EirGrid is to offer up to €10,000 in funding to start-ups that successfully pitch innovative energy-related products or services to senior executives in March.
EirGrid is on the lookout for apps and services that could complement the rollout of smart grid electricity networks, which depend upon ICT to integrate the actions of all users on the network.
Ireland and Northern Ireland have a significant opportunity in smart grids, due to the levels of wind-generated electricity on the power system, which can be up to 50pc at any one time.
This enables us to become effectively a live laboratory of smart grid evolution, as our system must be managed in a unique way.
The Smart Grid Innovation Hub is a collaborative initiative by EirGrid Group and NDRC to promote the development of innovative smart grid solutions, with a focus on entrepreneurial initiatives by companies, academics and entrepreneurs in Ireland and Northern Ireland.
The competition is open to any start-up in the Republic of Ireland or Northern Ireland with a smart grid solution or service which has been in operation for less than three years and has received fewer than €1m in funding to date.
Entrants will be judged on the originality of the idea, the ability to address current and future electricity system challenges and the market opportunity and business case.
Four short-listed entrants will pitch their ideas to a judging panel of top industry professionals and noted experts in front of an audience at this year’s Energy Show on 12 March.
All information can be found on the Smart Grid Innovation Hub’s new website. The closing date for applications is 21 February.