Applications for Free Electrons, the first global energy startup accelerator program that connects the world’s most promising energy startup companies with leading utility companies, just opened, and will last until the 22nd of February.
Free Electrons is a truly global program, focused on deal facilitation and pilot-driven, and the goal in the application stage is to reach startups developing solutions in mobility, clean and smart energy and digitalization.
This program perfectly matches start-ups and utilities, and the last 2 editions prove it’s a tremendous catalyst for accelerating change for all partners. After the call for startups closes, the selection process for Bootcamp will take 2 weeks, until March 13th, when the participating startups will be announced.
The Bootcamp module takes place in Dublin where from April 2nd to 4th the best Top 30 Startups will showcase their solutions and their teams in order to be shortlisted to the top 12.
After the Bootcamp, the startups that are selected for the Free Electrons acceleration program will participate in 3 modules of roughly a week each, that will take place between May and September of 2019, and will be held in Columbus, Ohio (May 21st to 24th), Hong Kong (June 25th to 28th), and Lisbon (September 16th to 19th). Startups will also compete for the coveted “Free Electrons World’s Best Energy Startup” with a prize of USD 200,000 – no strings attached.
Free Electrons provides a unique opportunity for later stage energy startups to gain access to the utility partners that can help them scale and expand into new markets around the world.
More than 1.000 startups from more than 70 different countries have applied to the first editions of the programme, and it’s no wonder why: the first 2 editions generated an overall financial value of contracts signed (between 27 startups and 10 utilities) of over US$5 million, with a pipeline of ongoing opportunities surpassing US$15 million.
All of the 10 power utilities behind the program conducted cutting edge proof of concept projects relevant to their future growth strategies. All 25 participants (15 Start-Ups and 10 Utilities) in the 2018 edition have benefited directly from this hyper-collaborative environment.
The 10 utility members have a total customer base of 80 million users, and are present in over more than 40 countries, and the program is delivering results more quickly, the first pilot project last year was fully completed within 8 weeks of the initial bootcamp.
The 4 international modules held across the globe are the cornerstone of Free Electrons. During the course of the program, participants will work closely with local players, utilities, mentors and other resources in order to accelerate their company’s growth.
Free Electrons allows for utilities to cooperate with each other on pilots, which is unique, and effective for startups, as they only have to go through a learning curve with a utility once, allowing them to scale much faster.