18/05/2018
The Turkey Country Finals of the PowerUp! Competition held by EIT InnoEnergy in Turkey and 23 European countries for startups in energy and clean technologies featured 10 startups who were chosen for their innovative work in clean energy and environmentally-friendly technologies. The finals were held at the Istanbul Sabancı Center in association with Sabancı University, EIT InnoEnergy's only partner in Turkey. The winning startup was Reengen founded by Şahin Çağlayan and Utku Simitli, and the runner-up was Momentum Ar-Ge founded by Rahmi Erdem Yıldız.
The 4th PowerUp! Competition held by EIT InnoEnergy received submissions from 299 energy-based startups from Turkey and 23 other countries from Central and Eastern Europe. The majority of the submissions were from Turkey, and PowerUp! Turkey Country Finals were hosted by the Sabancı University Startup Company League (SUCool) at the Sabancı Center on Thursday, May 10, 2018.
Commenting on the competition, Sabancı University Startup Company League and EIT InnoEnergy Turkey Director Başar Kaya said:
“The entrepreneurship ecosystem in Turkey is new but burgeoning. Energy startups draw the most attention to themselves due to both regional priorities and global developments. High regulation in the energy business and market dynamics controlled mostly by large players may prevent startups from entering the market. The support of an institution like InnoEnergy, with its expertise in the global energy markets and strong business partners, has the potential to carry a startup beyond its local market to the global scene. Thus, PowerUp was critical to energy entrepreneurs in Turkey for establishing contact with EIT InnoEnergy and becoming part of the global business network. The fact that Turkey accounts for the most submissions among the 24 countries shows how motivated energy startups in Turkey are to expand to global markets."
PowerUp Turkey was held in association with the Sabancı University Startup Company League (SUCool) and received submissions from 37 startups. The 10 chosen startups attended the Bootcamp on May 5 and 6, 2018 to work on their business models with expert trainers, mentors and energy sector professionals, and rehearsed their presentations for the finals. The 10 startups presented their business ideas to a large audience consisting of energy sector representatives and investors at the finals on May 10.
Startups were assessed by the jury panel based on the originality of their products and services, the benefit to the energy industry, and potential for growth in global markets. PowerUp Turkey jury members were Sabancı University Presidential Advisor Dr. Volkan ÖZGÜZ, Sabancı University IICEC Director Dr. Carmine DIFIGLIO, EnerjiSA-EON CTO Gül EROL, VESTEL Ventures Board Member Cengiz Ultav, and InnoEnergy Cooperation and External Fund Operations Associate Michal Bajda.
PowerUp! Competition Gold Sponsor RAFAKO’s CEO Agnieszka Wasilewska-Semail said the following about the significance of the competition:
“At RAFAKO, our business is not limited to equipment design and production; the environment plays a large part as well. That is why we support InnoEnergy’s mission to make a great impact through innovation in sustainable clean energy. Our goal is to make energy production as environmentally-friendly as possible. The PowerUp! Competition is a perfect match with RAFAKO’s objectives. We hope that the startups discovered in this competition will contribute to a cleaner environment.”
The country finalists will compete against each other at the Žofín Palace in Prague on June 19 for the grand prize of 30,000 Euros and participation in InnoEnergy’s prestigious Highway® Accelerator Program to prepare for a stronger entry into the market.
About EIT InnoEnergy
EIT InnoEnergy is the innovation engine for sustainable energy across Europe. At InnoEnergy we support and invest in innovation at every stage of the journey – from classroom to end-customer. With our network of partners we build connections across Europe, bringing together inventors and industry, graduates and employers, researchers and entrepreneurs, businesses and markets. We work in three essential areas of the innovation mix:
- Education to help create an informed and ambitious workforce that understands the demands of sustainability and the needs of industry.
- Innovation Projects to bring together ideas, inventors and industry to create commercially attractive technologies that deliver real results to customers.
- Business Creation Services to support entrepreneurs and start-ups who are expanding Europe’s energy ecosystem with their innovative offerings.
Bringing these disciplines together maximises the impact of each, accelerates the development of market-ready solutions, and creates a fertile environment in which we can sell the innovative results of our work.
InnoEnergy was established in 2010 and is supported by the European Institute of Innovation and Technology (EIT).