Decisions are made fast at the #eSelectionday. This benefits the Group, by enabling it to consolidate its market presence, and startups, by providing a straightforward way for them to gain customers for their solutions.
What happens when an Austrian energy company joins forces with the largest, most successful startup incubator in Silicon Valley? Precisely: innovation
About Plug and Play
Since being founded 12 years ago, Plug and Playhas become the biggest innovation platform in the world. It now has 22 active locations across the globe. Plug and Play makes around 160 investments each year, illustrating the enormous speed and flexibility with which it works.
But the work doesn’t stop here, because the innovative ideas coming from Silicon Valley and from Berlin (Plug and Play has a branch here) still have to be implemented by companies. And this is why Next Incubator has set up the #eSelectionday, an event that gives businesses the opportunity to present their solutions in four‑minute pitches to the Energie Steiermark Management Board. It doesn’t matter where the businesses are based, because the pitches are presented via video conference. This means Energie Steiermark is able to bring in innovation across national boundaries. But seeing presentations on different solutions is not enough: as the name of the event suggests, it’s all about making choices. As soon as the pitches are over, Management Board members are asked to write down which solution they are interested in, or which solution might be useful to their area. This process means that the businesses have to be contacted within two weeks and the key features of any potential collaboration or possible pilot project worked out.
So the #eSelectionday makes decisions fast. This benefits the Group, by enabling it to consolidate its market presence, and startups, by providing a straightforward way for them to gain customers for their solutions.
Participants in the 1st #eSelectionday
Noiseless Accoustics (Finland) uses state‑of‑the‑art technology to make sound visible – which helps with early detection and location of anomalies (e.g. at electrical substations). This is then transferred automatically to the cloud for further analysis and signal processing. The software never stops learning and thus continually improves its understanding of audio signals.
LiveEO (Germany) uses satellite technology to analyse large‑scale infrastructure networks (e.g. electricity grids). The startup enables users to save on operating costs by monitoring hazards arising from vegetation, height changes or construction activity throughout networks, and generating an overview of thousands of kilometres of network on the basis of the data collected.
Xelectrix power (Austria) develops multifunctional storage solutions that aim to keep networks stable, optimise internal use and minimise network load. The mobile Xelectrix Powerbox works in parallel with generators to optimise their efficiency and performance. The stationary Xelectrix Powerbox works in parallel with networks, storing and supplying power and thus supporting networks.
Neuron Soundware (Czechia) provides a unique opportunity for early‑stage detection of malfunctions in machinery and systems. Sound and vibration data are gathered by external acoustic sensors and immediately evaluated by self‑learning software. Unique pre‑processing of audio data means the independent neural network is continually learning and detecting anomalies extremly fast.
ReSec (Israel) provides comprehensive protection for businesses from file‑based known and unknown malware threats. More than 50% of attacks originate from documents (incl. emails). In contrast to other providers, the startup provides prevention rather than detection. The gateway classifies all files as threats and prevents them from entering business networks. Then patented CDR (Content Disarm and Reconstruction) technology is used to create perfect, fully functional and completely safe replicas of the original files, which are sent to end users.
Sensewaves (France) has developed Adaptix, a cloud-based AI (Artificial Intelligence) tool used by electricity networks and industrial sectors for forecasting, anomaly detection and root cause analysis. The aim of Adaptix is to use innovative data quality improvement technology and forward‑thinking analysis technology to reduce downtime, facilitate early detection of critical events and generally optimise processes. Its innovative feature is a self‑modifying algorithm that works with inexpensive IoT components to evaluate machines’ sound waves and other parameters.
BroadBit (Finland) markets an innovative battery technology based on sodium chloride (table salt), which outperforms the lithium batteries currently in use on cost, energy, sustainability and scalability. The new batteries will make electric cars less expensive and more efficient and grid storage more commercially attractive. They may even enable electric planes to be produced. The startup’s batteries can be charged incredibly quickly and have high energy density and low materials and production costs.