Autor: foundME • 7 March 2020

European Greentech Program Extends Application Deadline

Last year's winner of the PowerUp! Challenge Roofit.Solar, marketing and export manager Helen Anijalg in the middle
Autor: Magnus Heinmets

EIT InnoEnergy has extended the deadline for applications to PowerUp! Challenge until 10 March due to high interest in the program from the Central and Eastern Europe region.

EIT InnoEnergy PowerUp! Challenge is an opportunity for companies of any size or stage of development from Central and Eastern Europe to become a part of multi-million Euro investment program. Also, greentech industry partners are expected to join the program.

Exclusively for start-ups InnoEnergy is holding the PowerUp! competition for Start-up of the Year title and prizes up to €65.000. In addition to cash prizes various non-monetary awards will be given out by partners of the program. For example, Amazon Web Services (AWS) is providing a prize worth $100 000 in credits to their AWS Activate program and Business support. The thematic verticals are energy, mobility, cleantech, smart cities and broadly understood smart technologies.

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

The winners of the Estonian final will compete at the Grand Final during the impact’20 conference in Krakow. In the previous Grand Finals Roofit.Solar, Zubax Robotics, Lainergy, Ubik Solutions, PolarSol and Smart Load Solutions have been representing Estonia and brought home 3 Grand Prizes and 2 additional prizes in total.

Ragmar Saksing, manager of greentech field at Tehnopol, notes that the ability of Estonian companies to create 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 for creating the solutions that make the world more sustainable 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 investment. The most well-known Estonian companies among them 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.

The PowerUp! Challenge application deadline is 10th March 2020.

EIT InnoEnergy is the innovation engine for sustainable energy across Europe. InnoEnergy’s partner in Estonia is Business Campus and Science Park Tehnopol.

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