Eqonic was chosen as one of 100 companies with significant growth potential and will receive the support of a dedicated team of highly experienced Innovate UK specialists to help scale its business. Only around 3 percent of the businesses that entered were successfully chosen to receive the support following a rigorous three-stage screening process.
Innovate UK is an innovation agency resource backed by the government. Its Scaleup programme is designed to support highly innovative, ambitious, high-growth companies already on their scaling journey. At the centre of the programme is a team of high calibre scaleup directors that operate together as a board and provide each of the companies on the programme with a matrix of skills and connectivity.
In August the National Housing Federation (NHF) released a report showing that the average household in England produces more carbon dioxide from their home than they do by driving. Eqonic’s smart energy storage systems (ESS) allow homes, offices and business premises to generate their own renewable energy (such as solar power) and store it using its market leading residential and commercial batteries.
“We are proud to have been accepted onto this esteemed programme and look forward to working closely with the team at Innovate UK Edge to enable further growth for us in the UK and abroad” said Jas Kandola, founder and chief executive of Eqonic Group. “Smart Energy Storage is the future of all domestic and commercial energy needs, allowing everyone to create and store their own carbon-free energy for use when needed with no need for gas, oil or coal.”
Maxine Adam, Head of Business Growth at Innovate UK, added that admission Scaleup programme is a rigorous and highly selective process and that to be eligible, selectors look for innovative, ambitious, high-growth oriented companies that are already on their scaling journey.
“Eqonic is a perfect candidate in this respect and we are looking forward to helping it scale up, drive growth, and realise its potential as a high-performing and world leading business” said Ms Adam.
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