Runway to RISE Seoul: Korean Startup STRIX

STRIX

Korean Startup Strix offers a Virtual Power Plant (VPP) platform that manages distributed energy resources (DER).  They offer a microgrid which is a next-generation power system that applies modern technology to the traditional unidirectional power grid.  Users are connected to the system by applying IoT devices and can utilize their DERs with minimum cost and time.  Furthermore, STRIX connects to customer’s DERs and energy market to monitor and provide real-time data.  Therefore, based on the customer’s preference, their system automatically operates their assets to efficiently consume electricity.

Strix is a big data-driven electricity specialized IT company.  They offer smart solutions that help to effectively manage energy business needs for the upcoming smart grid era.  They research and develop methods to efficiently produce and consume energy for daily lives.  Strix aims to develop user-friendly technology that allows customers to manage energy easily, leading to a new era where customers can directly buy and sell energy.

KEYS TO WINNING AT RUNWAY TO RISE SEOUL

  1. Keep it simple and don’t get too technical.
  2. A picture or explanation of the current traditional power grid to the microgrid.
  3. Show the user experience for customers, how will they buy and sell energy?

Breakdown:

Strix has a great idea but there is some risk that their pitch could be too technical.  Will they be able to explain their business so that it is clearly understood?  Also a quick visual on the differences of power grids would be helpful.  They need to show WHY the switch to microgrids is the future.  Finally, they will need to show the user experience.  The concept of buying and selling energy by customers is fascinating but how does it work?  What would work best is to describe the common day using their system.  Then they can show graphs showing how much energy they saved throughout the day.

John Yoon

John Yoon is the Editor in Chief at Startup Radar, Organizer for Startup Festival 2017, and the Intl. BD Manager at 500v2. Email = john@startupradar.asia Wechat, Kakao, and Line user ID is jswy315

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