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.
KEY FIGURES OF THE IBERDROLA - PERSEO INTERNATIONAL STARTUP PROGRAM
Total budget: 70 million euros
Close to 60 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
The program focuses on technologies and business models that can improve the sustainability of the energy model by means of achieving a higher degree of electrification and the decarbonisation of the economy.
Thanks to this, the company 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.
Through this program, Iberdrola can provide startups, particularly in Spain, the United Kingdom and the United States, with its support as an investor, as well as its expertise, its base infrastructure, with 30 million supply points and its close to 50 GW of installed capacity. In this way, it contributes to developing and boosting an innovative corporate fabric in the energy sector.
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.
In 2019, Iberdrola launched its first two Startups Challenges. In the first one, Resilience to natural disasters, 131 startups from 24 countries submitted 148 proposals. Swedish startup Skyqraft was winner, with a proposal of supervision of facilities with drones. The second, Cleaning photovoltaic panels, has received 74 proposals from 70 startups from 25 countries. In 2020, two more challenges have been launched: Collaborative Electric Charge Solutions, which seeks collaborative charging solutions for electric vehicle users, and Street lighting detection and cabling, which requires solutions to optimize the company's public lighting and cabling database.
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
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
WOULD YOU LIKE TO LEARN ABOUT A PRACTICAL CASE?
A notable example is the Iberdrola's investment in the American start-up Innowatts, dedicated to the development of Artificial Intelligence solutions for the energy industry sector. A pilot project was carried out with this company, which resulted in the company receiving an investment as part of the Iberdrola - PERSEO Startup program. Innowatts, with its headquarters in Houston, started its commercial operations in 2014, managing to secure the necessary capital to expand its analysis and artificial intelligence platform, as well as to expand the commercial capacity of its digital solution e-Utility.
For the second year in a row, Iberdrola has been recognised by the European Commission as being one of the European corporates that does the most to support start-ups. In 2018, Iberdrola was named one of Europe's Top 12 Corporate Start-up Stars, the only Spanish company in the category, which recognises the continent's 12 corporate leaders. We also received our second special mention in the Start-up Procurement Award category for the technological pilots and purchases done with start-ups.