Start-up companies in the clean technology sector from 24 countries, including Malta, can compete for a €20,000 prize and an opportunity of a €€150,000 investment.

PowerUp! by InnoEnergy, the fourth edition of the largest competition for start-ups from the cleantech sector, offers those interested an opportunity for business development and to establish a presence on the international market.

In addition to cash prizes, the winners of the competition can also look forward to a chance to participate in the prestigious Highway by InnoEnergy programme, which converts ideas and designs into market reality.

It offers beginner entrepreneurs financing up to €150,000 and wide-ranging support in the fields of product development and protection, team building, access to international customers and external financing sources.

Jakub Miler, the chief executive officer of InnoEnergy Central Europe, said the factor that distinguished PowerUp! among other competitions was not only the extensive experience of its organisers but, most notably, their business-oriented approach.

“We are managing the largest innovation ecosystem in the world, which is comprised of more than 320 members.

“They include leading power companies in Europe, academic and research centres, cities and regions,” Mr Miler said.

The grand finale of the PowerUp! competition will be held in Prague.