PowerACE 2021 Awards
1. EcoLabs Special Award (worth SGD 100,000)
1. Development Space – Qualified Start-ups/SMEs will be given product development support space (that includes co-working and co-development space)
2. Access to EcoLabs Resources: Access to our fully functional labs (Battery Proto & Testing, Fuel cells, Power electronics/grids, Low carbon Lab: solar lab, wind& marines, ACMV lab, Smart energy systems lab, High performance computing and access to our AI labs with super computers)
3. Access to our large test beds: More than 10+ test beds across Singapore be it buildings, industrial parks, trade hubs, industrial scale microgrids testbeds, smart carparks, supply chain cities, data centres, airports, mobility as a service platform, AV test tracks, and others.
4. Access to seasoned energy tech experts: One on one session with renowned prolific inventors, scientist, researches and energy industry professionals
5. EcoLabs Partner Benefits: Our EcoLabs partners will also provide unique access to their deep design expertise, access to their fab-houses, proof of concept support, access to pilots, market knowledge and meeting with top executives to provide mentorship/guidance.
6. Translational Program - The program is catered to start-up specific translation needs. EcoLabs will step in to provide needed resources be it R&D manpower, labs, equipment’s, testbeds, access to market opportunities and several investor pitches
7. Mentoring - During our 3-month translation program, our business mentors will handhold you about translation know-how that is required to translate a product/technology to market
8. Project Funding Support- Qualified SG Based startups post acceleration program will be in a position to tap to 70:30 project funding support from ESG.
9. Network - As business begins to scale, EcoLabs will introduce startups to Singapore Ecosystem. i.e., key access to Gov’t Agencies, different funding schemes in Singapore, local investors, industry partners and commercial projects. A key account manager will be assigned to develop their SG market introduction/entry program.
Criteria for Evaluation
• SG registered SME/Start-up or to be registered as SG entity
• Entities should have Singapore market focus for design, development and deployment
• Should have working roadmap for > 12 months or so.
• Should be deep tech company with strong proprietary know-how backed by research /application
• TRL 3 and above only
• Strategic Sector Fit with EcoLabs & its industry partners
• Business will be evaluated: For Scalability, Defensibility, Value Differentiation, Economically Feasibility, Time to Market, Development Factor Risk, Market Fit, Commercial Interest/Traction and Team Core Capability
Prize Sponsored by:
About Ecolabs
Established in 16th April 2019, the Ecolabs Centre of Innovation for Energy @NTU (EcoLabs) aims to build and accelerate deep-tech energy innovation capabilities in Singapore to support the nation’s future energy transition. Supported by Enterprise Singapore (ESG) and Sustainable Energy Association Singapore (SEAS), this joint initiative aims to help local energy startups and SMEs to successfully commercialise and scale their innovation efforts. This is done by providing them with essential translation facilities such as Research, Development & Deployment (RD&D), lab infrastructure, testbed sites, and business opportunities.
2. BloombergNEF Special Award (worth SGD 82,000)
The BloomberfgNEF Special Award is given to a start-ups that demonstrate a clear, game-changing technology or innovation with the potential to accelerate global decarbonization and halt climate change. With access to the BNEF service for a year, the company must agree to the terms and condition of BloombergNEF.
Criteria for Evaluation
• Company has potential impact on the tranisition to a low carbon economy, degree of innvoation and likeholld of adoption
• Entities with a strong regional APAC presence and a diverse team
• Must comply with BloombergNEF policy
Prize Sponsored by:
About BloombergNEF
BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. They help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
3. PFAN Special Award (worth SGD 13,000)
Assessment of Project
A panel of PFAN industry veterans will assess the project for commercial and financial viability. PFAN will select projects for further coaching based on PFAN eligibility and level of maturity (projects that are commercial and near investment-ready).
Assignment of PFAN Advisor to Coach Project
A PFAN Advisor will be selected matched to the project based on business types and technology proposed. This is to maximise the coaching effectiveness during the given contract period. The PFAN Advisor will focus on three main areas:
- Business Plan
- Financial Plan
- Investment Pitch
Re-assessment of Project after Advisory Period
After projects complete the initial phase of “Project Development” coaching, they will be re-evaluated by a PFAN panel for completeness and assessed for their readiness for investment.
Investment Facilitation
Projects that are deemed “Investment-Ready” will be showcased to PFAN Investment Members, as well as to investors beyond the PFAN network. Some projects may be nearly investment ready, and these projects may be promoted directly to be managed by PFAN Investment Facilitation Team.
Access to PFAN Network of Investors and Partners
Projects that have been accepted for PFAN advisory services will have access to our Network Members. This not only improves their chance of financial investment, it also allows opportunities to collaborate with industry partners to market the solutions or products of the project.
Criteria for PFAN selection
- First and foremost, projects should be commercially and technically viable, and have a strong management team.
- Project or business must provide offer benefits in the areas of (a) clean energy technologies, products or services; (b) other areas of greenhouse gas mitigation (e.g., sustainable landscapes); or (c) climate change resilience and adaptation.
- Projects must be targeted toward low- and middle-income countries, and have business operations, or business development activities in these countries.
Prize Sponsored by:
About PFAN
The Private Financing Advisory Network is a global network of climate and clean energy financing experts that aims to bridge the gap between entrepreneurs developing climate and clean energy projects and private sector investors. PFAN showcases selected investment-ready projects to investors and provides one-on-one investment facilitation services to investment-ready projects, shortening the path to further growth. Its goal is to build clean energy markets to mitigate climate change and mobilise private investment in support of the Paris Agreement on Climate Change and the Sustainable Development Goals. PFAN is hosted by the United Nations Industrial Development Organization (UNIDO) and the Renewable Energy and Energy Efficiency Partnership (REEEP).