Innovation Challenge Set-Up
During the process, we go through several phases.
Preparation of the challenge
Offshore Wind Innovators Business Partners will be contacted and asked to present a challenge in need of an innovative solution. These challenges will be part of an invitation letter to innovative entrepreneurs of our Community.
Innovation Challenge Kick-off
The challenges from leading Business Partners will be published and we will start the search for solutions providers like start-ups and SME’s, companies within and outside the offshore wind industry.
Deadline for applications
Entrepreneurs can submit their proposals in a fixed format while having received the rules of the Challenge made available in the “participant document”. The next step is a fit-for-purpose scan by the Business Partners in order to continue as a participant.
Phase 1: Pitch and Ask session
Each participant gets the possibility to pitch his idea or concept solution of the Challenge topic to the Business Partner. Out of these presentations, the Business Partner who addressed the specific topic will select 3 to 5 participants per topic to go to the Bootcamp.
Phase 2: Bootcamp
During the Bootcamp, the selected participants will go into depth on the technical part of the Challenge with support from the business partners technical team and offshore energy experts. Each participant needs to make (only) their technical (non-confidential) information available to the Business Partner for technical and commercial Due Diligence. If the proposed solution passes this check, the participant will be invited to the final event. After the Bootcamp, a maximum of 3 participants per Challenge topic will be selected.
Phase 3: Finals
During the finals, all sponsors and the top of the offshore wind industry will be invited to see the presentations. The innovators will have the opportunity to present their ideas in a 10 minutes presentation for the public and a jury during the Finals. At the end of the event, the jury will select one winner.
There can be multiple challenges, but only one overall winner is selected by the jury. However, other innovators and sponsors that are satisfied with the ‘losing’ innovations are encouraged to exchange contacts, start cooperation and further development of the innovation product.