£125,000 new funding for the Dynamic Demand Challenge
The Centre for Challenge Prizes team is thrilled to announce that Climate-KIC has awarded more than £125,000 through the Climate Market Accelerator (CMA) to the Dynamic Demand Challenge, a prize aimed at shifting electricity usage towards renewable energy at off-peak times.
Working with Climate-KIC has really expanded our European audience and we hope that through their networks we can attract new kinds of entrants with ideas that shift demand and potentially change the way UK households and small businesses use energy on a day-to-day basis.
The funding from Climate-KIC will allow people with ideas (yes! Anyone in Europe can enter!) to develop them into close-to-market products. Shortlisted entrants will be given the opportunity to test at the world leading measurement facilities at The Centre for Carbon Measurement at NPL and receive invaluable support from experts at the Hack event, taking place on 18 and 19 October, to build their ideas at Imperial's Faculty of Engineering, Design Engineering Group and the Imperial College Business School.
The Centre is entering new territory – this will be one of the first times we use a Hackathon-style event to assess ideas and we're really excited to see how the two days will pan out.
We are following Climate KIC's lead in that they hosted a successful Hack weekend last year for the entrants of the Open Innovation Slam. It will be an intense experience for all, jollied along by copious amounts of sugar and power naps, but we believe that this kind of concentrated development will really push the entrants and their ideas to a high standard.
Following the Hack and a further six-month development phase, the entrants and their business plans will be assessed by a judging panel and a prize of £50,000 (which is separate from the £125,000 Climate-KIC funding) will be awarded to the solution that demonstrates the most significant impact.
The challenge is open so get your entry up on the platform and meet the community! Remember, the solution must be applied within a UK context and demonstrate:
- Innovation: new or improved products, technologies or services
- A shift in demand: a demonstrable shift in demand to off peak times and / or towards renewable energy generation
- Sustainability and scale: potential for scale and with market potential
Deadline for entries is 5pm, 9 September 2013 – see the website for how to apply: dynamicdemand.nesta.org.uk
If you'd like to read the full press release, please read here: www.npl.co.uk/news/125k-extra-funding-for-dynamic-demand-challenge