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Grid Edge: Artificial Intelligence for Energy Systems

Grid Edge: Artificial Intelligence for Energy Systems

Grid Edge is a spin out company from Aston University. Its Artificial Intelligence software develops intelligent insight and control strategies to help public and commercial building owners understand and reduce their energy consumption and in turn save money and reduce their carbon footprint. The on-site hardware bolts on to existing systems to quickly produce benefits and savings.

Grid Edge: Artificial Intelligence for Energy Systems

FACT FILE

Start date: 2016

Website: Visit website

Location: Birmingham

Employees: 7.5 FTE

SETsquared programme: Innovation to Commercial Realisation (ICURe)

SETsquared support received: ICURe grant, events, market research, networking

Investment raised: Innovate UK Grant £500k; Private funding £310k

KEY MILESTONES

June 2016

Started on ICURe programme

December 2016

Limited company

March 2017

Closed £150k SEIS investment round

June 2017

Closed £200k investment round from Ignite

“I was a researcher at Aston University when I first heard about SETsquared and the ICURe Programme and was initially sceptical. I was worried there wouldn’t be the same level of commercial focus as some of the commercially backed incubators I was familiar with. I am happy to say that I was proven wrong from the outset.”

“As a research fellow within the university I found it difficult to find the support and time to move away from the technical concepts of the work to the wider market applicability. With ICURe you are immediately thrown into an environment where you are looking at real world and commercial impact. Looking at how your idea will make money and create value for customers.”

“During the programme I met with potential customers and other energy companies in the Silicon Valley in the States and also Europe. It was vital to understand how we fitted in the global energy market. Not only would this have not been possible without ICURe’s support, but it has continued to pay dividends as it’s the first question asked by every investor”

“We were introduced to the Business Model Canvas as a method of measuring where you are as a business. This was an invaluable technique and enabled us to confront holes in the business plan. We pitched at the Options Roundabout and were advised and encouraged to go forward and set-up a business.”

“Since the Programme we have gone on to secure investment through introductions from SETsquared and I can honestly say we wouldn’t be where we are today without ICURe, it really has fast-tracked our success. We have just won ‘Best Start-Up’ at the Birmingham Tech Awards the and future looks extremely promising.”

Daniel Wright

Daniel Wright, CTO
Grid Edge

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