23.01.2017 – “Free Electrons” is a global accelerator program designed to expose energy startups with a working prototype to global network industry players. Selected startups will join the six months accelerator program in three modules in Silicon Valley, Lisbon/Dublin and Singapore. The program is co-organized by swissnex San Francisco.
A global consortium of utilities and accelerators – including swissnex San Francisco – are launching the Free Electrons, a global accelerator program for energy startups to further refine their products and services, with the potential of testing and developing them to a global customer base of 73 million. The program will recruit startups that will drive the next generation of ideas in clean energy, energy efficiency, e-mobility, digitization, and on-demand customer services.
“Opening up the utility world to the startups, providing them with a global customer base, accelerating deal execution with the utilities, that’s what Free Electrons is all about. I can’t think of a better opportunity for a startup operating in this space”, Luis Manuel, Executive Board Member, EDP Innovation.
A great opportunity for Swiss startups
Dominic Sutter, startup program manager at swissnex San Francisco, invites Swiss startups to apply and participate in the Free Electrons program. The program will give them access to international markets and the 73 million end customers that the utilities have collectively, an advanced curriculum focused on interfacing startups and utilities in order to seed pilots and strategic investment, they will also access to a committed industry base that spans the globe, a chance to engage in peer learning from other international startups. The all-expenses paid trips will give them exposure and visibility in US, European and Asian markets.
Call for applications
Energy startups around the world with a working prototype are invited to submit their application. The candidates will be evaluated by eight utility partners. Startups that meet the following criteria will be selected: a working prototype that is pilot ready, a large addressable market to facilitate significant sales growth (minimum of 1 billion USD), quality of management, solution with sustainable competitive advantage and viable business model based on credible commercial and economic data and assumptions.
Twelve energy startups will be selected to participate in the six-month accelerator program in three separate week-long ‘customer adoption’ modules in Silicon Valley, Lisbon/Dublin and Singapore. They will also network with major utilities, attend training sessions and build pilot projects. Industry leaders will offer expertise, resources and access to their customer base in exchange for investment and partnership opportunities.
Swissnex Francisco has been active in supporting energy startups. Participating in Free Electrons program gives them the opportunity further support and promote energy activities.
“We are growing our global network and knowledge in the clean energy sector, benefitting the Swiss actors that are a part of our network. We previously hosted the Swiss-US Energy Innovation Days as well as the SAFT startup challenge and we aim to keep Switzerland in the global conversation around energy. Free Electrons gives swissnex the opportunity to develop a new partnership with the California Clean Energy Fund to help accelerate the clean energy transition worldwide”, says Dominic
Deadline for application is 28 February 2017.
About Free Electrons
Free Electrons is a global accelerator program initiated by eight international utilities, AusNet Services, Dubai Electricity and Water Authority (DEWA), ESB (Electricity Supply Board), EDP (Energias de Portugal), innogy, Origin Energy, Singapore Power (SP) and Tokyo Electric Power Company (TEPCO), with the support of two accelerator partners, New Energy Nexus and swissnex San Francisco.
The eight utility partners are leaders in the clean energy transition, covering more than 40 countries, representing over $148 billion in combined net income and access to over 73 million end customers worldwide. The utility partners and accelerators are committed to a future where energy is smart, clean and accessible to everyone.