Startupbootcamp’s Virtual Demo Day

Not to be defeated by the Victorian government’s Stage 3 Covid19 restrictions, Startupbootcamp decided to stream the latest Energy Australia Demo Day online. It was a bold move given that a key value of these events is the opportunity to see and meet the startup founders in person. But to the organizers’ credit, and with support from their corporate sponsors and mentors, as well as the founders themselves, it was an impressive event, and managed to connect the teams with their audience effectively.

The nine projects in the order they presented (website links embedded in the names) were:

17TeraWatts

Focused on “meeting the demands of the new solar customer”, 17TeraWatts monitors residential solar energy systems via a combination of data automation and behavioral science. It achieves this via “Bodhi 2.0”, a digital assistant for modern energy companies, designed to be the “heart and brains of home energy systems”. Once installed, it is forecast to to generate a recurring revenue stream for the 25-year life of a solar system, by delivering reporting and customer leads. At the other end, solar consumers are willing to pay for more information about, awareness of and control over their energy systems ans consumption. Currently exploring a partnership with DiUS, Bodhi 2 is also being deployed by a Victorian electricity retailer.

Renbloc

Another team addressing energy efficiency management, Renbloc provide a solution to help consumers by bringing transparency to the verification of renewable energy sources. For a monthly fee, it brings real-time monitoring and optimization to consumer energy consumption. Renbloc are also working with companies such as Asahi and Energy Australia to provide verification “certification”, a form of energy labelling that can be applied to a wide range of consumer products.

Machine Dreams

The founders at Machine Dream are deploying machine learning and data analytics to monitor equipment failure, by detecting defective power assets owned and managed by energy distribution networks. Using system-generated photos to train the algorithm, Machine Dream claim significant reduction in the time and cost it traditionally takes to monitor network equipment, and with higher accuracy rates. The overall effect is to enable the frequency of assessment, and the reduce the cost of assessment. Currently in trials with Ausnet to monitor the “poles and wires”, Machine Dream can also be used for other infrastructure assets such as bridges, railway tracks and roads. The team plan to offer licensing and SaaS business models to asset managers and manufacturers.

GenGame

This is a customer engagement platform, delivering consumer apps for energy retailers to help their customers track retail energy bills (optimization, rewards, incentives, etc.) using customized profiles. The founders claim that customer relationships become stickier, via the low cost/low touch engagement. The team comprises a mix of creatives, energy industry experts and software developers to license client solutions which are priced on the set-up costs and the number of end users. Apparently, only 10 out of 40 energy retailers in Australia have a mobile app, and GenGame has two pilot projects with Energy Australia.

Energy Master

Another solution for energy efficiency, Energy Master is focused on helping corporate clients manage their utility bills. Essentially a business information platform, the application reviews consumption, taxes and fees, tariffs and off-sets, carbon reduction and water savings. It charges 0.5% of managed energy costs as a recurring fee, and does not require any hardware investment by clients. Currently running clients trials with Energy Australia.

ELDO MeterStack

This team is also addressing energy data analysis, but at the level of the grid, particularly at the fringe end of the distribution network. Their thesis is that consumers are not engaged, and don’t know how to understand their utility data or how to value it; meanwhile, energy companies cannot access consumer data. Positioned as a data market place between consumers and energy service providers, it offers a turnkey solution for the new breed of “digital utility” companies, and is working with DiUS and MHC to support distributors and the fringe of the grid.

Energos

Describing its solution as “intelligent nodes for distributed energy systems”, Energos is using AI for energy monitoring, management and optimization. Focused on business and industrial clients, the system can operate across multiple sites and in multiple countries, ideal for multinational corporations. Adopting a monthly subscription fee model, Energos is working with Energy Australia on a pilot solution for a business client.

BEAD

Using a combination of sensors and software, the team at BEAD are delivering intelligence solutions to help building owners, managers and occupants to manage “over heating, over cooling, over lighting”. With tag lines such as “listening to your building”, and “intelligent buildings you deserve”, BEAD is aimed at telcos, smart cities and BMS & HVAC vendors. Their system analyses occupancy flow, and develops digital models of buildings to track body heat (an important consideration in the Covid19 era, as well as events such as building fires, floods and earthquakes). They also work with building insurers to deliver real-time monitoring via Blockchain and smart contracts. Claiming to deliver 30% savings in energy optimization and efficiency, BEAD is working with Energy Australia, Hydro Tasmania and Asahi.

Liquidstar

This startup deploys Blockchain enabled apps to monitor their partners’ IoT connected hardware (batteries and container charging stations). Liquidstar is an IoT solution designed to build a “wire-less grid”, with the aim of removing diesel and methane power from communities that do not have access to grid networks. One potential use case could be in battery management for Covid19 quarantine centres.

Next week: Can we come out now?

The lighter side of #Rona19

After several weeks of lockdown during #Rona19, and despite the serious challenges that we still face from the Pandemic and its consequences, it’s typical of the human condition and our spirit of resilience that people have managed to find humour and goodwill in the depths of despair.

In no particular order (and without any judgement) here are just some of the distractions and interactions that have been keeping us amused during social isolation, as well as a few of the apparent positive effects:

  • The video conference call bloopers (memo to team: pants on)
  • Clips of dogs vs cats navigating home-made obstacle courses
  • #MeAt20 flashbacks
  • Elderly family members accidentally gatecrashing Houseparty online drinks
  • Some introvert pupils actually enjoying schooling from home
  • Clients and suppliers displaying genuine concern for each others’ welfare in e-mails and on calls (I just hope this empathy endures beyond the Pandemic)
  • People reducing food waste (less shopping, less fussy about use-by dates)
  • Homemade videos and photos recreating scenes from famous movies and artwork 
  • More wildlife in urban areas (I’ve also seen more birds, bugs, bees, butterflies and beetles in my back yard and in nearby parks)
  • Public libraries of iconic images for use as video call backdrops (conference calls will never be dull again…)
  • An apparent drop in traditional crime rates, and fewer typical hospital casualties (people not going out getting drunk, getting into fights or overdosing)
  • Hosting virtual dinner parties (no need to organise a taxi home)
  • Many homes now have a “clearance corner” awaiting charity shops reopening (all that time to sort out cupboards and drawers)
  • A visible reduction in air pollution (as evidenced by before/after photos from various cities)

Next week: Startupbootcamp’s Virtual Demo Day

 

The “new, new normal” post-Covid-19

After the GFC of 2007-8, we were told to get used to the “new normal” – of low/slow/no growth, record-low interest rates, constant tech disruption and market dislocation as economic systems became increasingly decoupled from one another. And just as we had begun to adjust to this new reality, along comes Covid-19 and totally knocks our expectations sideways, backwards and upside down, and with it some negative long-term consequences. Welcome to the “new, new normal”.

Just what the doctor ordered: “Stay home and read a book!”

In the intervening years since the GFC (and don’t those days seem positively nostalgic from our current vantage point?), we have already seen ever lower interest rates, even faster disruption in business models and services, and a gradual dismantling of the trend towards a global economy. The pre-existing geopolitical landscape has either exacerbated this situation, or has been a prime beneficiary of the dismantling of the established structures of pluralistic, secular, non-sectarian, social-democratic and liberal societies.

First, relations between the Superpowers (USA, Russia and China) have not been this bad since the Cold War. Second, nationalism has not been as rife since the 1930s. Third, political leadership has tended toward the lowest common denominator of populist sloganeering. Not to mention the rise of fundamental religious sects, doomsday cults and tribal separatist movements. Let’s agree that even before the current pandemic, our resistance was already low….

Whatever your favourite conspiracy theory on causes and cures for Covid-19, it’s increasingly apparent that populist leaders of both the left and the right will use the pandemic as vindication of their policies – increased xenophobia and tighter border controls, increased centralisation of power and resources, greater surveillance of their citizens, a heightened intolerance of political dissent, a continued distrust of globalisation, and a growing disregard for subject matter experts and data-driven analysis.

The writing’s on the wall? Message seen in East Melbourne

There are obviously some serious topics up for discussion when we get through this pandemic. Quite apart from making the right economic call (“printing money” in the form of Quantitative Easing seems the main option at the moment…), governments and central banks are going to have to come to grips with:

  • Universal Basic Income – even before Covid-19, the UBI was seen as a way to deal with reduced employment due to automation, robotics and AI – the pandemic has accelerated that debate.
  • Nationalisation – bringing essential services and infrastructure back into public ownership would suggest governments would have the resources they need at their disposal in times of crisis – but at the likely cost of economic waste and productivity inefficiencies that were the hallmark of the 1970s.
  • Inflation – as business productivity and industrial output comes back on-line, the costs of goods and services will likely increase sharply, to overcome the pandemic-induced inertia.
  • Credit Squeeze – banks were already raising lending standards under tighter prudential standards, and post-pandemic defaults will make it even harder for businesses to borrow – so whatever the central cash rates, commercial lenders will have to charge higher lending rates to maintain their minimum risk-adjusted regulatory capital and to cover possible bad debts.
  • Retooling Industry – a lot of legacy systems might not come out of the pandemic in good shape. If we have managed to survive for weeks/months on end without using certain services, or by reducing our consumption of some goods, or by finding workarounds to incumbent solutions, then unless those legacy systems and their capacity can be retooled or redeployed, we may get used to living without their products all together.
  • Communications Technology – government policy and commercial settings on internet access, mobile network capacity and general telco infrastructure will need to be reviewed in light of the work from home and remote-working experience.
  • The Surveillance State – I’m not going to buy into the whole “China-virus” narrative, but you can see how China’s deployment of facial recognition and related technology, along with their social credit system, is a tailor-made solution for enforcing individual and collective quarantine orders.

Another policy concern relates to the rate at which governments decide to relax social-distancing and other measures, ahead of either a reliable cure or a vaccine for Covid-19. Go too early, and risk a surge or second wave of infections and deaths; go too late, and economic recovery will be even further away. Plus, as soon as the lock-downs start to end, what’s the likelihood of people over-compensating after weeks and months of self-isolation, and end up going overboard with post-quarantine celebrations and social gatherings?

Next week: The lighter side of #Rona19

 

#Rona19 – beyond the memes

More commentary on Covid-19 – at the time of writing, Victoria is at Stage 3 restrictions, with Stage 4 possible very soon. Generally, people seem to adapting to if not actually coping with this daily reality (although people are still flouting their quarantine obligations). But there is still some confusion on how to interpret, observe and enforce the social distancing measures, and of course, huge economic uncertainty remains for many people who have seen their working hours evaporate, especially if they are in vulnerable industries, and/or they can’t work from home.

Sign of hope? (Seen on my daily walk)

Meanwhile, the shutdown has prompted a fair number of less serious responses, from toilet paper memes, to “viral” GIFS, from parodies of “My Sharona” and “Bohemian Rhapsody”, to unfortunate examples of the downside of company video conferences while working from home.

But beyond the hashtags, what might we expect once we get through the current pandemic? Here is a somewhat random list of possible outcomes:

  • A renewed appreciation of personal space in public places – will we continue to observe such protocols where and whenever practical, as it becomes a community norm?
  • Greater respect for introverts – possibly better able to handle self-isolation, they are comfortable with their own company and don’t feel the need to seek out crowds  – social distancing does not represent an existential crisis, and they don’t rely on social situations for their personal validation.
  • Passenger airlines and cruise companies are toast – the tourism and travel industries will be hard hit, and may struggle to rebuild in their current form.
  • The online economy will get a boost  – restaurants and providores are already retooling to offer D2C food and meal deliveries (even cutting out the likes of Uber Eats, Deliveroo and Menu Log). Some brick and mortar retail is adapting fast, but will face a reduced share of available discretionary spending.
  • Naturally, digital services will thrive – from communication solutions to virtual classes, from remote working support services to telehealth. But bandwidth capacity and internet down/upload speeds remain a challenge in Australia.
  • The end of physical cash – if retailers prefer contactless payments (less contamination), what use are those notes and coins in your wallet?
  • A higher community standard for the individual duty of care we owe to each other – Covid-19 will certainly test the “duty of care” we owe to neighbours, colleagues, members of the public… if I knowingly infect someone, or act recklessly or negligently, can the victim sue me?
  • Likewise, the corporate social license to operate will be tested and re-cast – in light of monopolistic practices, price gouging, market abuse and disregard for the “new normal”, companies will need to re-assess many of their standard policies.
  • Increased use of facial recognition and other technology for surveillance purposes – if people cannot be trusted to observe their quarantine, self-isolation and social distancing obligations, the authorities will not shy away from further incursions into civil liberties that we currently take for granted.
  • A hybrid of on-site and working from home employment structures – not everyone will want to continue working remotely, nor will everyone be in a rush to head back to the office (or the daily commute), which will likely cause headaches for employers….

More on these themes next week….

Next week: The “new, new normal”