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Following the success of our 2018 Greentown Labs Bold Ideas Challenge, we are excited to announce Greentown Labs Bold Ideas 2020! Greentown Labs seeks innovative pre-seed to Series B startups that can unleash energy storage capabilities and accelerate development of the New Electric World, for participation in an exciting new partnerships acceleration program, Bold Ideas 2020. Bold Ideas 2020 is a program in collaboration with Schneider Electric, the global leader in the digital transformation of energy management and automation in homes, buildings, data centres, infrastructure and industries.
Why Bold Ideas 2020 and What Schneider Electric Is Looking For
The New Electric World
Our industry is changing quickly, providing new opportunities to innovate. With a projected 80% of additional global electricity capacity becoming available over the next 25 years, and 70% of new generation being renewables, the world is undergoing a rapid transition to a distributed, digitized, and decarbonized energy economy. Schneider Electric is at the heart of this transition, providing the technology and business models needed in the New Electric World.
Schneider Electric also understands that entrepreneurs will help build the new energy landscape by creating new business models and leveraging new technologies, software, and data science. Innovating is not for the faint of heart. It takes vision, grit, talent, resourcefulness, perseverance, a lot of hard work, and the right partnerships to move the needle at a global scale.
Therefore, Schneider Electric seeks to partner with pre-seed to Series B teams that have uncovered disruptive market opportunities with a defensible competitive advantage and a compelling customer value proposition. Schneider Electric is looking for partners who can enable the swift introduction of new offers in the electric power and industrial automation industries, capitalizing on the deployment, integration, and operations of energy storage assets at scale.
We are looking for startups and/or entrepreneurial teams that can accelerate the New Electric World along one or more of the following parameters:
- Storage Performance Improvement
- Long Duration Storage
- New Digital Applications & New Business Models for Storage Assets
- Application Deadline: July 3, 2020
- Kickoff Event: September 9, 2020
- Workshop 1: October 20 & 21, 2020
- Workshop 2: December 1 & 2, 2020
- Workshop 3: January 26 & 27, 2021
- Final Showcase: March 25, 2021
Opportunity is About:
Candidates should be from:
Description of Ideal Candidate:
Are you up for the challenge?
- You have an idea that could transform the world of energy storage
- You welcome the opportunity to partner with Schneider Electric to bring your technology to market
- You’re enthusiastic about being mentored and supported through the Greentown Labs partnerships accelerator program
- You’re ready to participate in a 6-month program from September 2020 – March 2021, including 5 onsite events in Somerville, Massachusetts
Although startups from all over the world may apply, if you are selected as a Bold Ideas 2020 participant, a CEO/founder of your company will be required to attend five events at Greentown Labs in Somerville, MA, in order to enjoy full program benefits. This requirement is strictly enforced in order to honor the time of volunteer mentors and other contributors.
Deadline: July 03, 2020
Program Starts: September 09, 2020
Program Ends: March 25, 2021
Cost/funding for participants:
What's in it for you?
- Partnership outcomes with Schneider Electric, such as investments, incubations, commercial agreements, and joint ventures are possible.
- Resources through desk space and membership at the Greentown Labs Global Center for Cleantech Innovation, the largest cleantech incubator in North America
- Mentorship from Schneider Electric executives and cleantech experts from the Greentown Labs network
- Access to our global footprint of technical experts and trusted customers in segments ranging from data centers and buildings to utilities, industry, and more
- Support in reaching milestones through partnerships-focused programming
- $25,000 in non-dilutive grant funding to cover travel and any other program expenses