As part of the SET Award 2019, the top 100-ranked start-ups who applied for the SET Award were rewarded the opportunity to participate and showcase as part of the Innovation Hub at the 24th World Energy Congress (WEC24) 2019 in Abu Dhabi. Sponsored by the Dubai Electricity and Water Authority, this incredible opportunity includes travel and accommodation expenses, and a showcase space for the SET100 at the congress.
In the lead up to WEC24, we asked the participating SET100 start-ups to answer a few questions to provide potential partners the opportunity to learn more about them and to also help other start-ups learn from their experiences. We thank them for their work toward the global energy transition and for sharing with us the following insights.
#SET100 Start-up: Soraytec Scandinavia AS (Norway)
Established in 2015, Soraytec Scandinavia AS is a technology company focused on delivering a novel digital smart metering and intelligent fault detection solution to the power distribution and generation sector. Soraytec has begun the process of securing its Intellectual Property (IP) with a patent and is currently preparing for certification and commercial exploitation of its innovation.
Traveling, pitching, partaking in meetings, and networking requires considerable time and effort. Other than perhaps being given a blank check, what is the best case scenario or result you as a start-up hope to get out of participating in initiatives such as the SET platform and the Innovation Hub at the 24th World Energy Congress in Abu Dhabi?
To meet relevant decision makers from participating countries who understand the concept of flexibility in the power distribution sector and the challenges for utility companies related to DERPs and DRE. Also to meet with decision makers of utility companies, preferably DSOs of participating nations/countries.
Given the stage of your start-up and your particular focus/sector/technology, what is one challenge that you have overcome or lesson that you have learned that may be valuable to other similar start-ups?
When it comes to certification and approvals, it is always best to go directly to the relevant national body together with the potential partners. In most cases for innovative product rules and regulations need to be drafted.
What is one of the main obstacles or regulations that you have had to overcome prior to, or in preparation of market entry into your given business environment?
Product certification and credibility in the power distribution sector worldwide.
Is there some recent news or something else you would like to share?
We were 1 of 10 EIT Climate-KIC Nordic Accelerator Intakes in March. See more here.
Thanks for reading and thanks again to Soraytec Scandnavia AS. More information about them can be found here: http://www.soraytec.com/
More about the SET100, including a full list of each SET100 start-up can be found here.