Singapore Power launches global accelerator for energy startups

Singapore Power launches global accelerator for energy startups

Singapore Power (SP) has teamed up with seven other utilities to launch
the Free Electrons Global Accelerator programme which aims to connect
startups specialising in clean energy, energy efficient and mobility,
digitisation and on-demand customer services.

The seven other partners include AusNet Services, Dubai Electricity and
Water Authority (DEWA), Electricity Supply Board (ESB), Energias de Portugal
(EDP), Germany's Innogy, Origin Energy and Tokyo Electric Power Company
(Tepco).

These eight utilities represent a global footprint covering 73 million end
customers across more than 40 countries, with a combined net income of $148
billion, according to SP.

Supported by two accelerator partners from Silicon Valley - New Energy Nexus
and swissnex San Francisco - the programme will see 12 startup ventures
selected to participate in the six-month long accelerator programme.

This will enable selected ventures operating in the energy sector to
potentially test their products and services on the massive customer base of
all eight utility providers, given their large global footprint.

According to its website, the accelerator will be scouting for startups that
are already validated, having reached a proof-of-concept stage (i.e. working
prototype) and secured funding.

Selected ventures will undergo modules sited in Silicon Valley (San
Francisco), Lisbon and Dublin, and Singapore where they will gain exposure
to various global markets and have the opportunity to interact and
collaborate with major utility companies.

This comes at a time when the global energy market has experienced rapid
changes in recent years with the rise of renewables, decentralisation of the
energy system, regulatory uncertainties and disruptive new technologies.

Applications for the accelerator programme opened on 9 January 2016 and will
close on 28 February 2016. It is targeting startups dealing with clean
energy, smart grids, energy efficiency, energy management, energy access,
the Internet of Things (IoT) and the digitisation related to contemporary
utilities.

Chad Hymas, Executive General Manager, AusNet Services, stated: "It's a
perfect match - smart startup ideas meet a transforming corporate that is
re-inventing itself and has established lean and agile structures that speak
"startup" and "corporate" language alike. We can help startups scale fast;
startups can help us with the best possible products. We go outside to
innovate from within."

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Link to Original Article:
http://www.dealstreetasia.com/stories/singapore-power-launches-free-global-a
ccelerator-programme-62349/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com