Three years ago, VERBUND X initiated an energy and infrastructure accelerator to give start-ups and corporates the opportunity to jointly discuss current issues and develop innovative solutions. And the concept is working: In April, the third round of the programme ended: seven out of seven projects will be continued even after the accelerator has officially been completed.
Innovation platform VERBUND X Accelerator
Since 2020, VERBUND has been joining forces with other industry leaders to find the best start-ups under the motto “Shaping the future of energy and infrastructure”. The goal is to develop joint solutions for the transition to clean energy in a straightforward and open environment.
Accelerator investments
Round four
The first phase has already been completed. Interested start-ups were able to apply during the summer months. In addition to the prospect of strong collaboration projects, there are also two search areas: start-ups are being sought with the stated goal of reviewing and providing co-investments. For this reason, the in-house corporate venture capital firm VERBUND X Ventures brought Speedinvest and Elevator Ventures, the corporate venture capital firm of Raiffeisenbank International (RBI), on board as its new partner.
“Over the past few years, we have received several hundred start-up applications via the VERBUND X Accelerator. This year, we also want to take a look at applications with a special focus on investment options and ideally invest in start-ups that develop scalable business models and solutions for the energy and infrastructure sector with the other venture capital partners, Speedinvest and Elevator Ventures.”
Franz Zöchbauer
VERBUND X Ventures managing director
VERBUND’s corporate partners this year include the Austrian Post, the RBI’s Elevator Lab and Magna Powertrain. ÖBAG, AIT, Microsoft and OMV are also on hand as community partners.
The four search fields in our fourth round were:
- Cross-industry generative AI solutions
- Solutions for Vehicle-to-Grid (V2G) applications
- Solutions and technologies in building and energy efficiency management (VC search field)
- EV infrastructure & e-mobility – new business models around EV charging (VC search field)
Our start-up teams at the INSPIRE energy summit
The VERBUND X Accelerator programme enabled us to inspire many start-ups from all over the world to apply. In total, we have received applications from more than 15 countries. This year, it was crucial for everyone involved that the start-up and the search field fit perfectly: quality was front and centre.
The following seven start-ups made it to the Innovation Camp in these four search fields
The 2023 Innovation Camp will take place during the INSPIRE energy summit at scalaria at Lake Wolfgang. All the start-ups will arrive on site and work on their innovative projects on Wednesday 27 September. The projects will ultimately be presented to all participants during Day 3 of the conference – including an audience vote!
INTERGATOR – Search field: Cross-industry generative AI solutions
This is a modern enterprise search based on artificial intelligence. Filters and facets quickly and efficiently narrow down search results to relevant information.
CORTECS - Search field: Cross-industry generative AI solutions
The artificial intelligence offered by the University of Vienna spin-off improves searches in corporate databases and document management, making knowledge management more efficient.
YUKKALAB –- Search field: Cross-industry generative AI solutions
German start-up YukkaLab’s advanced NLP model is able to identify events and the corresponding participants with an accuracy of almost 90%. It will work together with VERBUND on an energy market intelligence tool at Innovation Camp.
AMBIBOX – Search field: Vehicle-to-grid (V2G)
Ambibox is a young company from Mainz that develops advanced solutions for decentralised energy systems. With its extensive laboratory and testing equipment, the start-up has developed a modular DC system made of hardware and software components to enable bi-directional charging.
EM – Search field: Vehicle-to-grid (V2G)
British start-up Electric Miles has developed an intelligent “Internet of Energy” platform to help maintain power grid stability while simultaneously charging electric vehicles at lower cost and with lower carbon emissions.
FRONYX – Search field: EV infrastructure & e-mobility (venture capital)
During the Innovation Camp, the venture capital funds (VERBUND X Ventures, Speedinvest and Elevator Ventures) will deepen their discussions with German start-up Fronyx regarding a potential investment. Fronyx developed an online platform that offers charging solutions for electric vehicles. Fronyx’s ChargeGPT transforms raw data into tactical intelligence that makes it possible to create improved charging experiences for e-vehicle customers.
Zählerfreunde – Search field: Energy management systems
Another candidate for our venture capital partner is the German start-up Zählerfreunde. Zählerfreunde is Germany’s first independent platform for smart meter users. The platform offers numerous functionalities that enable sustainable added value to be generated using data from smart metering systems.
Nice to meet you...
As an integral part of the Accelerator programme, VERBUND connects start-ups to different use case partners. This collaboration facilitates the implementation of pilot projects and promotes sustainable corporate growth.
