Ameren Corp. has a unique partnership to help drive new energy solutions
ST. LOUIS—Ameren Corp. is looking for a few bright entrepreneurs to develop tomorrow’s energy technologies. And it’s teaming up with Capital Innovators, a technology startup accelerator, and the University of Missouri in St. Louis in what the chief operating officer of Capital Innovators is calling “a new model that’s never been done before.”
“We wanted to take the traditional business accelerator to the next level,” COO Brian Dixon told American Gas. Meanwhile, Dan Lauer, who heads the university’s UMSL Accelerate, said his program’s purpose is nothing less than “to solve some of the big problems of the world.”
Energy is a good place to start, he said.
Capital Innovators has already invested in 73 new companies, but has never before partnered specifically with an energy company. The Ameren Accelerator will allow energy technology startups to count on the energy expertise at Ameren, the research potential of the university and help from student interns and experienced alumni.
More than 100 entrepreneurs applied to the program, and a dozen or so will be invited to pitch their ideas to judges from Ameren, the university and Capital Innovators. Ameren will select the top five to seven by early July, and each will be given $100,000 in seed money. During the 12-week program, they will receive hands-on support from experts in energy, sales, marketing, technical development, operations, talent development and finance. During Demo Day in October, Ameren could decide to continue working with the most promising projects.
Dixon said several of the applications have involved natural gas; there are also solar, wind, tidal and electric proposals. The leaders of the Ameren Accelerator are trying to keep the types of startups under consideration wide open. For example, they could even include artificial intelligence or cybersecurity, such as artificial intelligence being used to find a more efficient way to distribute natural gas, Dixon said.
Dixon said the program will continue for at least three years. The young businesses will be located in Cortex, St. Louis’ innovation and technology district.
The goals are to better position Ameren to meet its customers’ future needs and expectations, create new jobs and provide university students opportunities to be engaged in the energy business, according to a news release from the company. Warner Baxter, CEO of Ameren, said the program is a key component of the company’s focus to make the energy grid smarter, more reliable, resilient and secure while transforming how customers manage and use energy.