itselectric Wins Top $100,000 Prize in the 2023 QBE AcceliCITY Resilience Challenge

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Nov 02, 2023, 16:21 ET

Winner selected from more than 650 entrants from 80 countries

NEW YORK, Nov. 2, 2023 /PRNewswire/ -- The 2023 QBE AcceliCITY Resilience Challenge, hosted by Leading Cities in partnership with QBE Insurance Group, concluded today with the City Solution of the Year awarded to itselectric, a groundbreaking company that is addressing the critical challenges of electric vehicle (EV) adoption by focusing on expanding and enhancing EV infrastructure through partnerships with private building owners.

"Congratulations to itselectric for their pioneering work in creating innovative solutions to accelerate the development of EV infrastructure, making electric mobility more accessible and practical for urban communities," said QBE North America CEO Julie Wood. "At QBE, we are committed to helping promote resilience and sustainability in communities, and this year's Resilience Challenge winner itselectric has developed a solution with the potential to transform our cities."

The $100,000 award was presented following a one-week intensive boot camp and panel evaluation from representatives of the World Economic Forum, African American Mayors Association, Prince William's Earthshot Prize, a co-founder of Code for America, and the Leading Cities board of directors. In addition to the cash prize, itselectric also will be featured in an upcoming AcceliGOV program, where cities from around the world compete to win a pre-paid pilot program of this EV charging solution.

Mike Lake, President and CEO of Leading Cities, emphasized the urgency of addressing the challenges of EV infrastructure: "The future of our planet relies on us taking significant steps to combat climate change. Insufficient EV infrastructure presents a major hurdle in achieving our environmental goals. Recognizing this challenge is pivotal in preserving our planet for future generations."

itselectric was selected as the City Solution of the Year from a pool of more than 650 entrepreneurs from 80 countries who competed in the QBE AcceliCITY challenge.

Nathan King, CEO and of-founder of itselectric said: "Start-ups like itselectric seek opportunities to partner with cities and work hard to build trust with stakeholder agencies. The AcceliCITY pilot grant will be an opportunity to advance a real-world curbside EV charging pilot, utilizing itselectric's unique revenue-sharing business model. Because of AcceliCITY funding, our partner city can be assured the pilot has the necessary resources, allowing both itselectric and the city to validate usage data and deployment cost in what is essentially a brand-new industry."

In addition to the top prize, two $25,000 People's Choice cash prizes were awarded: itselectric again for the People's Choice West award, and Syrinx was selected for People's Choice East.

The QBE AcceliCITY Resilience Challenge has quickly become one of the largest programs of its kind in the world and has demonstrated tremendous impact. AcceliCITY alumni have already raised more than $1 billion, with many having since deployed their solutions in cities to improve the equity, resilience and safety of our urban centers.

At its core, QBE AcceliCITY lowers the cost of innovation for local governments as well as startups and corporations by streamlining the innovation and implementation cycles for smart and resilient city solutions. The QBE AcceliCITY program connects startup's smart solutions directly with users and provides the proper channels and know-how to deploy in cities.

About QBE North America
QBE North America is a global insurance leader helping customers solve unique risks, so they can stay focused on their future. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in the first half of 2023 of $5 billion. QBE Insurance Group's results can be found at qbe.com. Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business primarily through its insurance company subsidiaries. The actual terms and conditions of any insurance coverage are subject to the language of the policies as issued. Additional information can be found at qbe.com/us or follow QBE North America on LinkedIn and Facebook.

About Leading Cities
Leading Cities connects cities across the globe with innovations and insight to drive resiliency, equity, and sustainability. This is achieved by cultivating a global network of forward thinkers from the public, private, academic, and non-profit sectors as well as delivering advanced research, emerging trends and vetting solutions that will address urban challenges. The AcceliCITY program aims to de-risk innovation for cities by sourcing and vetting solutions that will answer their most pressing challenges. Additional information can be found at www.LeadingCities.org or by following Leading Cities on Twitter, LinkedIn, and Facebook.

SOURCE QBE North America