Dr. Vassilis Nikolopoulos is the co-founder & CTO of the deeptech technology startup AVOKADO. In the last 25 years, Vassilis has been working in applied research, technology transfer and innovation management procedures, focusing on big data problems applied to utilities and the digitalization of the energy sector. He co-founded the Deep tech startup Intelen, one of the most successful startups in the digital energy and utility analytics markets, with some big utilities as clients in Greece, Europe, and the USA. He has also worked for years in applied energy behavioral science, data analytics, algorithms, and the application of social networks to change human behaviors towards a more sustainable way of living. We met with Vassilis and talked about his new venture AVOKADO. Here's what he told us. 

Tell us a few things about AVOKADO. How did it all start? How did you discover the market opportunity for your solution, and where are you today?

Avokado was introduced to the Greek and international audience on Wednesday 21 June 2023, aspiring to change the way we use, produce, and interact with energy. Avokado is a great example of how a big corporate organization can boost innovation, new ventures, and technology enablement. By combining internal investment and intrapreneurship, Avokado was created to become a leader on Energy AI. Adoption of new technological solutions and in particular Artificial Intelligence (AI) is a necessary condition for the implementation of the green energy transition. However, global supply is limited compared to the existing demand. Avokado comes to fill this gap, with solutions tailored to the needs of the global smart energy market. Powered by Metlen Energy & Metals, Avokado promises to create an energy future worth experiencing through new and exciting services. Combining AI, Data Intelligence, and new technologies such as Internet of Energy, Mobile, Social, Blockchain, it is reshaping the way we perceive energy supply and is building "smart cities" for "smart citizens".

How do you differentiate from other similar offers in the market? What value does AVOKADO bring to the customers and partners?

Avokado is different and better because it combines key Energy AI ingredients, such as Machine Learning for Energy, Geolocation AI, and Generative AI, into ready-to-run Energy AI offerings for energy optimization. Energy AI means the artificial intelligence (AI) techniques and technologies that improve the efficiency, reliability, and sustainability of energy supply chains. It combines math, physics, engineering, computational geography, traditional economics, behavioral economics, and many other scientific disciplines into algorithms and models for solving complex problems in the Energy sector. The value that Avokado brings to our clients and partners can be summarized as below: 

• Electricity retailers (utilities and independent aggregators) and Prosumers benefit from AVoS™ because it turns any Battery Energy Storage System (BESS) into an intelligent machine for Flexibility services.
• Electricity retailers (utilities and independent aggregators) benefit from Avokado AI™ because it equips energy professionals with multi-purpose ML models for AI-powered operational excellence.
• Cities, Businesses, and Households benefit from AVOX™ because it integrates Energy AI, Location AI, and the Internet of Energy onto a single platform to simplify the green energy transition.

What would you consider to have been (or are) your biggest challenge so far?

Our biggest challenge so far is to grow Avocado’s business outside of the Greek market and more specifically to expand in the UK. Expansion means extended strategy, bigger team, strong mentality, advanced technologies, ability to adapt and ability to compete with global players. 

What are the biggest learnings from your journey so far?

Core learnings are the developed ability and skills to create a successful spin off from a big corporate stakeholder. Spinning out a technology startup is not an easy thing to do. It requires strong sot skills and intrapreneurship strategies. Learnings from this specific approach will help Metlen to spin out more startups in the near future. 

AVOKADO is not your first startup and you do have a lot of experience in the corporate world. How do the two worlds differ? What makes the startup mindset so unique and attractive?

Collaboration between a corporate player and a startup is not an easy thing. I have been in all sides of the table (Intelen, Metlen, Avokado) and I have gained a very strong, compact, 360 experience in startup entrepreneurship and corporate intrapreneurship. If a corporate firm adapts startup mentality, will gain a very important innovation skillset: speed and agility. Startups are based on risk whereas corporates hate risk, so this is something that a corporate stakeholder must understand: how to manage risk under a startup mentality. Finally, a startup has the ability to apply agile philosophy and to speed up developments and experimentation. Experimentation is the mother of innovation. If a corporate firm can accommodate startup agility, in a small scale, will become very efficient in terms of technology creation and differentiation. All the above are advantages that Metlen takes currently from Avokado.