Power Circle Summit 2017: successful Innovation Race with awarded start-ups!


InnoEnergy was at Power Circle Summit 2017 conference that was held in Gothenburg, Sweden, on 09 May and co-organised the Innovation Race with the Swedish Energy Agency. Among the three finalists, two start-ups supported by InnoEnergy – Swedish Algae Factory winning the first prize and Phoenix BioPower reaching the third position. Congratulations!

Power Circle Summit brings each year Sweden’s key decision makers, influencers and thought leaders together under one roof to discuss innovation, energy technology, business models and strategy. The theme of this year’s Summit was “Sustainable solutions for future energy users – are the technology and opinion ready?”

20170509_133524In 2016 edition, CEO Diego Pavia addressed the conference, highlighting the need for collaboration in Europe to drive energy innovations toward global success. This year, InnoEnergy emphasised the role of start-ups in driving energy sustainability while organising the Innovation Race together with the Swedish Energy Agency.

When on stage, Kenneth Johansson, CEO InnoEnergy Scandinavia, highlighted InnoEnergy’s role in supporting start-ups and leading them to market. “The early years in any start up are a time of excitement, possibility and opportunity. They are also years of hard work and potential risk as entrepreneurs attempt to develop their product, build a team, and secure their first sale. At InnoEnergy, we understand these challenges and we are committed to support every one of our start-ups with individual tailored services to transform a business idea into a successful enterprise.”

What is the Innovation Race?

90 minutes dedicated to entrepreneurship and innovations that make a difference in the field of sustainable energy. It is also a great opportunity for entrepreneurs to meet executives and decisions makers who could become potential partners or customers. During the contest, ten start-ups are given the opportunity to pitch in front of an audience with extensive experience in the energy sector. The audience rates the pitching start-ups in terms of innovation, business potential and contribution towards sustainability. The three start-ups with the highest score access to the final and further develop their business idea to a jury of experts. The winner receives 100.000 SEK (approx. 10K€) while the second and third finalists receive 50.000 and 25.000 SEK (approx. 5 and 2,5K€) respectively.

Our warmest congratulations to Sofie Allert, CEO at Swedish Algae Factory, and to Henrik Båge, Founder of Phoenix BioPower, for being awarded the first and third prizes respectively. Congratulations also to all remaining selected start-ups that encourage new ways for the energy industry with their entrepreneurial spirits.