Portfolio Day at the Innovation Hub: The next phase of growth
You’re used to hearing us talk about the future of energy and how we see it as a system that includes energy, mobility and human-machine interaction. As energy is a world we know our way around, it’s a good starting point to create something bigger.
That was the perfect premise for bringing together a group of operational businesses responsible from innogy’s core business and founders of our portfolio start-ups. Why did we set up the first Portfolio Day? Because the more decarbonisation, decentralisation, digitalisation and democratisation come into play, the more new technologies like Artificial Intelligence, Blockchain, the Internet of Things or Augmented & Virtual Reality become relevant in co-creating this future energy system, where industry boundaries are already disappearing. innogy representatives were highly interested to take a deeper look into the Innovation Hub portfolio which now includes almost 60 investments.
“The innogy Innovation Hub is all about seeking new investment opportunities, as well as accelerating our existing start-up portfolio. We are now entering the next phase: we support our portfolio start-ups in order to push their market traction and customer growth. Todays´ Portfolio Day with the innogy businesses responsible is about looking for new use cases in the energy industry in order to co-create for the future energy system. A perfect win-win for all: the start-ups, who can boost their business, the investors who see their investment growing and the innogy Innovation Hub who aims to lead the future energy system.”
Annemie Ress, CHRO of the innogy Innovation Hub and Managing Director of innogy UK Innovation Ltd.
There is now an existing portfolio that represents a wide range of solutions for the future energy system and beyond
The audience gained valuable insights into the Innovation Hub approach and how we want to co-create with start-ups and accelerate further to become an energy innovation platform through seed investments from the Innovation Hub and later stage investments from innogy Ventures. Thomas Birr and Jan Lozek, respectively CEO and CFO of the innogy Innovation Hub, presented an overview of the current Innovation Hub portfolio.
At the first Portfolio Day in Essen, we brought start-ups together with selected operational businesses responsible from various innogy areas, as this is usually the area of a corporation where innovation for the core business are desired and implemented. This way we bring together the relevant decision makers on both sides: corporate and start-ups in order to identify and define concrete business follow-ups. For our portfolio start-ups we deliver on our promise that they enter our network with access to our core business mothership. Todays´ Portfolio Day has proven that an exchange between start-ups can be as relevant for growing their businesses as landing spots into traditional business units seeking innovation and digital solutions.
Eleven start-ups from US, Israel, UK, Austria and Germany presented their businesses to the innogy businesses. Together with the 30 innogy representatives, they discussed how to make use of existing business ideas, as well as how to co-create new use cases for the benefit of innogy and the start-ups. The selected portfolio companies included Hopon: http://hopon.co/ , Libryo https://www.libryo.com/ , Visualix https://www.visualix.com/, EWF https://energyweb.org/, Basking https://basking.io/ , Insider Navigation https://www.insidernavigation.com/ , Holo-Light https://holo-light.com/, gridX https://gridx.de/ , Weeve https://weeve.network/, Aedifion http://www.aedifion.com/ , TechSee https://techsee.me/.
“For me it was exciting to look at the growing Innovation portfolio of start-ups and the technologies they are working on. In the innogy retail business we strongly focus on the growth of energy+ business. By discussing and deep diving with them into their topics, I learned about starting points for our B2B business. In the valuable conversations about the platform-based and data-driven businesses of the start-ups, some solutions have emerged which we will certainly take a closer look at for innogy’s energy+ business. For further co-creation, I hope that we will jointly develop use cases to make new businesses. Last but not least, I’m looking forward to meeting the start-up founder again and taking a deeper look at the other investments that are already there.
Beatrice Ermer, Senior Manager, Retail Programme Marketing, innogy SE”
“At the innogy Innovation Hub we accelerate and invest with a unique approach: we co-create and are always globally looking for partners, who can shape with us the future energy system. In pursuit of this mission, we have built an exceptional portfolio of targeted investments that now includes almost 60 investments. For further growth of the portfolio and especially to grow the start-up businesses themselves, we also leverage our reach and access to innogy’s core business for our portfolio companies to be tested with corporate standards – and on the other side, to present the existing portfolio to our Group businesses to also create the best opportunities for them.”
Thomas Birr, CEO of the innogy Innovation Hub and innogy´s SVP for Innovation and Business Transformation