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Lithuanians are invited to participate in the European competition for the start-ups in cleantech sector

06 Mar

On March 1st, the application period for “PowerUp!” by “InnoEnergy” – the fourth edition of the largest competition for start-ups from the cleantech sector in Central Europe – begins. The competition creates a great opportunity for business development and establishing a presence on the international market.

In addition to financial prizes, the winners of the competition may look forward to a chance to participate in the prestigious “Highway® by InnoEnergy” programme which converts ideas and designs into market reality. It offers beginner entrepreneurs financing up to an amount of 150 thousand euros and wide-ranging support in the fields of product development and protection, team building, access to international customers and external financing sources.

Jakub Miler, the CEO of “InnoEnergy Central Europe”, explains that the factor which distinguishes “PowerUp!” among other competitions is not only the extensive experience of the organizers but, most notably, their business-oriented approach.

“We are trying to point out solutions and open doors – “InnoEnergy” is a leading Cleantech accelerator, the success of which is a result of the fact that in addition to money, we also invest our knowledge and contacts. We are managing the largest innovation ecosystem in the world which is comprised of more than 320 members. They include leading power companies in Europe, academic and research centres, cities and regions”, – says J. Miler.

“PowerUp!” competition in Lithuania is organized by “Vilnius Tech Park”. Everybody interested in the competition should apply till April 15th. The regional final in Lithuania is foreseen May 15th.

“Innovations and technologically interesting solutions are the things we most expect from applicants. Seeing the impressive results of the growing start-ups in our park as well as their attracted investments, we are certain that Lithuanians might offer competitive products and services to European and global markets. We, as a local HUB of “InnoEnergy” in Lithuania, will do our best to make the ideas of applicants see the daylight and contribute to the development of clean technologies in Lithuania and improvements of sustainable energy in our region”, – adds Ieva Dirvonskaitė, CEO of “Vilnius Tech Park”.

The grand final of the “PowerUp!” competition in Prague and more than ten country-wide finals will be preceded by Bootcamps. These unique workshops with the best European business mentors provide the opportunity to verify one’s business model and polish the presentation skills of the participants.

The organizer also underlines that mobility, cyber security, and energy storage solutions are particularly sought after on the energy market. The range of interest includes technologies that allow for a reduction of emissions of harmful substances into the atmosphere and those which combat smog. The winner of the previous edition was the Hungarian start-up, “HeatVentors”, which presented an innovative method of storing thermal energy that requires 90% less space and allows to save 20 to 40% of energy.

“Tapping the start-up community is an essential step to achieving one of the main goals of our 2030 strategy: to become the first choice of customers. We believe that partnering with “InnoEnergy” will help us become a vital part of the European innovation ecosystem and we are excited to work together on future projects”, – says Zsolt Winkler, Head of the Open Innovation Hub of the “MOL Group”, the partner of the last year’s edition of the competition.

In order to participate in the competition, you need to have a product prototype, a team, and fill in a form which is available at the competition website,, until April 15th.

We encourage you to watch our social media profiles: Facebook and Twitter and to view the coverage of the 2017 Final Gala.

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