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Energy competition PowerUp! welcomes Hungarian entries

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PowerUp! - the competition launched by European sustainable energy accelerator InnoEnergy for startup energy innovators - is open to Hungarian companies, offering seed investment of up to EUR 150,000 for each selected project, according to a press release sent to the Budapest Business Journal.

The call for bids was recently opened for the third edition of what organizers call the largest competition designed for start-ups operating in the sector of sustainable energy in 23 countries in Central and Eastern Europe, the Baltics and parts of the Mediterranean. The competition has created a huge opportunity for innovators to develop and execute their projects, and to gain a presence on the global market, organizers add.

“The PowerUp! Competition is a platform for presenting ideas that could be left unnoticed otherwise,” says Jakub Miler, CEO of InnoEnergy Poland Plus, organizer of the Competition. “It is a big contribution in developing innovation in the sector of sustainable energy in Central and Eastern Europe. Winning technologies and other ideas will help Europe in protecting the environment and also, after commercialization, can have a global impact with the help of InnoEnergy,” he adds.

Last year’s winners (PolarSol from Estonia, Pleione Energy from Greece, GreenerGizer from Hungary, and Bin-E from Poland) have confirmed that PowerUp! creates multiple opportunities and opens many doors, organizers say.

Winners this year will receive financial prizes as well as gaining access to a prestigious accelerator called Highway by InnoEnergy, transforming ideas and projects into market reality. It offers young entrepreneurs access to knowledge and major support in developing and protecting a product, entry onto the market, team-building or access to seed funding. It also enables permanent access to 150 of the biggest partners operating in the power industry, simplifying rapid entry onto the global market.

Fifteen regional finales and the Grand Finale in Budapest will be preceded by intense workshops, where the teams will have the opportunity to work on details of their projects and present them to experts and investors. Such meetings are described as a one-of-a-kind chance to establish business contacts, attracting media attention while contributing to building a strong position on the market of sustainable energy in this region of Europe.

“Our primary aim is to support innovation in the sector of energy. We provide such support at each level of development – starting with the idea, to delivery of the final product to the recipients. Thanks to our partnership network, we build connections in the entire Europe, uniting graduates with employers, inventors with the industry, and researchers with companies,” explains Miler.

InnoEnergy is inviting start-ups and entrepreneurs from 23 countries to take part in the third edition of PowerUp! To take part in the competition, entrants must submit a project that entails sustainable energy, create a team, produce a prototype, and fill out the form on the competition site.

Participants can submit ideas from June 19 to September 11, 2017, by filling out the form at www.powerup.innoenergy.com

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