Energy Open Innovation Challenge by ‘Enterprise Singapore’ for International Startups & SMEs

Competition Grant / Award in Applied Science , in Business and Law , in Natural Science
  • Singapore
  • Apply Before : November 6, 2020

Opportunity Details

  • Opportunity ID 67132
  • Degree Non Degree Program/Certificate
  • Language Requirement Not Required
  • No. of Opportunity 50
  • Opportunity Type : Fully Funded
  • Gender MaleFemale
Advertisements

Opportunity Description

About the challenge

Are you ready to confront a challenge by using the best technology and a distinctive approach? If yes, apply for the 2020 Energy Open Innovation Challenge. Enterprise Singapore (ESG), in collaboration with energy company partners, government organizations, and innovators, is initiating The Energy Open Innovation Challenge with the mission of enhancing innovation in the global energy industry.

So, ESG is calling for local and international startups and small-and-medium-sized enterprises (SMEs) to foster the energy sector and offer solutions to four key industry needs. This is an opportunity to collaborate and cross-develop your new solutions with a group of innovative companies and energy industry experts.

Application deadline: 6 November 2020 (12:00 PM GMT)

Organizer: Enterprise Singapore & Open Innovation Network

Selection phase: 6 to 18 November

18 to 27 Nov 2020: Up to 50 companies will be shortlisted and invited to one-on-one meetings with energy companies, after which energy partner companies select finalists.

Primary result announcement: 27 November 2020

Final virtual pitching day: 7 to 11 December 2020 (finalist startups will pitch their projects to satisfy the panel of their solution’s business potential and feasibility)

Announcement of winners: At the conclusion of the pitching event

Four key industry areas or categories to which you can submit your solutions:

  • Asset Management
  • Robotics
  • Sustainability
  • Workflow

The four key needs match with the 19 problem statements in the energy industry that you can propose your solution to each of them, or, if you have solutions, you can submit for more than one problem.

Benefits and incentives

Winning entries will win a multiple of the following prizes:

  • ESG will provide eligible and selected companies with up to S$1million Singaporean dollars of funding via grants for product development per problem statement;
  • Four startups from across all problem statements will receive S$25,000 Startup SG Grants
  • Access to prominent energy company’s leading industry experts
  • Opportunity to deal with participating energy companies
  • Mentorship and industry network
  • Industry exposure and recognition

Eligibility requirements

This Challenge is open and available to:

  • Startups or companies that have been incorporated for less than five years.
  • SMEs are companies having less than 200 employees or less than S$100 million annual revenue.
  • Business entities, regardless of their country of incorporation.
  • Individuals or groups of individuals, regardless of their home country, such as research teams.
  • Only one person to register on behalf of the team.
  • When registering, research teams need to be ready to incorporate a company in Singapore, should they be shortlisted to work with the energy companies and offered grant support.
  • All the documents that may confirm the Participant’s eligibility may be required prior to awarding any prizes (e.g., identity document, registration certificate).
  • Employees and representatives of the Joint Organizers are not eligible.
  • And, this Challenge is not open to countries where it is prohibited or restricted by law.

Evaluation

Teams from ESG and partnering energy companies will review all submitted projects and assess them based on the following criteria. Up to 50 startups across all problem statements will be shortlisted to advance to the Deepening Phase.

  • Technical Depth
  • Team Complementarity
  • Business Growth/Potential
  • Feasibility of Business Model
  • Innovation & Impact/ Value proposition

How to apply?

To participate in the challenge, companies should register on the platform, fill out the participation form, and submit a PDF presentation (near ten slides, in English only), addressing the following issues:

  • Problem/solution
  • Market and total addressable market (TAM)
  • Value proposition and positioning
  • Go-to-market strategy
  • The business/revenue model
  • Traction: KPI metrics & milestones
  • Forecast 2020/2021
  • Team presentation

Apply now

Uploading a 2-min video introducing your company and solution is also welcome.

Participants are welcome to submit multiple entries to address various problem statements.

Advertisements

Other opportunities you may like