The ASEAN group of nations as a whole aims to increase energy efficiency 20 percent by 2020 and 30 percent by 2025. Currently, buildings account for about 40 percent of total final energy consumption in Southeast Asia. Given this fact, they hold some of the highest potential for energy savings. Efficiency is also one of the least cost ways of meeting growing electricity demand in buildings when compared to onboarding additional energy generation.
New Energy Nexus is organizing the Building Energy Challenge 2020 (see 2-page flyer here), which is sponsored by Asian Development Bank Ventures (“ADB Ventures”). This is a workshop style event with the goal of introducing companies with innovative energy efficiency technologies for buildings to commercial property groups and energy intensive corporate partners. Currently, deployment of these solutions are sometimes hindered by a lack of knowledge about their availability or the efficacy of such solutions. This Building Challenge introduces the best companies in the region that offer innovative energy efficiency solutions to some of the most forward thinking corporations in the region and initiate conversations which can lead to pilot projects and commercial deployment of solutions.
Building Energy Challenge 2020 open call for applications targets startup companies working on energy efficient solutions who are already generating revenue, want to scale up and are ready to build commercial relationships in new markets, and thus are potentially ready for investment by ADB and Corporate Partners. Around 10 Startups will be selected as finalists to join the program. Startups will be selected using the following criteria:
- Innovative & Diverse Solutions – clearly innovative or disruptive, differentiated from existing solutions, exhibits competitive advantage potential
- Relevance for Energy Efficiency in Southeast Asia – pilot project ready, pre commercial, pre series A investment (not mandatory)
- Quality of Team – credible team, quality CV’s, relevant qualifications/experience
- Market Potential & Scalability – large addressable market with significant deployment potential
- Business Model – well articulated, viable business plan based on credible data
- Maturity – sufficient funds raised with a six month cash run-way and / or has revenues to engage in pilot projects in new markets
After finalists are selected, the program will consist of initial conversations via online channels, leading to an intensive in person facilitated workshop discussing energy challenges and pilot project design and include a few check-ins between Corporate Partners and the Startups.
Interested startups can apply to the program here.