March 31, 2020 9 AM

EIT InnoEnergy proceeds with PowerUp! Challenge’s country finals online

EIT InnoEnergy, the engine behind Europe’s sustainable energy transformation, will go ahead with its selection programme for acceleration and business development called PowerUp! Challenge to find and fund the most promising startups, scale-ups and SMEs in Central Eastern Europe. For the changed global situation caused by the Coronavirus, InnoEnergy moves the country finals to online platforms and monitors the situation further, if the Grand Final needs rescheduling.

This year saw a record number of applications for InnoEnergy’s PowerUp! Challenge. From 24 Central Eastern European nations 425 early stage companies registered to EIT InnoEnergy’s PowerUp! Challenge until the 10th March deadline. The Challenge offers the opportunity of multi-million euro investment to innovative ventures and the possibility to join the EIT InnoEnergy network. These companies will get: support in product enhancement and development, pilot projects, commercialisation strategies, international market introduction, expansion, and further funding opportunities.

From among the applicants, a record number of 360 eligible startups competing for the national title Startup of the Year in their respective countries. The best will have the chance to go for financial prizes up to €65.000 and valuable offerings from key partners like Amazon Web Services, Revolut or SpeeUp Group.

For the changed global situation caused by the Coronavirus, InnoEnergy moves the country finals into online platforms. The online events will be held from the beginning of April until late May. All Country Finals' dates will be updated soon.

InnoEnergy is constantly monitoring the situation if the Grand Final needs rescheduling, the decision about the timing and venue will be made later depending on when restrictions imposed by governments, are revoked in the region.