Thank you for your applications!
Spin Your Startup To The Next Level!
EnergySpin started as an innovative platform to share ideas and trends and developed into a multi-corporate accelerator program, supporting startups to grow, connecting them to corporates, and helping them to challenge the status quo of the industry.
EnergySpin believes in a clean and sustainable future. And that is why it wants to help startups and enterprises reach their goals, and together build a world, where clean and affordable energy is provided for everyone.
EnergySpin spins energy companies to the next level – worldwide.
Energyspin is a growth program for startups seeking international growth. It is a ten-week-long accelerator program including company-specific training for business growth planning, product development, commercialization, financing, and marketing.
All startup companies in the energy sector are welcome to apply, as well as startup enterprises in fields linked to the energy sector, such as digitalization, IoT, cybersecurity, and gamification, including smart grid, power optimization, renewables.
EnergySpin offers a unique opportunity to get a real impression of the prospects of the Vaasa region energy cluster. Its international partner companies are looking for companies that are ready to change the future. EnergySpin opens the doors for you, are you ready?
FALL PROGRAM 2021 TIMELINE
21 August 2021
• Top 40 startups are invited for the Selection Days
• Up to 10 finalists will be selected for the Fall Program 2021
1ST PHASE OF THE PROGRAM
• Product Excellence Workshops
• Meetings with Corporates
• Go-to-Market Workshops
• Mentoring & Coaching
2ND PHASE OF THE PROGRAM
• Investor Excellence Workshops
• Individual Meetings with Corporate Partners
Finnish CleanTech Geyser Batteries recently raised €1 million seed funding to further develop its water-based sustainable batteries. Without any elements of Li-ion technology, Geyser developed a new energy storage mechanism. With energy density close to high-power Li-ion batteries, the company's products keep working up to 10-100 times longer with high-power functioning steady over time, which makes them ideal for hybrid powertrains & long-term heavy-duty power grid system. The Vaasa-based company currently has B2B customers in transportation, industrial machinery, and power grid sectors.
Instagrid has recently completed a Series-A funding round totaling €8.5 million. The company has developed an advanced portable power pack to replace highly polluting petrol and diesel generators. Founded in 2018, Instagrid offers a robust solution that exceeds the technical specifications and capabilities of what is available on the market today. With offices in Finland and Germany, the company gives its clients grid-like power delivered from a portable source, with solutions for the construction industry, event organizers, gardeners, fire brigades, disaster recovery and humanitarian organizations.
What is EnergySpin?
EnergySpin is a startup and growth company multi-corporate accelerator that is focused on technologies and solutions which could be implemented in the energy industry. The accelerator program is run twice a year for 10 weeks at a time. Each time up to 10 companies are chosen for the program.
After the program, EnergySpin offers the startups participating in the program an opportunity to continue to use the co-working space and services for an additional three months. Their team will continue to work with you to develop your business and customer relations and introduce you to service providers and new partners.
What is a multi-corporate accelerator?
A Startup accelerator is a fixed-term and cohort-based program that provides defined assistance and services such as mentorship, co-working space, and education for a limited period of time.
A multi-corporate accelerator is a program run by a specific intermediary company, such as EnergySpin, on behalf of a number of corporates that financially contribute to the operations of the accelerator program. The aim of these corporate partners is to collaborate with the most innovative and promising startups in their specific area to solve a pressing business issue they are facing.
At its core, EnergySpin works towards establishing and grow mutually beneficial cooperations between startups and corporate partners.
What can I expect from the program?
EnergySpin is part of your team. They don’t just advise you, they work with you shoulder to shoulder each and every day to build successful stories. At EnergySpin, the goal is to get you to launch your idea to the world.
The accelerator offers startups the chance to present their use cases to its corporate partners, who are open for possible pilots, PoCs, and other forms of cooperation. The program also includes mentorship by international executives and serial entrepreneurs, workshops focused on going from minimum viable product to minimum meaningful product, organizing of financing, assistance, and connections within marketing and international product distribution and other startup and industry-relevant topics.
EnergySpin's corporate partners will be with the startups from the beginning of the program to help with technology, market insights, distribution, and more.
What stage does my startup need to be at?
The application will be considered regardless of the stage of your company. However, you should be able to showcase a prototype of your product/ service.
How much does the program cost?
Participating in the accelerator is 100% fee-free.
Is the program full- or part-time?
The accelerator is built as a 10-weeks part-time program. However, you will need to be physically present only during specific weeks, when all the workshops, coaching sessions and meetings happen. The rest of the time you will be able to work from your home base.
However, EnergySpin encourages you to stay the entire 10-weeks, use its premises and get the most from the accelerator and 10 weeks in the unique business cluster.
Do you also invest cash?
EnergySpin and its partners are able to invest in the most promising companies taking part in the program up to 1 Million €.
When do you invest?
EnergySpin invests in the most promising companies at the end of the Accelerator Program. They believe long-term alignment with companies is the only way to build great value, and the 10-weeks program is the best way to establish such alignment.
First, EnergySpin wants to help its portfolio companies to find the right path, and when they do, EnergySpin can financially commit to helping them reach the next milestone.
Is there a guarantee I will be funded when I am accepted into the accelerator?
Participation in the accelerator is not tied to any financial funding.
However, you will be exposed to many international investors during your time in the program. It is up to you to grab their attention with your company.
We don't really need any additional funding, does it still make sense to apply?
Absolutely. Being accepted into the accelerator is not tied to, nor does it guarantee any financial funding.
Where will we live while we are attending the accelerator?
Finding accommodation for the time of the accelerator is up to you. EnergySpin will be happy to provide you with some tips and tricks on how to get something in Vaasa, Finland.
Is there any support for the cost of living during the time of the accelerator?
EnergySpin does not offer any financial support.
My startup already has investors, can I still apply?
EnergySpin does not take any of your equity, and if you get the attention of one of the many investors during the program, it will be up to you to make a decision concerning further funding.
What size should my team have and can I bring everyone to Vaasa, Finland?
The size of your team does not matter to EnergySpin. However, each team can have a maximum of 2 people participating in the program.
Do we have to be EU citizens?
No, being an EU citizen is not a criterion in the selection process.
However, EnergySpin cannot guarantee that you will be granted a Finnish visa.
What is the role of the partners?
EnergySpin's partners are an integral part of the EnergySpin accelerator program. In fact, their curiosity prompts EnergySpin to look at specific trends and requirements.
In other words, EnergySpin works together with them to find and select the most promising companies to revolutionize energy together. EnergySpin's program has been designed to facilitate such collaboration from day one. EnergySpin can promise you unique and direct access to these industry leaders.
Who are your mentors?
EnergySpin's mentors are energy experts, serial entrepreneurs, venture capitalists, angel investors or other professionals to provide you with the best experience, help and network out there.
What kind of business model do you get most excited about?
EnergySpin is not looking for one particular business model. Above all, EnergySpin wants to work with teams that want to solve real problems and transform industries.
What are you looking for?
EnergySpin is looking for companies that are solving real problems in the energy business. EnergySpin selects companies based on the team, idea, and the potential to disrupt global industries.
EnergySpin tries to assess the founders’ ability to interact and benefit from interactions with our partners, mentors and community. Ultimately, EnergySpin looks for companies that have strong potential for collaboration with one or more of our corporate partners, and which can benefit from the platforms, distribution channels and expertise that partners provide.
How many startups do you select each year?
EnergySpin runs two programs each year. One in Fall and another in Spring. Each batch takes in a maximum of 10 companies. Companies can stay at EnergySpin's space for up to 6 months.
What is the application process like?
EnergySpin has a three-step process:
1. Filling in and submitting an online application
2. The first round of selection: Selecting 40 startups that will be invited for Selection Days
3. Selection days: A 2 days event, where startups meet with EnergySpin's corporate partners, mentors and coaches. Based on their evaluations up to 10 startups will be selected for the program.
During the process, EnergySpin tries to be as transparent and founder-friendly as it can, given that EnergySpin has been in your shoes and understand what it’s like to start a business.
What does EnergySpin get from us?
You can pay EnergySpin back by succeeding with your company and developing projects with its corporate partners. EnergySpin wants you to grow and succeed.
EnergySpin doesn’t take equity from participating startups, but in exchange for the program, EnergySpin can invest in the company with a 25% discount within one year, if the startup is willing for EnergySpin to join. When EnergySpin does invest, it receives normal stock, which is just like founders’ stock. You maintain complete control of your company and EnergySpin remains committed to making you successful.