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Creating value from data: how can a utility do that?
Published on Thursday, December 14 2017
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Challenge Expiration Date: April 1, 2018
AbstractNew fuel for energy: Data! Looking for new strategies and ways Enel, on its path to become a Data Driven company, can exploit the huge amount of data it collects from customers, power plants, infrastructures, etc...
DescriptionData to this century are what oil was to the last one: a driver of growth and evolution. Flows of data have created new infrastructures, new services, new businesses, and new economics. Digital information is unlike any previous resource; it is extracted, refined, valued, bought and sold in different ways. It changes the rules for markets and it demands new approaches from regulators. In whatever industry, data are always getting more significant. Many companies will generate a tremendous volume of raw data that could be useful (manageable and sellable) by another company for another industry. Nowadays data are a certainty and they have a huge value both strategic and economic.
How can the open innovation approach help a company that wants to become a data driven organization generate new value from the huge amount of data it continuously collects?
If you think you have an interesting proposal that could enable the data’s value exploitation for Enel as a utility, the time to propose it is now.
The best proposals will have the possibility to be tested on sets of real data the company will make available for the proof of concept.
Background: Enel is a multinational energy company (30+ countries across 5 continents) and one of the world’s leading integrated electricity and gas operators, ready to lead the “energy transition”, based on renewables and grid digitization. Enel “Open Power” vision means: opening energy access to more people; opening the world of energy to new technologies; opening energy management to people; opening energy to new uses; and opening to more partnerships”. This represents Enel’s identity: a modern, open, flexible and responsive utility company.
Technologically, the company is already investing heavily in solar PV, hydro, geothermal, and other renewable sources, as well as digitizing the grid. However, to achieve its vision, the company will need to apply open innovation, specifically with regards to:
a) new relations with consumers, who might generate electricity and sell back to the grid
b) new partnerships with NGOs, who monitor sustainability issues
c) social entrepreneurs, to bring renewable energy to the developing world
d) startups, innovative companies and research centers.
Challenge rulesExplain your proposal clearly, attach documents if needed and support the idea focusing on the following key drivers:
- Presentation of the proposal
- Business potential for Enel
- Technical feasibility
- Costs/benefits analysis
- Innovation level
- Applicant credibility
The proposals will be admitted until April 1, 2018 and the evaluation will start after this date.
In the Annex “Enel S.p.A. Innovation Competition Regulations” you can find the complete Regulation of the Challenge, that you will accept once you submit your solution to this challenge.
For technical support you can contact OpenInnovabilityfirstname.lastname@example.org
What happens next?
The selected proposals will be rewarded with the possibility to sign a collaboration and testing agreement with Enel and/or the relevant company of the Enel Group.
In particular, Enel will provide the winner with:
- the technical support to test the solution proposed, granting access to infrastructures and high-tech locations;
- the chance to being connected to international stakeholders, thanks to the global network of physical Enel Innovation Hubs around the world (eg. Italy, Tel Aviv, Madrid, San Francisco, etc..).
Enel will bear the costs of the testing activities: for each project the necessary amount and the modalities will be evaluated together with the applicant.
If the test/PoC will be successful, Enel, directly or indirectly through a company of the Enel Group, might offer a concrete opportunity to scale-up the solution by adopting it through commercial agreements.
If the winning Proposal is submitted by an employee of a company of the Enel Group, the winner Applicant will be awarded with the possibility to be involved during the internal POC set-up activities.