The effects of the COVID-19 crisis have had enormous impacts on businesses and entrepreneurial communities across the globe. Halted investment in innovative ideas and uncertainty from the pandemic have made it far more difficult for startups and younger businesses to thrive and continue developing and providing necessary products and services to their target markets.
To assist those businesses affected by the COVID-19 crisis, EIT Climate-KIC, a Knowledge and Innovation Community supported by the the European Institute of Innovation and Technology is investing €4 million in climate ventures that have been affected by the impacts of the COVID-19 crisis and whose innovations work to make strides in the fight against climate change.
Out of 301 total applicants, DABBEL was one of nine businesses selected to receive Climate-KIC funding.
The Extraordinary COVID-19 Venture Support 2020, which is supported by EIT Climate-KIC and is part of the EIT’s Crisis Response Initiative, is meant to ensure that “drivers of climate innovation in Europe and beyond recover from the impacts of the COVID-19 crisis” and will help “support them in their efforts to bring essential innovations to contribute to the fight against climate change.”
Not only does the initiative provide immediate assistance to both startups and small businesses, but it also supports companies that produce and develop the solutions that work towards the EIT’s climate goals and pursuit of a quick transition to a low-carbon economy.
Receiving a total of €320,000 in funding, DABBEL stood out among applications as a leader in innovative technology that can assist in accomplishing these targets. Essentially replacing the building energy manager’s brain with AI-driven software that controls energy systems autonomously and in real time, DABBEL reduces HVAC energy consumption and CO₂ emissions by up to 40 percent. Not only does this benefit all involved in the building sector, but implementation of such technology on a wide scale is a necessary step in reaching the climate goals put forth by the European Union.
Business in a COVID World
DABBEL’s ability to help buildings self-manage their energy needs not only contributes to sector innovation and strides towards a more energy-efficient economy, it is also an essential tool for businesses that need to adapt to the unprecedented changes they are experiencing in a COVID world.
With work-from-home initiatives and an enormous increase in telecommuting, commercial buildings also face the new challenge of adapting to the current energy needs of their buildings and those inside. Failing to do so will only lead to further wasted energy consumption.
DABBEL’s self-driving building management system is exactly the kind of solution that can help companies adapt to the changing work environment brought on by the COVID-19 crisis. Since the system is able to monitor building changes, it can adapt to the environment in real time and make the necessary changes to ensure proper energy usage.
At a time of enormous change in working habits, solutions like DABBEL are essential for companies to adapt to the exact needs of their buildings and their employees. Combine this with the large-scale impacts such technology can have on the environment and the fight against climate change and you’ve got a powerful combination.