Hyko by CareToSave received a EU grant of 50K from SpeedUp! Europe

100 projects across Europe is granted 50K to help boost web-based applications using open source FIWARE technology

Hyko by CareToSave is one among only 8 winning projects from the Netherlands who is part of SpeedUp! Europe. Majority of the projects came from Germany and the rest from countries like Sweden, Denmark, United Kingdom, Spain, Italy, Greece, Latvia, Serbia, Czech Republic.

February 22, 2015, CareToSave team signed a grant agreement with Speed UP! Europe, EU-funded FIWARE Accelerator for €50 000. The grant funds will be used to develop Hyko Cloud and Hyko App, which is part of Hyko product system.

Hyko product system consists of:

  • Hyko’s Adventure - interactive storybook apps – to educate and motivate kids to save energy

Just recently in February, CareToSave already released Hyko's Adventure iPad app (in Dutch) in collaboration with Stedin, a Dutch grid operator. See press release here. Today, Hyko's Adventure app is also available in English.  Hyko's Adventure app was downloaded 5 260 times. 

  • Hyko Senses instantly measures household’s electricity consumption from electricity meter. All the measurements from Hyko Senses are sent wirelessly to Hyko Bear, instantly.
  • Hyko Bear. Always in your sight, happy or sad. Hyko Bear is a smart connected glowing polar bear that visualises household’s electricity consumption in real-time. Hyko Bear is a beautifully designed sculptural piece, a lovely addition to any decor. All the consumption data is optionally sent to Hyko Cloud.
  • Hyko Cloud is all about data crunching, analysis and control.
  • Hyko App - gamified app for continuous engagement. Hyko App as for adults as for kids provides a progressive learning on wise use of electricity, tips for improvement, rewards, competitions, statistics.

Funding from SpeedUp! Europe allows CareToSave not only to develop, but also introduce  the whole Hyko package to the market at once, already this year.

Funding details

Supported by the European Union, the Speed UP! Europe programme has a budget of €5.5 million, which allocated grants to 100 selected project teams to develop innovative web based applications using FIWARE generic & specific enablers in the areas of AgriBusiness, SmartCities and CleanTech.

100 projects are granted €50,000 each for software and equipment, travel expenses, rent of facilities and accommodation costs. An additional €20,000 can be requested during project implementation to bring in another project member at a later stage. The maximum financial contribution for a single project is therefore €70,000 This is a grant with no repayment, nor do you need to give away shares. 

By the requirement of SpeedUp! Europe funding the project team shall relocate and be mostly resident during the project time in one of the HUBs Copenhagen, Aarhus, Amsterdam, Hamburg, Stockholm.

The implementation and allocation of funds for the projects will be done in 3 periods of 3 months each, with a milestone to be achieved at the end of each period: Minimum Viable Product (MVP) for the first period, Custom Market Fit for the second period and Growth ready for the last period.

Projects who have reached the “Growth Ready” milestone will also have the possibility to apply and compete for the SpeedUP! Awards (total amount of Euros 500.000, divided in 5 prizes).

In total CareToSave could receive up to €170,000 for Hyko.

Hyko project is led by CareToSave team of Andriy Shmyhelskyy (CEO&Founder), Folkwin Elmaar (Business Development) and Gert van Kempen (R&D and Advisory).

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    Andriy Shmyhelskyy

    +31 (0) 6 17 81 04 66
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    Folkwin Elmar

    VP Business Development
    +31 (0) 6 53 37 37 11
About CareToSave

That’s how CareToSave believes we can make a better world. As a socially conscious, environmentally responsible enterprise, that’s the whole reason we started our company. So we created Hyko, a super-powered polar bear named after an Inuit word for “ice”. Through Hyko’s storybook adventures and a forthcoming energy-monitoring device, CareToSave gives families the power to understand their energy consumption and make a positive difference in their homes and in the world. 

Founded with CARE in 2014, Amsterdam, as part of Rockstart Smart Energy Accelerator

Dat is hoe wij denken hoe we samen de werled kunnen verbeteren. Daarom hebben we het bedrijf CareToSave opgericht om een bijdrage te leveren aan een meer duurzame samenleving. We hebben Hyko geintroduceerd, een ijsbeer vernoemd naar het woord ""ijs"" in Eskimo taal. Met Hyko's verhalenboek en Hyko's energie monitoring apparaat, geeft CareToSave gezinnen de mogelijkheid om hun energieverbruik te volgen en een bijdrage te leveren aan een duurzaam huishouden en een duurzamere wereld.