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InnoEnergy, KTH, STING partner to build open innovation platform for energy projects

Published 23 March 2018

InnoEnergy Scandinavia, KTH Innovation (KTH) and Stockholm Innovation & Growth (STING) have partnered to build an open innovation platform for energy-related projects.

The goal is to coordinate and facilitate the contact between early-stage companies and established industry players to co-create and develop demand-driven solutions.

Teaming up for greater impact

InnoEnergy, KTH and Sting’s ambition is to establish a platform in the energy and sustainability area that will match established companies’ needs or challenges with innovative products and services from innovation projects, start-ups and entrepreneurs.

The three partners have together broad networks, vast geographical coverage including outside Sweden, and a very large flow of relevant projects, research and start-up companies in the energy field. Joining forces and building a common and structured platform will result in synergies and increased opportunities for cooperation and innovation.

Open innovation encourage companies to be open to new business models and skills that may not be represented in-house. These forward-thinking companies access innovation by acknowledging the benefits of searching for new ideas beyond company boundaries rather than relying on internal development.

InnoEnergy business creation manager Markus Berglund said: “Open innovation is all about collaboration. Our ambition is to illustrate how collaborating with start-ups and SMEs can accelerate the time to market of innovations, increase differentiation and create new revenue streams for large companies.”

Accelerating the energy transition

The initiative is supported by the Swedish Energy Agency, with the aim to accelerate the transition to a more sustainable energy system, and to further build on Sweden’s innovation ecosystem.

Swedish Energy Agency portfolio manager & business developer Sasan Shaba said: “We want to create opportunities for companies with innovations in the energy sector to commercialise their ideas. An initiative like this creates a clear connection to local and regional innovation systems, enables everyone to pull in the same direction and established new cooperation mechanisms, where we can implement concrete measures to commercialise energy innovations and as such contribute to the shift in energy systems.”

It will start as a one-year pilot project, with the possibility of a two-year extension. More to come in the coming months. In the meantime, we encourage large established companies facing energy challenges to contact us.

Source: Company Press Release