia, Greece, Georgia, Hungary, Malta, Moldova, Montenegro, Latvia, Serbia, Lithuania, Turkey, Ukraine, Poland, Cyprus, Slovakia, Slovenia, and Romania.

The aim of the competition, as organizer noted, is to select and accelerate the best start-ups working on the sustainable energy.

Start-ups can win prizes up to EUR 20,000 in cash and EUR 150,000 investment.

To take part in the competition, applicants have to submit a project that regards sustainable energy, create a team, have the prototype and fill out the form on the competition site.

The InnoEnergy notes that mobility, cyber security, and energy storage solutions are particularly sought after on the energy market. The range of interest includes technologies that allow for a reduction of emissions of harmful substances into the atmosphere and those which combat smog.

The prize for the first place is EUR 20,000, for the second EUR 10,000 and for the third EUR 5,000. But, that is not all.

“The winners of the competition may look forward to a chance to participate in the prestigious Highway by InnoEnergy programme which converts ideas and designs into market reality. It offers beginner entrepreneurs financing up to an amount of EUR 150,000 and wide-ranging support in the fields of product development and protection, team building, access to international customers and external financing sources,” organizer said in a statement.

The participants have a chance to gain international business contacts, media attention, access to mentoring and substantial support from leading energy companies.

The winner of the 2017 edition was the Hungarian start-up, HeatVentors, which presented an innovative method of storing thermal energy that requires 90% less space and allows to save 20 to 40% of energy.