During the Annual Meeting of CIONET Spain, that will be celebrated on October 30th, we will organize our particular Shark Tank. Several experts with long experience in the Open Innovation field will listen, analyze and evaluate the presentation of several startups.
One of these startups that will be in the spotlight is Watty, the cutting edge artificial intelligence technology that makes your energy at home smart.
Before meeting them at the event, we advance you some information about this startup:
- What does Watty? Watty makes tools to help people understand what’s happening at home in real-time, powered by Artifical Intelligence. We break down a households energy consumption to the appliance level in real time using a single hardware sensor.
- What is your stage of maturity? We just released a mass-market version of the product, installed among hundreds of community users and running pilot projects with several major energy companies in Europe.
- How can you help companies to generate business opportunities? There is a war going on in capturing the values of making the home smarter and more digital. Industries like big tech, telco, energy, insurance and more see the strategic relevance to their core business and are going head to head in the way they have never done before. Watty’s energy data analytics product is a great energy level smart home product that makes most of the ”stupid” appliances smart with a single hardware sensor. This is an opportunity to create new revenue streams, more loyal customers as well as a new type of cross and up-selling channel that creates new dimensions to pinpointing the right customers at the right time.
- What new functionalities do you bring to your clients? We give energy companies, telcos, insurance companies and real estate managers a new tool and digital interface to interact with their customers that have a strong relevance to the core product, but also give added value to the end users in form of energy insights and a smarter home in several dimensions.
- How does your client’s differentiation improve against your competitors? Watty focuses on helping normal everyday people, understand their energy behavior and empower them to make smarter decisions. We use state of the art machine learning technology to analyze a household’s energy and we have built the analytics platform on a unique dataset with ground truth data from 500 real households.
- How much time and money for internal developments do you save to companies? For a company to themselves build an energy monitoring product with the same level of sophistication as Watty would require at least €3M investment in data collection, R&D and product development.
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