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    Date submitted
  • 30-Nov-2017

Electrona

Abstract

Electrona’s technological innovation is the use of Lithium Ferro Phosphate (LiFePO4) batteries as an energy storage source for off-grid energy using Bolivian battery cells. Another part of our innovation is the business set up for the building of Lithium Ferro Phosphate battery cells locally in Bolivia. Bolivia is the poorest country in South America, which leads to very low rates of grid access to electricity as well as an unreliable grid when it is available. Manufacturing LiFePO4 batteries in Bolivia would not only make Bolivia one of the only LiFePO4 batteries provider in Latin America, a country with a growing off-grid market, but also create an industry which could potentially create many jobs.

Additional Questions

Who is your customer?

Developing Communities with unreliable energy access.

What problem does this idea/product solve or what market need does it serve?

Electrona mainly wants to develop an industry in Bolivia to create jobs and help the poorest country in South America grow. But it also wants to be Latin America's "go-to" battery supplier for off-grid energy solutions.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

A fail-safe battery system will make our batteries compete with the best on the market and manufacturing in Bolivia to sell to Bolivians and the rest of Latin America will reduce shipping costs. Therefore, Electrona's lithium battery will be a high quality and cheaper product for the Latin American market, where currently no local manufacturer exists.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Electrona's team is a diversified one, meaning that each member has a different background and perspective; however, every member has had experience working with LiFePO4 or micro grids making Electrona an experienced and unique startup. Furthermore, Electrona's advisor has years of experience in the energy and developing field which will empower Electrona to succeed. Also having several partners not just in Bolivia but in most of Latin America will help Electrona quickly grow.