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Engie Group leading the energy industry revolution in Latin America

Engie Group leading the energy industry revolution in Latin America
In 2014, facing the rapid transformation of the energy industry, Engie set out to "prepare for the future." Challenging paradigms and structures, it partnered with INNSPIRAL to create Engie Factory, a unique accelerator in the world. Four years later, the project has brought to life fifteen pioneering companies, with over 200 talents, and has expanded its successful model to Mexico and Singapore.

Back in 2014, Engie (formerly GDF Suez) took on the challenge of gearing up for the fast-evolving energy industry. With new players and technologies shaking up the game, the energy sector was ripe for change. Tackling the future challenges of energy generation and smart usage in Latin America, while bringing in emerging technologies and top-notch talent from Chile, seemed like an enticing opportunity. But breaking away from old paradigms and navigating through rigid processes and organizational structures posed significant hurdles. It was time to inject innovation into an industry known for its rigidity. INNSPIRAL was the sole company tapped to take on this challenge, given its track record in innovation management and open innovation.

To “prepare for the future,” as Engie envisioned, they needed to embrace brilliant entrepreneurs, disruptive technologies, and break free from tradition. Alongside INNSPIRAL, they charted a path forward: creating an open innovation platform where the ENGIE group could develop cutting-edge, technology-driven solutions to address future energy challenges in Latin America. Thus, Engie Factory was born.

Nearly four years since Engie Factory’s inception, this accelerator and incubator for energy and sustainable projects operates using two models: Company Builder, co-founding companies to fast-track their growth, and Corporate Venture Capital (CVC), investing in startups with potential for acceleration. Fifteen companies have emerged through Engie’s accelerator under these two models, with over 200 talents spanning various specialties working across them. With impressive outcomes, Engie Factory has replicated its business model in Mexico and Singapore, countries where it has established offices.

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