Schneider Electric Launches Initiative to Incubate Bold Ideas, Innovations
Schneider Electric Ventures is geared toward nurturing tomorrow’s transformational and disruptive innovations with funding, incubation and partnerships.
ATLANTA — Schneider Electric, a leading provider of energy management and automation, announced the launch of Schneider Electric Ventures today at the company’s Innovation Summit North America, being held this week in Atlanta.
Schneider Electric Ventures is described as a new initiative to identify, nurture and support innovations that will make a major contribution to future sustainability and energy efficiency. Several major projects are underway and ready to be deployed, according to the announcement.
The press release explaining the new initiative follows:
Innovation is the essential precursor to sustainable growth. Beyond the imperative of finding solutions that will protect our natural environment, companies need to satisfy non-stop growth in global energy demand, adapt equipment for a hyper-connected industrial ecosystem, and comply with ever-stricter regulation.
Schneider Electric already prioritizes innovation at every level. The company spends €1 billion a year on R&D; and EcoStruxure, its IoT-enabled, plug and play, open, interoperable, architecture and platform is at the cutting edge of connected energy management and industrial automation.
A few months ago, the company created Schneider Electric Ventures. The mission of this initiative is to identify, support and nurture companies and entrepreneurs whose innovations will transform the way we live and work, how we produce and consume energy, and how we run buildings and factories.
Schneider Electric Ventures supports innovation through:
- Funding
- Incubation
- Partnerships
At its Innovation Summit North America, bringing together 1,200+ of the brightest entrepreneurs, executives and industry leaders from across North America on Nov. 13-14 at Hilton Atlanta Downtown, Schneider Electric announced some major projects developed by Schneider Electric Ventures.
These projects include:
- eIQ Mobility, a start-up and spinoff from Schneider Electric Incubator, which enables and accelerates electric mobility at scale by providing “Electric Fleet as a Service ” to large commercial fleets.
- Clipsal Solar, a business venture for on-grid and off-grid solutions for residential and commercial applications in Australia, where 1.8 million homeowners have installed solar panels to help manage their energy bills. The market is forecasted to grow with additional 134,000 homes by 2021.
- Greentown Labs Bold Ideas Challenge in partnership with Greentown Labs, focused on fast-tracking entrepreneurs with the mentors, team members, grants of $25,000, and business and technical resources they need to launch successful ventures.
Through its different investment vehicles, Schneider Electric also made equity investments in six companies:
- Sense, the leader in load disaggregation technology
- Element Analytics, a leader in industrial big data analytics
- Habiteo, a 3D specialist for new residential housing
- QMerit, the “Uber” for contractors & MRO spend
- KGS, a predictive engine for just-in-time maintenance
- Claroty, the leading Cybersecurity company for industrial OT networks
“Schneider Electric Ventures is our way of helping innovators turn their vision into reality and make a real difference to the way we live and work,” says Schneider Electric Chairman and CEO Jean-Pascal Tricoire, at the Innovation Summit North America. “Schneider Electric Ventures demonstrates our commitment to innovation, helping innovators and entrepreneurs who share our values develop their ideas and gain access to global markets.”
Opportunities for Innovators
Schneider Electric has committed to invest between 300 and 500 million euros ($338 million-$563 million) in the coming years, in incubation projects, partnerships with entrepreneurs, and specialized funds, and welcomes ideas from innovators and entrepreneurs eager to turn their ideas into reality.
“The investments we’ve made and the companies we’ve incubated so far are central to SchneiderElectric’s vision for the future,” says Heriberto Diarte, Schneider Electric’s Head of Open Innovation and Ventures. “These innovative technologies and services we are investing in will make a huge contribution to creating a world that is more connected, greener, efficient and sustainable.”
For more information visit schneider-electric.com/ventures.
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About the Author
Rodney Bosch, Senior Editor
Although Bosch’s name is quite familiar to those in the security industry, his previous experience has been in daily newspaper journalism. Prior to joining SECURITY SALES & INTEGRATION in 2006, he spent 15 years with the Los Angeles Times, where he performed a wide assortment of editorial responsibilities, including feature and metro department assignments as well as content producing for latimes.com. Bosch is a graduate of California State University, Fresno with a degree in Mass Communication & Journalism. In 2007, he successfully completed the National Burglar and Fire Alarm Association’s National Training School coursework to become a Certified Level I Alarm Technician.
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