The 'Wow Competition,' an annual feature of the high tech conference, was overseen by Avi Hasson, the Chief Scientist of Israel's Ministry of Economy.
A total of sixty startups competed for the highly sought-after innovation award, with three companies -- Eco Wave Power, SQream and VocalZoom -- ultimately being chosen for recognition.
"The Office of the Chief Scientist invests significantly in startup companies," Hasson said. "We believe that a massive investment in early stage entrepreneurship is the key to future success. The Mixiii 2014 event is a unique platform for the innovative Israeli technologies".
During the competition, each of the companies went through a professional screening process by the office of the chief scientist and showcased their technologies in a special start up pavilion that was located in the center of the exhibition.
Personal interviews were then held with representatives of each company before the field was winnowed to 20 who got to present their innovation on stage as part of the official conference's agenda.
On the last day of the conference, three companies were chosen as the winners according to various criteria such as need, level of innovation/uniqueness, business model and go to market strategy.
Eco Wave Power was recognized for its unique wave energy generation technology, innovation that has brought the company several awards in the past. In 2012, for instance, Eco Wave Power won the Frost and Sullivan Product Innovation Award, and earlier this year the company was announced as the winner of the International Energy Globe Awards.
David Stark, a principle at "OURCROWD" investment platform and one of the judges in the competition praised Eco Wave Power for its significant progress, saying, "The judges were really taken with the world-changing potential of Eco Wave Power. The company has introduced a number of innovations to the technical design of its solution, aiming to avoid the known pain points of other wave energy products on the market. This appears to be the reason the company has garnered such market interest in a relatively short period of time. If the company can execute on its vision of delivering economically competitive energy to the grid it will be a true game-changer."
Eco Wave Power was established in 2011 and became a significant player in the wave energy industry. In a relatively short period of time, the company was able to construct a demo plant in Jaffa Port and to secure a 79MW of projects pipe-line.
For the execution of its pipe-line, the company initiated its first fund-raising round for a sum of $10 Million.
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