THE Smart Grid Innovation Hub has announced a competition to find the most promising start-up for a Smart Grid solution or service, with the opportunity for the winner to receive up to €10,000 in funding as well as a range of other valuable prizes.
The competition offers a unique opportunity to pitch your idea to senior executives across the energy industry in Northern Ireland and Ireland at the 2014 Energy Show in Dublin’s RDS on March 12th.
A Smart Grid is an electricity network which facilitates the large-scale integration of renewable energy, utilises the electricity infrastructure efficiently through the optimal use of Information and Communications Technology (ICT) & seamlessly integrates the actions of all users connected to the network in order to deliver sustainable, economic & secure electricity supplies.
Northern Ireland and Ireland have a significant opportunity in Smart Grids due to the levels of wind-generated electricity on the power system, which can be up to 50% at any one time.
This enables us to become effectively a live laboratory of Smart Grid evolution, as our system as our system must be managed in a unique way.
The Smart Grid Innovation Hub is a collaborative initiative by EirGrid Group and NDRC to promote the development of innovative Smart Grid solutions, with a focus on entrepreneurial initiatives by companies, academics and entrepreneurs in Ireland and Northern Ireland.
This competition is open to any Northern Irish or Irish start-up with a Smart Grid solution or service which has been in operation for less than 3 years and has received under €1 million in funding to date.
Entrants will be judged on the originality of the idea, the ability to address current and future electricity system challenges and the market opportunity & business case.
Four short- listed entrants will pitch their ideas to a judging panel of top industry professionals and noted experts in front of an audience at this year’s Energy Show on 12th March. All information can be found on the Smart Grid Innovation Hub’s newly launched website at www.smartgridinnovate.com .
The closing date for applications is February 21st.
The winner will have an opportunity to receive funding of up to €10,000 and will be given a promotional opportunity to showcase their winning Smart Grid solution, product or service at ‘The Energy Show 2014’ at the RDS, Dublin 4, on 13 March 2014.
In addition, the winner may avail of intensive solution and business validation workshops through the Smart Grid Innovation Hub and may be short-listed to one of NDRC’s investment programmes.