INTERNATIONAL STARTUP PROGRAM
More than 10 years innovating with startups
The Iberdrola - PERSEO International Startup Program, to which 70 million euros have been allocated, is aimed at facilitating the group's access to the technologies of the future and promoting the creation and development of a global and dynamic ecosystem of technology companies and entrepreneurs of the electricity sector.
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Through PERSEO, Iberdrola can provide startups, particularly in Spain, the United Kingdom and the United States, with its investor support and expertise, its base of 30 million supply points and its more than 52 GW of installed capacity. In this way, it contributes to developing and boosting an innovative corporate fabric in the energy sector. The program focuses on technologies and business models that improve the sustainability of the energy model through increased electrification and the decarbonisation of the economy.
KEY FIGURES OF THE IBERDROLA - PERSEO INTERNATIONAL STARTUP PROGRAM
Total budget: 70 million euros
More than 65 million euros
invested in startups around the world
+2,000 emerging companies
in our ecosystem (increasing at a rate of 250 per year)
+30 pilot programs with new tech companies
in our ecosystem (increasing at a rate of 5 per year)
in our portfolio
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Since its creation in 2008, it has invested about 60 million euros in startups of the energy sector worldwide, incorporating more than 2,000 emerging companies in its ecosystem, developing more than 30 pilot programs and 8 emerging companies have been included in its portfolio.
Some of its main goals include the early identification of key trends in the sector, guaranteeing the company's access to future energy technologies and promoting entrepreneurship and the development of an innovative business fabric.
In addition, the program offers a series of benefits, such as: becoming part of Iberdrola's ecosystem (a unique opportunity to have access to a vast amount of market know-how and key technologies), pilot programs to test technologies in a real environment, while accessing large amounts of data and, finally, an investment ranging from 500,000 to 3 million euros — first round — and the possibility of conversion with venture capital companies and funds.
Beyond the financial contribution, PERSEO's support for these companies has been key in defining their product and business model by providing them with its knowledge and Iberdrola's market access. The work done with the start-ups has also served us as a technological antenna to find out where is sector is headed.
Main line of actions of the program are:
- Smart solutions for residential, commercial and industrial customers.
- Solutions for the electricity grid.
- Set of distributed energy resources.
- Renewable energy integration technologies.
- Advanced operation and maintenance technologies.
- Electric mobility solutions.
Early identificaction of key trends
for the future of the company
Access to groundbreaking technologies and business models
Fostering a culture of innovation and entrepreneurial activity
WHAT CAN WE OFFER?
Access to Iberdrola's ecosystem
- Access to market know-how and key technologies
- A single contact point
- Access to large volumes of data
- Testing technology in a real environment
- 500,000 to 3 million euros (first rounds)
- Co-investment with venture capital companies and funds
MAIN AREAS OF INTEREST
Smart solutions for residential, commercial and industrial customers
- Devices for smart homes/buildings
- Energy management platforms
- Customer loyalty tools
- Electric heating, etc.
Solutions for the power grid of the future
- Technologies for smart grids
- Advanced automation
- Grid resilience technologies
- Reliability and efficiency, etc.
Management of distributed energy resources
- Battery control technologies
- Thermal electric power
Renewable energy integration technologies
- Flexibility platforms
- Energy storage
Advanced operation and maintenance technologies
- Platforms based on data
- On-line supervision
- Augmented Reality, etc.
Electric mobility solutions
- Charging infrastructure
- Mobility platform
With PERSEO, Iberdrola group promotes different Startup Challenges to find innovative solutions that enable its operation to be improved and its environmental footprint to be minimised. The most recent was Protecting marine mammals, which was launched in April to find technologies to monitor marine mammals and to thus preserve animal life in the area of the Vineyard Wind offshore wind farm.
This year too, the company has launched Collaborative electric charge solutions, which aims to call for innovative collaborative charging proposals for electric vehicle users, and Street lighting and cabling detection, which seeks solutions for optimising the company's database of public street lighting and wiring.
In 2019, the group organised its two first Startup Challenges. The first, Resilience to natural disasters, received 148 proposals from 131 companies in 24 countries. The winner was the Swedish startup Skyqraft, with a proposal for facility supervision using drones. In second place was Photovoltaic cleaning, which received 74 proposals from 70 startups in 25 countries, and there were four winners.
Iberdrola also took part, along with other companies of the energy sector, in the Positive+ Energy initiative to alleviate the economic and social impact of the coronavirus through innovation. In just 13 days, the call made to startups and scaleups received 396 proposals — among them, 14 were selected — related to environmental sustainability, mobility, social impact, digitalisation, telecommunications and 4.0, always from the standpoint of energy.
WHICH STARTUPS ARE WE INVESTING IN?
Iberdrola is investing in electric vehicle charging startup Wallbox.
Through the PERSEO program, Iberdrola has invested in Wallbox, a smart electric vehicle charging company based in Barcelona. This is yet another move to support sustainable mobility, which will be a pivotal sector for the post-COVID-19 recovery and a basic requirement for achieving a low-carbon economy. What's more, supporting and committing to Wallbox will boost Iberdrola's strategy to drive zero-emissions transport by improving electric vehicle charging infrastructure.
ACHIEVEMENTS AND AWARDS
Thanks to its International Startup Program, Iberdrola has been chosen for the third year running as one of the Top 12 Corporate Startup Stars, which recognises the 12 European companies that give most help to startups. In this European Commission initiative, known as the Startup Europe Partnership (SEP), European startups nominate the most active companies in terms of open innovation. Specifically, Iberdrola has received the Corporate Startup Procurement Award 2019, and was the only electricity company selected and one of only three Spanish companies.
Diego Díaz (in the center), responsible for Perseo, collecting the European Commission Award.