Business Government offers cash prize for demand-side management innovation

Business Government offers cash prize for demand-side management innovation

2013/08/09

The Dynamic Demand Challenge Prize is £50,000 waiting for a person or organisation that can improve demand-side management on the electricity grid.

In particular, the judges are looking for: “new or improved products, technologies or services; a demonstrable shift in demand to off-peak times and/or towards renewable energy generation; and potential for scale and with market potential,” said the UK’s National Physical Laboratory (NPL).

NPL is one of the supporting bodies, alongside European public-private partnership Climate-KIC, and the National Grid. The whole thing is being run by Government innovation funding body Nesta, through its Centre for Challenge Prizes.

The challenge is open to entries from the EU, but the solution must be applied within a UK context.

Entry deadline is 9 September 2013 and application is through dynamicdemand.nesta.org.uk

Before final judgement, short-listed entrants will get free help test their ideas at NPL’s Centre for Carbon Measurement, as well as assistance from Imperial College’s design engineering group and its business school.

“It will allow applicants with ideas to develop them into close-to-market products,” claimed NPL.

Help for the short-list is being paid for by a £125,000 grant from Climate-KIC, through the Climate Market Accelerator programme.

Following this, the entries and their business plans will be assessed by the judging panel and the main £50,000 prize “will be awarded to the solution that demonstrates the most significant impact,” said NPL.

“The £50,000 prize will deliver a significant boost to the prospects of the winning idea. However, thanks to the support from Imperial and NPL, most of the finalists should have developed their ideas to the point that it is attractive option for buyers or investors,” said Constance Agyeman, development manager at Nesta’s Centre for Challenge Prizes.

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