With the slogan - Join the grid - energize the world – Siemens asked for contributions of ideas and market insights in competition but also in cooperation with a large community of Smart Grid experts around the globe.
The aim of the contest is to speed up innovation by finding new business models that change the game, provide applications for new customer benefits and develop disruptive technologies to enable a smarter world.
EIT ICT Labs Christian Huder won the second prize for his insights in comparing regulatory approaches and their implications on business models concerning smart grids. The jury stated that: "The regulatory issues are of great relevance for the future of the smart grids. This information could generate real business value for enterprises operating in this field."
Siemens has a 1M euro budget for translating the best ideas into innovation by collaboration with universities. They also aim to translate the resulting mature innovations into products, services and solutions and are therefore planning additional large investments.
In 2005 the European Union adopted the "Smart Grid" concept - a vision of intelligent, flexibly controllable electrical generation, distribution and consumption. The breakthrough of Smart Grid applications strongly depends on attractive business models which combine the technologies and economic benefits for all stakeholders.