The European Commission said the EC has launched the Big Data Technologies Horizon Prize for optimising the use of energy grids through a more precise forecasting system. According to the Commission, a total sum of €2 million will be awarded to the winning data analytics solutions that devise an energy grid traffic forecasting system that is accurate, fast and scalable.
The three top ranked contestants will have to develop software solutions that will be designed to analyse extremely large collections of datasets, from time recordings of weather conditions to operation of energy grid management.
Another emerging technology prize was launched last week, when the Commission announced the €5 million European Innovation Council (EIC) Horizon Prize on Blockchains for Social Good.
According to the Commission, it will award 5 prizes of €1 million to social innovations using Distributed Ledger Technology (DLT), including blockchain based solutions. The prize is the third of six EIC Horizon Prizes. Both prizes are funded under Horizon 2020, the EU’s research and innovation programme.