PowerUp! organizer EIT InnoEnergy has increased the main prize!
You can apply until April 19th for the next edition of PowerUp!, a competition for start-ups from 24 countries in Central Europe. Because of the great interest and demand in the competition, its organizer EIT InnoEnergy has increased the main prize from €20,000 to €30,000!
The main area of the competition is the energy and cleantech sector but solutions such as mobility, cybersecurity, smart city and technologies limiting the emission of harmful dust particles into the atmosphere are also included.
In addition to the main prize of €30,000, there are also financial prizes for both second and third places (€10,000 and €5,000). The authors of the most interesting projects will be invited to the prestigious EIT InnoEnergy Highway® accelerator, offering financing of up to €150,000.
As Jakub Miler, the CEO of EIT InnoEnergy Central Europe, explains, participation in the competition gives the best participants the opportunity to take advantage of EIT InnoEnergy's unique know-how:
- We are different from other companies investing in start-ups. We not only finance, but also support the projects until they are commercialized. We offer services related to, for example, team building, training, coaching, mentoring. In addition, we facilitate access to external financing institutions, we help in cooperation with venture capital networks, we also develop the product itself - we cooperate with research institutes and universities, therefore we are able to invite engineers and from various fields to cooperate.
Michał Kraszewski, Business Creation Manager, EIT InnoEnergy, emphasizes that PowerUp! is also an opportunity to contribute to the improvement of the environment and its protection. The winners of previous editions of the competition have been given just such a chance, successfully developing and commercializing their solutions:
- An example is the Bin-e developed by the Polish team - a smart waste bin which recognizes and sorts municipal waste by itself. To date, the start-up has sold over 100 devices and has recently received a subsidy of almost €500,000!
In May, participants of PowerUp! will take part in Bootcamps and Country Finals. Winners will be invited to Prague for the final Bootcamps with European mentors and the Grand Final, which will take place on 19th June.
To participate in the competition, you must have a prototype, the team and fill in the form at: www.powerup.innoenergy.com
About EIT InnoEnergy
EIT InnoEnergy is the innovation engine for sustainable energy across Europe.
We support and invest in innovation at every stage of the journey – from classroom to end-customer. With our network of partners we build connections across Europe, bringing together inventors and industry, graduates and employers, researchers and entrepreneurs, businesses and markets.
We work in three essential areas of the innovation mix:
- Education to help create an informed and ambitious workforce that understands the demands of sustainability and the needs of industry.
- Innovation Projects to bring together ideas, inventors and industry to create commercially attractive technologies that deliver real results to customers.
- Business Creation Services to support entrepreneurs and start-ups who are expanding Europe’s energy ecosystem with their innovative offerings.
Bringing these disciplines together maximises the impact of each, accelerates the development of market-ready solutions, and creates a fertile environment in which we can sell the innovative results of our work.
InnoEnergy, which was established in 2010, is the innovation engine for sustainable energy across Europe and is supported by the European Institute of Innovation and Technology (EIT). Tallinn Science Park Tehnopol, who is organizing the Estonian Final, is the partner of InnoEnergy since 2015. The common goals are supporting development, sustainability and seed funding of innovative companies in Estonian energy sector.