Greentown Labs and Schneider Electric Announce the Greentown Labs Bold Ideas Challenge

SOMERVILLE, Mass., May 16, 2018 /PRNewswire/ -- Greentown Labs, the largest cleantech startup incubator in the United States, and Schneider Electric, a global leader in the digital transformation of energy management and automation in homes, buildings, data centers, infrastructure and industries, are now accepting applications for the Greentown Labs Bold Ideas Challenge. Greentown Labs and Schneider Electric are seeking submissions from entrepreneurs and innovators with visions for how new products, technologies, and business models can transform the way humans use and manage energy.

The Greentown Labs Bold Ideas Challenge is a 6-month accelerator program housed at Greentown Labs in Somerville, MA, and focused on fast tracking entrepreneurs with the mentors, team members, business and technical resources they need to launch successful ventures with direct support from Schneider Electric.

"Greentown Labs is excited to launch our partnership with Schneider Electric and we're confident our co-created Bold Ideas Accelerator Program will yield novel partnership results for startups within the energy space," said Greentown Labs CEO Emily Reichert. "We aim for this iteration of our Greentown Launch accelerator to build on our strong history of external innovation programming with many of the industry's most innovative corporations."

"At Schneider-Electric we are committed to finding and supporting ideas that can revolutionize the energy and automation industries and the future of humankind. We are embracing both the ideas coming from visionary Schneider employees as well of those from entrepreneurs and other visionaries all over the world. We are happy to be working with Greentown Labs to make this a reality. Let the challenge begin," said Heriberto Diarte, Head of External Innovation and Corporate Ventures, Schneider Electric.

Specific areas of interest for the Greentown Labs Bold Ideas Challenge include, but are not limited to the following categories:

• Buildings & IT
• Home Automation
• Autonomous Buildings
• Data Center Monitoring & Cooling

• Industry
• Advanced Analytics
• Operational Technology & IT Convergence Innovation
• Industrial Cybersecurity

• Energy
• New Energy Landscape
• Grid Digitalization
• IoT Services

Selected applicants will be eligible for one or more of the following awards:

• Up to $25,000 in non-dilutive grant funding;
• Desk space at the Greentown Labs Global Center for Cleantech Innovation;
• Acceptance into Greentown Launch, a 6-month acceleration program for startups at Greentown Labs;
• Exclusive access to the Greentown Labs and Schneider Electric networks; and
• Partnership and/or investment from Schneider Electric by the end of the program.

Submissions will be evaluated based on the potential impact of their solution's ability to increase efficiency, automation, and user experience while supporting society's rapid transition to a distributed, digitized, and decarbonized energy economy. Applicants must disclose the status of any intellectual property relevant to their submission and selected applicants' IP will be fully protected throughout the review process.

Applications for the Greentown Labs Bold Ideas Challenge are due by July 20 at 11:59pm ET. Interested innovators and entrepreneurs can learn more about the call for applications by visiting the website. Greentown Labs Bold Ideas Challenge applicants are encouraged to attend the program kickoff event at Greentown Labs on July 26; visit www.greentownlabs.com to learn more and register for the event.

The launch of the Greentown Labs Bold Ideas Challenge also officially begins Schneider Electric's Terawatt-level Sponsorship of Greentown Labs which is the highest, most-involved level of engagement and support of the incubator.

About Greentown Labs 
Greentown Labs is a community of bold, passionate entrepreneurs creating world-changing energy technologies that transform the way we live, work, and play. Located in Somerville, Mass., and founded in 2011, the Greentown Labs Global Center for Cleantech Innovation is the largest cleantech incubator in the United States, operating a 100,000 sq. ft. campus that empowers entrepreneurs to solve today's biggest energy and environmental problems. Its mission is to enable a vibrant community of startups to realize their visions by providing access to the resources, labs, and funding they need to thrive. For more information, please visit www.greentownlabs.com or find us on Twitter, Facebook, or LinkedIn.

About Schneider Electric
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider Electric is the indisputable leader in Power Management ? Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.

Greentown Labs Media Contact:
Julia Travaglini
[email protected] 
888-954-6836 ext. 1

SOURCE Greentown Labs