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Business Model Readiness of Start-up Driven Energy Innovations – an Empirical Review

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review


Original languageEnglish
Title of host publication2019 16th International Conference on the European Energy Market (EEM)
Number of pages6
ISBN (Electronic)978-1-7281-1257-2
ISBN (Print)978-1-7281-1258-9
Publication statusPublished - Sep 2019
Publication typeA4 Article in a conference publication
EventInternational Conference on the European Energy Market -
Duration: 1 Jan 1900 → …

Publication series

NameInternational Conference on the European Energy Market
ISSN (Print)2165-4077
ISSN (Electronic)2165-4093


ConferenceInternational Conference on the European Energy Market
Period1/01/00 → …


When will the start-ups enter the play field of energy innovations in mass? The energy sector has traditionally been a challenging industry to new entrants, especially for smaller firms. Digitalization, decentralization and new renewable energy technologies are enabling also smaller actors to create energy-related innovations. This research focuses on understanding the level of business model readiness of start-ups when commercializing energy innovations. We interviewed start-up companies and provide an analysis of the state of their business models mapped with key challenges that these firms face. Our results show that while most start-ups have a promising value proposition they struggle with other value creation and value capture aspects. Especially building the sales channel that often requires co-operation with energy industry incumbents and finding the right revenue model causes problems to the startups. The challenges the start-ups face also depend on their focus; technology-based start-ups appear to have more obstacles than data-driven start-ups due to longer time needed to mature the products for commercial deployment.


  • Technological innovation, Companies, Renewable energy sources, Commercialization, Buildings, Energy, Innovation management, Entrepreneurship, Business model

Publication forum classification

Field of science, Statistics Finland