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Innovation Challenges

SCOUTING BY UPWARD

Upward scouts for top technologies across the globe that directly address business challenges and areas of opportunities faced by U.S. Enterprise Partners.

THE CRITERIA

  • Maturity

    Companies with a working product and significant IP that are ready scale in partnership with large organizations.

  • Validation

    A product that has already been tested and validated in the market.

  • Investment

    Companies that received investments of at least $500,000.

    EXCEPTIONS MAY APPLY

  • Ambition

    Ambitious teams that are eager to learn, work hard, and expand fast within the U.S.

THE OFFER

CLIENT-FIRST APPROACH

Our approach to innovation begins with identifying business challenges faced by our Fortune-ranked Enterprise Partners. We introduce your startup’s technology to Partners in need of your specific solution. Upon expressed interest in your solution, the Upward journey begins.

NETWORK ACCESS

After the first successful partnership with an Enterprise Partner, Upward continues to foster new relationships between our Network Startups and a vast roster of Enterprise, University, and Community Partners across the U.S.

RELATIONSHIP FACILITATION

Upward fosters the relationship between startups and corporate clients, guiding the process from the initial meeting, to pilots, and beyond. Our experienced team leads post-pilot commercialization agreements, including: extended pilots, joint ventures, and co-development opportunities.

FUNDRAISING SUPPORT

We are committed to assisting Upward Network Startups with fundraising efforts through presentation/pitch support and warm introductions to Venture Partners in different cities across the national innovation network.

WORKSPACE + LIVING SPACE

When coming to a city to launch pilots and other corporate partnerships, startups are provided with inspiring workspace and living accommodations in a prime location for accessing localized pilot locations, clients, and co-development partners.

LOCAL TALENT ACQUISITION

We leverage our network of University and Community Partners to help startups identify and hire top local talent in all areas of expertise, including: business development, marketing, data science, engineering, and more.

THE FINE PRINT

After the scouting & vetting process, how do we move Upward?


Upon receiving our Enterprise Partner's written interest in your solution, Upward will charge your startup an up-front cost of $50,000, which can be paid in cash or as a convertible note*. This participation fee is applied to the following:

  • An invaluable opportunity to pilot and/or partner with an Upward Enterprise Partner that has selected your company's solution as a match for their business challenge.
  • Pilot support from Upward, including: participation in Partner meetings, use case design, installation, optimization, and pilot review.
  • Direct support in navigating commercialization discussions with Partners
  • 24/7 access to local co-working space
  • Living accommodations for up to 3 months

*Note: The convertible note option will carry 8% interest and 20% discount.




What happens after a successful pilot and/or Enterprise Partnership?


After a successful first corporate relationship, you will be invited to join the Upward Network, granting you access to our network of Enterprise and Venture Partners across the United States.




How does Upward benefit?


All deals finalized as a result of Upward are subject to a reseller fee of 30%, effective for 3 years from the start of commercialization (i.e. post-pilot). This reseller fee includes any and all subsequent deals with the same Enterprise Partner/client. If your startup invested the initial $50,000 participation fee in cash, this amount is reduced from the first round of resale paid to Upward.





THE CHALLENGES

 

PARTNER PROBLEM

Heating ventilation and air-conditioning (HVAC) systems maintain thermal comfort and air quality at offices, businesses, and homes. Due to the worldwide surge in consumption, energy conservation has become a critical issue. In the U.S. alone, HVAC systems account for over 30% of the electricity consumed by households. 

Image by Mitchell Luo

ENERGY EFFICIENCY

Challenge

SCOUTING SOLUTIONS

An Upward Enterprise Partner is looking for advanced technologies that minimize energy consumption and help the environment. Innovation in sensors and data collection, efficient cooling systems, energy storing, and harnessing different renewable energy sources could be a solution for energy efficiency in HVAC.