The Greek startup ensight in the final of the MIT Enterprise Forum Greece

At a time when the energy crisis is affecting the global economy and the spike in energy prices is troubling businesses and households, putting as a key issue in the public debate finding ways to save electricity and consequently reducing the bill, a Greek start-up is coming to give a “helping hand”.

This is the Greek startup company ensight, which managed to stand out in the final phase of the technology and innovation competition MIT Enterprise Forum Greece as one of the three finalists in the field of energy. The ensight distinction becomes even more important if one considers that the 10 finalists of this year’s competition were selected through a total of 560 applications.

The young green tech company won the interest and the qualification to the final of the competition thanks to the application that it has developed and which measures and predicts the consumption of our electrical appliances.

The idea was “born” in the context of a master’s thesis prepared by Michalis Manis and Apollonas Konstantopoulos for an application that will be able to monitor and accurately predict electricity consumption, transforming into practice their vision for a more environmentally friendly way which will result in saving as much energy as possible.

Thus was born ensight, which thanks to a trained team of developers, data scientists and energy experts and with the use of machine learning and artificial intelligence is changing the way we have been monitoring the consumption of electricity until today, with the company evolving rapidly in a promising seed of the Greek startup ecosystem.

” In short, it is an innovative solution, achieving energy savings, which in turn significantly reduces the electricity bill in households and businesses. “Essentially, this is the first startup that manages to directly measure and predict electricity consumption in our country with the help of machine learning algorithms and artificial intelligence which ultimately allow us to see a reduction in our bill,” said the its founders.

As explained by the CEO of the start-up company, Michalis Manis, the solution is given by the application that anyone can download on their mobile phone and with which they can at any time and in live transmission to monitor, but also to predict the power consumption.

He emphasizes, in fact, that the application educates the individual user, whether it is a home consumer or a business, through interactive training videos, in order to instill a culture of environmental awareness, which will contribute to the reduction of electricity consumption, with the ultimate goal of change habits in terms of its energy profile.

The way this is done, explains the CTO of the startup company Apollonas Konstantopoulos. As he says, the first step is to install a meter in the central electronic panel of each user. The meter will accurately record power consumption, transferring data to the cloud. Then, the “baton” is taken by machine learning and artificial intelligence algorithms, which transmit in the form of data to the user’s mobile application useful personalized reports and tips for power consumption.

Aiming to further develop the network and expand throughout Greece by the end of 2023, targeting households and small and medium-sized enterprises, ensight has already been in direct contact with representatives of some municipalities in Attica, as well as the Eastern Aegean, in order to provide this program on a pilot basis and at no cost.

At present, this program is provided on a pilot basis in the municipality of Vari, Voula, Vouliagmeni.

In terms of financing, the development of ensight to date has been based on equity and its goal is to reach deals, which will seal its excellent and dynamic course in the domestic startup scene, which has grown up and seems to “speak” with international terms.

Other surprises follow

The vision of Michalis and Apollo, however, includes other plans, aiming at a better, more environmentally friendly world through environmental awareness.

” In our quiver we have other innovative applications and services that we will develop and present gradually. The world of technology is changing rapidly and the fields of development still have a long way to go. We are passionate about technology and every innovative idea with which we can help society and the environment “, they reveal.

Regarding the MIT Enterprise Forum Greece competition, the two founders of ensight describe it as “an important journey to the international markets”.

“The program provided us with crucial supplies in an extremely important way. It guided us and connected us with important investors, ensuring our access to high quality services, specialized knowledge and an international network of renowned specialists from internationally recognized professionals and prestige from the business and investment scene.” , they mention.