INESC TEC spin-off nominated for the European Business Awards

Smartwatt, a company founded in 2007 as part of INESC TEC’s spin-off incubation programme, promoted by the Centre for Innovation, Technology and Entrepreneurship (CITE), has been selected to integrate the group of 25 National Champions, as part of the European Business Awards competition. This competition is organised by the RSM network of independent authors and supported by the UK Trade & Investment.

Smartwatt, presided by Cláudio Monteiro, professor at FEUP, provides energy services to public and private companies working in Energy Efficiency, Renewable Energies, and developing smart software for energy. In 2011, INESC TEC and Caixa Geral de Depósitos, which supported the individual promoters in the incubation process, sold their shares to the Bongás group.

With innovative products internationally, Smartwatt’s areas of expertise cover three interconnected components: renewable technology, including consulting, economic viability studies and installation of monitoring systems, providing a turnkey service; engineering solutions, such as auditing, energy efficiency projects, energy management and monitoring systems for industry and buildings; and forecasting systems that allow the clients to monitor their energy system.

The original promoters, which included INESC TEC researchers, have been supported in the company’s pre-incubation stage. Until 2008, the company stayed at INESC TEC’s facilities. After that, they moved to their own facilities in Porto.

Photo credits: http://www.smartwatt.pt/