Schneider Electric boosts its innovation ecosystem with 'Schneider Electric Ventures' to identify, nurture and support bold ideas

- 'Schneider Electric Ventures' nurtures tomorrow's transformational and disruptive innovations with funding, incubation and partnerships

- 'Schneider Electric Ventures' proves Schneider Electric's commitment to innovation. Major projects are already underway

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Schneider Electric

Nov 13, 2018, 12:41 ET

BOSTON, Nov. 13, 2018 /PRNewswire/ -- Schneider Electric, the leader in the digital transformation of energy management and automation, has announced "Schneider Electric Ventures", which identifies, nurtures and supports innovations that will make a major contribution to future sustainability and energy efficiency. Several major projects are underway and ready to be deployed.

Innovation is key to achieving sustainable growth

Innovation is the essential precursor to sustainable growth. Beyond the imperative of finding solutions that will protect our natural environment, companies need to satisfy non-stop growth in global energy demand, adapt equipment for a hyper-connected industrial ecosystem, and comply with ever-stricter regulation.

'Schneider Electric Ventures' nurtures tomorrow's transformational and disruptive technologies

Schneider Electric already prioritizes innovation at every level. The company spends €1 billion a year on R&D; and EcoStruxure™, its IoT-enabled, plug and play, open, interoperable, architecture and platform is at the cutting edge of connected energy management and industrial automation.

A few months ago, the company created "Schneider Electric Ventures". The mission of this initiative is to identify, support and nurture companies and entrepreneurs whose innovations will transform the way we live and work, how we produce and consume energy, and how we run buildings and factories.

Schneider Electric Ventures supports innovation through:

Funding
Incubation
Partnerships

At its Innovation Summit North America, bringing together 1,200+ of the brightest entrepreneurs, executives, and industry leaders from across North America on November 13-14, 2018, at Hilton Atlanta Downtown, Schneider Electric announced some major projects developed by "Schneider Electric Ventures". These projects include:

eIQ Mobility, a start-up and spinoff from Schneider Electric Incubator, which enables and accelerates electric mobility at scale by providing "Electric Fleet as a Service " to large commercial fleets.
Clipsal Solar, a business venture for on-grid and off-grid solutions for residential and commercial applications in Australia, where 1.8 million homeowners have installed solar panels to help manage their energy bills. The market is forecasted to grow with additional 134,000 homes by 2021.
Greentown Labs Bold Ideas Challenge in partnership with Greentown Labs, focused on fast-tracking entrepreneurs with the mentors, team members, grants of $25,000, and business and technical resources they need to launch successful ventures.

Through its different investment vehicles, Schneider Electric also made equity investments in six companies:

Sense, the leader in load disaggregation technology
Element Analytics, a leader in industrial big data analytics
Habiteo, a 3D specialist for new residential housing
QMerit, the "Uber" for contractors & MRO spend
KGS, a predictive engine for just-in-time maintenance
Claroty, the leading Cybersecurity company for industrial OT networks

"Schneider Electric Ventures is our way of helping innovators turn their vision into reality and make a real difference to the way we live and work," said Schneider Electric Chairman and CEO Jean-Pascal Tricoire, at the Innovation Summit North America. "Schneider Electric Ventures demonstrates our commitment to innovation, helping innovators and entrepreneurs who share our values develop their ideas and gain access to global markets."

Opportunities for innovators

Schneider Electric has committed to invest between 300 and 500 million euros in the coming years, in incubation projects, partnerships with entrepreneurs, and specialized funds, and welcomes ideas from innovators and entrepreneurs eager to turn their ideas into reality

"The investments we've made and the companies we've incubated so far are central to Schneider Electric's vision for the future," said Heriberto Diarte, Schneider Electric's Head of Open Innovation and Ventures. "These innovative technologies and services we are investing in will make a huge contribution to creating a world that is more connected, greener, efficient and sustainable."

For more information visit schneider-electric.com/ventures

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 is the undisputable 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. www.schneider-electric.com

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SOURCE Schneider Electric