The SET Award 2021 Applications in Numbers
March 30, 2021
The SET Award 2021 applications have been reviewed and the 2021 SET100 list with the top 100 energy start-ups published. Be sure to check out this year’s 15 finalists, who were announced during the Berlin Energy Transition Dialogue 2021.
Review of Applications with Early Metrics
In order to produce the SET100 list, we compared, analysed, weighted and combined the scores from Early Metrics’ SET-specific start-up model and the scores provided by our high-level jury.
This year’s application phase was once again competitive, with 543 start-ups applying from all around the world within just three months. Who applied to the award? Where do the start-ups come from and what are their backgrounds? We will now have a closer look at some core statistics from the applications.
SET Award 2021 Applications
Almost one third of the contending start-ups submitted their application for the “Clean Energy Generation” category, while the remaining four categories were distributed fairly evenly.
At SET our aim is to create a vibrant global platform, which is why we are proud to have received applications from 89 countries. We received most applications from start-ups based in Germany followed by the United States and India as well as Switzerland and the Netherlands.
A look at the distribution by region reveals that half of the applicants are based in Europe followed by North America (14%), Africa (12%) and Asia (10%). South America (6%), the Middle East (4%), Oceania (3%) and Central America & the Caribbean (1%) round out the rest of the applications.
What is the right time and the optimal technical maturity stage to apply for the SET Award? We accept applications if the start-up can provide at least a proof of concept or prototype. 23% of this year’s applicants fall in this category. 24% already have a minimum viable product and 36% have a stable and deployed product or service. Start-ups with even more advanced products make up the remaining 17%.
Additional information reveals even more interesting insights into the SET applicants. 85% of the start-ups indicate that they are currently looking for further funding opportunities. Part of the SET Award’s mission is to connect start-ups with investors and accelerators in order to establish new relationships. Furthermore, 43% of the start-ups indicate that their core product or service is very complex. That is unsurprising given the complexity of issues within the energy and mobility sector.
Moreover, a total of 83% of all applicants indicate that their product or service has been tested with real users. Testing a business idea with real users often reveals whether the product works as intended and is a crucial step in attracting investors. The fact that among all applicants 66% already have a structured Board of Directors or an Advisory Board is also a fantastic indication of the stage of the start-up’s development. Furthermore, more than two thirds of all applicants (67%) employ zero to ten people.
What is next?
In a nutshell, the SET Award 2021 applications are hundreds of viable solutions to approach the urgently needed energy transition for our globe. What a pleasure to see people from all over the world working towards a sustainable future that is able to meet the needs of intergenerational and intragenerational equity.
Make sure to check out this year’s SET100 as well as the previous ones in our database. We will announce the winners of the #SET21 Awards at the SET Tech Festival on September 1st, 2021.