Europe’s 25 Corporate Startup Stars winner seeks to maximise innovation while minimising risk through its collaborations with start-ups
Portuguese energy supplier EDP launched EDP Starter to crowdsource ideas from start-ups to develop and pilot these with a view of getting them investment-ready.
Dealing with technological issues is a particular challenge for the energy sector, but EDP’s holistic approach allows it to identify most failures at the pilot stage.
This minimises risk, but also allows space for innovation. For example, Feedzai software, the first product incubated by EDP Starter, was tested in wind farms and later invested in – and by December 2015, its turnover had reached €20m.
Image courtesy of SVC2UK CEO Summit 2015.
This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 644104.