Companies from around the globe were invited to participate at the inaugural ABB Electrification Virtual Startup Challenge which has provided three winning companies with a boost to their startup journey.   

The ABB Electrification Virtual Startup Challenge is a series of dedicated startup events intended to accelerate the expansion of ABB’s digital offering and create added value solutions by leveraging disruptive technologies to improve operational efficiency, automation and energy management for customers.

Fourteen companies from Europe, USA, Canada, Israel and India participated in the challenge.

Leading startups, Mavenoid a computer software company from Sweden, which looks at technical support automation;  Fsight from Israel, which looks at solutions to optimize the grid from the bottom up; and Viking Analytics which empowers experts in asset-heavy companies with analytics, were selected as the winners. All showcased three AI and data-driven solutions to a judging panel of experts from ABB Electrification, Microsoft and SynerLeap, ABB’s global innovation growth hub.   

The three winning startups will each receive $30,000 investment to work in close collaboration with ABB Electrification R&D teams across the Smart Buildings, Smart Power and Distribution Solutions divisions. The ambition is to support the awarded companies to convert their prototypes into viable products within six months.

“To deliver progress we must all work together and find new ways to trailblaze and balance the current and future needs of society, the environment and the economy,” said Anton Kotov Chief Strategy Officer and Chief Digital Officer, Electrification Business Area.

“As a global leader with over 130 years in industry we have a responsibility to make the journey of innovation possible. We can introduce startups to the right people and open doors for them through our network. We can get people talking to one another, and drive progress for our customers.”

Under the Virtual Startup Challenge 2020, the shortlisted startups were invited to compete in a ten-day challenge. They were given a brief to focus on using digital technologies to meet future needs of society through the creation of safer, smarter and more sustainable solutions.   

The winning solutions will be further developed through collaboration with ABB Electrification divisions providing expertise and best practices with support from SynerLeap. Should the winning solutions offer value to ABB customers, then the startups will also have the opportunity to take their product to market via ABB Ability MarketplaceTM.

Peter Löfgren, head of SynerLeap, explains: “This year’s competition has welcomed a host of talented startups from around the world with a passion for enabling change. The ideas we have seen will truly make a difference and impact lives, society and industry to deliver safe and sustainable progress.” 

Mavenoid, which was founded in 2017, delivered an AI-based solution for frictionless customer support and seamless troubleshooting in the smart building of the future. It aims to empower customers with intuitive remote support and collaboration to create a self-service community and encourage repair over replace.  

Isreali-based startup, Fsight, was chosen by the judging panel for its unique Microsoft Azure-based platform and using AI to forecast energy consumption and production in one single solution. Unlike any other seen on the market to date, it integrates a wide range of data sources, including renewables, and offers a complete set of solutions under the energy management umbrella. The company also received an additional award for a six-month membership to SynerLeap.

Viking Analytics took digitalization into the heart of its solution to identify faults at component level and atypical events in the grid. The judges were impressed by the company’s analytical approach to recognize operational failures, their hard-work and dedication to demonstrate what they can do best to improve energy management and efficiency.

“Our work with startups truly inspires our organization. We are committed to shaping future trends in electrification by imagining the solutions that transform new ideas into real value for communities around the world” concludes Kotov.