Capital Energy Quantum launches its first open innovation challenge in Galicia to boost the development of startups in the region

• The enterprise invites Galician startups to develop cutting-edge and disruptive technological solutions applied to Industry 4.0, the promotion, operation and maintenance of renewable assets, energy products for end-customers and sustainable mobility
• There will be a one-month registration period for the challenge and the winner will have the opportunity to develop a six-month pilot project funded by Capital Energy Quantum

Santiago de Compostela, 1 April 2022.- Capital Energy, the Spanish energy enterprise founded two decades ago with the aim of becoming the first vertically-integrated, 100%-renewable energy operator in the Iberian Peninsula, has once again demonstrated both the pivotal role of innovation and green energy transition in its strategy, and its commitment to the socio-economic development of Galicia.

By means of its corporate venturing vehicle, Quantum, and within the framework of its involvement in the Startup Congress Galicia 2022, the group has launched its first open innovation challenge in the region, in which it invites startups from Galicia to develop state-of-the-art and disruptive technological solutions applied to Industry 4.0, the promotion, operation and maintenance of renewable assets, energy products for end-customers and sustainable mobility. Also collaborating in the initiative is the private equity firm Unirisco, which supports startups from Galicia founded within the university ecosystem and which will encourage the enterprises in its portfolio to take part.

Startups interested in taking part in the challenge will have to meet certain requirements, such as being based in Galicia, having a significant presence in the region or having plans to set up there in the short term. They must also present a market-tested product and have sufficient operational and financial capacity to implement their project within the periods established in the call for proposals.

For its part, during the selection process Capital Energy Quantum will assess aspects such as the contribution to sustainability and the degree of innovation of each application, as well as the experience of the teams involved. It will also take into consideration implementation and production times, development costs and the estimated useful lifetime of the proposals.

There will be a one-month registration period for the challenge and the winner will have the opportunity to develop a six-month pilot project funded by Capital Energy Quantum, with work to begin no later than three months after being selected. In addition, Quantum will afford visibility to the solutions short-listed as finalists, which will be disseminated on its website and social media profiles and evaluated by a panel composed of top-tier experts.

In her speech at the Startup Congress Galicia 2022, the Director of Capital Energy Quantum, Erika Escolar Eguia, highlighted that, "This initiative buttresses our commitment to the talent and the distinctive character of Galician startups, in line with our aim to become drivers of social and economic growth in Galicia, a key region for our renewable energy project". She also pointed out that, "This challenge will not only lead to an effective improvement of our daily processes, but will also boost the competitive capacity of the participants".