The Best Sustainable Energy Startup in Lithuania Is Selected
„WellParko“ was selected as the best startup of energy and cleantech-related competition “PowerUp!”, which is organised by “InnoEnergy” together with their partners – “Vilnius Tech Park”. Team winner is creating artificial intelligence algorithms that allow to get real-time information about available parking slots, thus helping to reduce the amount of traffic jams and CO2 emissions.
A solution proposed by „WellParko“ also lets to generate big data analytics, compare the data received from parking lots and provide information and locations of cars that haven’t paid for parking. The winners of the Lithuanian final next month will compete with the winners of the other countries for the title of the best cleantech idea and a main prize up to €30,000.
Almost 300 startups from 24 countries in Central Europe participated in „PowerUp!“ competition. 7 startups in Lithuania decided to challenge themselves in Lithuanian final. On weekend before the final, participants had the opportunity to verify their business models and improve their presentation skills together with partners from brand strategy and innovation studio “Hungry Scout” Justina Jautžemis and Goda Barbora Gutautaitė as well as „Vilnius Tech Park“ community manager Gediminas Dilertas. After the trainings startups introduced their ideas to the jury, investors and media representatives.
The co-founder of the Lithuanian winner – “WellParko” – Gustas Germanavičius didn’t hide his emotions: “We are proud to be recognized in Lithuania. I would like to thank our investors, team and strategic advisor – Dierk Grunzig. Going to the PowerUp! Final in Prague is important to us for two reasons. We want to test our strength at the European competition and Prague is a strategically important point – we have partners and potential clients there.”
„The mission of the competition is to find the best solutions that would contribute to innovation in energy, improve the air quality in European cities and increase the cleanliness of the environment. An idea suggested by „WellParko“ meets a need that we see in the energy market and can also be applied globally. These reasons have determined their success“, – says chairman of the jury Jakub Miler, the CEO of EIT InnoEnergy Central Europe.
”The energy sector in Lithuania and in the region is dynamic and rapidly changing. Innovations and technological advancement are key to a successful, sustainable and changing energy sector. Lithuanian companies offer innovative and competitive solutions to the international market. We are glad to see the increasingly active involvement of universities, technology parks and state institutions in the process of efficient technology transfer and commercialization”, – says Kęstutis Morkūnas, head of “InnoEnergy“ HUB in Lithuania.
Participants were evaluated taking into account both the content of their proposed idea, business model, team and the potential of the product. The jury consisted of Jakub Miler (CEO at “InnoEnergy Central Europe”), Rokas Pečiulaitis (Managing partner at “Contrarian Ventures”), Rytis Kėvelaitis (Adviser to the Minister of Energy) and Albinas Zakarauskas (Manager of Innovations at “Auga Group“).
On 19th of June the Lithuanian winners – „WellParko“ – will face the winners of the other countries in Europe at the Žofín Palace in Prague, where they will compete for financial prizes (€30,000 EUR for first place) as well as participation in the prestigious Highway® accelerator, which helps transform startups at an early development stage into successful businesses.