eWatt is a young company founded by seasoned entrepreneurs. It was established in the summer of 2022, inspired by Europe’s green transition. Russia’s invasion had just caused a gas supply disruption, increasing uncertainty in the electricity market. We wondered if automation combined with AI could reduce electricity consumption and help to rationalise its use. We realised that data from new electricity meters offers new opportunities for rationalising electricity use and decided to develop a service based on this.
Spain is a potential market for eWatt because – compared to Finland – electricity prices are higher, price fluctuations are more significant, and the markets are generally much larger. The trip confirmed our belief that there is also demand for heating automation there, as temperature variations between day and night are significant.
I participated in both the Bilbao and Madrid parts of the trip. I believe that the Basque Country offers an excellent operating environment for Finnish companies, as our cultures share many similarities. In Bilbao, the importance of the Athletic Club must be addressed. Getting to know the club’s activities, including a stadium visit, was an impressive experience. The region lives and breathes football; you must understand this to run your business there.
My absolute highlight was getting to know the Bilbao Accelerator Tower (BAT) and its services. BAT is a business accelerator funded mainly by the region’s large and medium-sized companies with a strong interest in collaboration. What particularly struck me was the genuine willingness to help and the ready-made solutions arranged for foreign startup companies. Startups have the opportunity to pilot with large companies at a very early stage. This model is attractive for a small company.
Hightlight of my trip was the visit to Bilbao Accelerator Tower.
It was also rewarding to get to know the other Finnish entrepreneurs. The group spirit among the participants was excellent. Although eWatt operates in a different field than sports companies, entrepreneurs' daily lives and experiences unite us. The discussions with fellow travellers provided valuable experiences and insights.
Was the trip worth the time and money? Absolutely. It met my expectations well—with BAT, they were exceeded. Conversations with the Basque Country have continued since the trip. By the end of the summer, an energy sector accelerator will start at BAT, which we intend to apply for. Fingers crossed that we’ll get selected. Our company is thus seeing the prospect of the Spanish market opening up.
A big thank you to the people from the City of Jyväskylä and the Sport Finland network, who were fully involved. Their work and contribution were immensely valuable. They put in a lot of effort and arranged things in advance, and during the trip, they handled practical matters. Everything showed that they wanted to provide the best conditions for our companies to succeed.
Timo Saarinen
eWatt Smart Power Systems Oy
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The business delegation trip to Bilbao and Madrid was organised on April 22–26, 2024, as part of the Optimal Performance value network work operated by Jyväskylä Business Development Services. The companies participating in the trip were eWatt, Awesome Crowd, Neuwo, SAHA Training, Pro Recovery, Ketoinen, Northern Sports Insight and Intelligence (ACT Head Impact Tracker), Wello2, and ONIT Sport. The Madrid portion of the trip was organised by The Sport Finland Network. The network is based on a joint project led by the cities of Jyväskylä, Lahti, and Kuopio, supported by the European Regional Development Fund, and implemented between April 1, 2023, and December 31, 2024.
