Extended deadline! Few days left to apply for the prestigious PowerUp! Challenge programme

EIT InnoEnergy has extended the deadline for applications to PowerUp! Challenge until 10 March 2020 due to high interest in the programme from the CEE-region. Within this year’s programme early stage companies will compete for the title of Start-up of The Year.

EIT InnoEnergy PowerUp! Challenge is an opportunity for companies from Central-Eastern Europe (CEE) to become the next unicorn in the InnoEnergy portfolio. With the opportunity for multi-million Euro investment the programme is open for companies at any size or stage of development. At the same time, industry partners in the greentech sector are expected to join the program. Exclusively for start-ups InnoEnergy is holding a competition with financial prizes up to €65.000 and the title of Start-up of the Year. The thematic verticals are energy, mobility, cleantech, smart cities and broadly understood smart technologies.

The Country Finals winners will compete during PowerUp! Grand Final at impact’20 conference in Krakow – the biggest economic event in CEE. In addition to cash prizes various Partner awards will be given out. For example Amazon Web Services (AWS) is providing a prize worth $100 000 in credits to their AWS Activate program and Business support. Estonian finals has being held under the leadership of Tallinn Science Park Tehnopol. Roofit.Solar, Zubax Robotics, Lainergy, Ubik Solutions, PolarSol and Smart Load Solutions have been representing Estonia in the previous Grand Finals and brought home 3 Grand Prizes and 2 additional prizes totally.

Ragmar Saksing, Manager of Greentech field at Tehnopol, notes that the ability of Estonian companies to create the world-changing technologies is very high. “The ingenuity and rapid adaptability of Estonians give our companies a significant advantage in achieving success in the greentech sector. At the same time, all start-ups need the financial resources to conquer the world and that’s exactly what participating in the PowerUp! Challenge offers,” Saksing added.

With the help of InnoEnergy, companies in the greentech sector have so far raised more than €500 million in investment. The most well-known Estonian companies that have received large-scale investments through the InnoEnergy network and are strong players in the energy field are Skeleton Technologies, Hepta Airborne and Thinnect. According to the Programme Director at Skeleton Technologies, Egert Valmra, Skeleton has been working hand in hand with InnoEnergy since 2014, including the funding of two innovation projects as well as benefiting from a “smart money” approach concerning business development. “In fact, InnoEnergy has supported Skeleton in winning several prominent supplier nominations in the automotive and transport industry in general. Without any exaggeration it can be said that InnoEnergy has built a formidable business network and considerable “capital” of trust towards European industry,” Valmra stated.

PowerUp! Estonian final will take place on April 16 at Pipedrive Tower. Before the final, qualified teams will be invited to take part in the 2-day Business Bootcamps® at Tallinn Science Park Tehnopol where they will work with the best business and pitch coaches.

To apply for the PowerUp! Challenge you need to submit your application by 10 March 2020 via the InnoEnergy website: powerup.innoenergy.com.

EIT InnoEnergy is the innovation engine for sustainable energy across Europe. InnoEnergy’s partner in Estonia is Science Park Tehnopol, which shares the goal of supporting the development and sustainability of Estonian innovative companies in the energy sector. Science Park Tehnopol, the largest of its kind in the Baltic States, strives to foster the emergence and advancement in Estonia of globally prominent technology companies, supporting their expansion into foreign markets and providing solutions ranging from commercial real estate to needs-based business services. Tehnopol has been operating in the development of the Estonia green energy sector since 2010 in collaboration with PAKRI Science and Industrial Park.