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BP sponsored accelerator programme calls for innovative tech start-ups

Release date: 29 November 2018

The Oil & Gas Technology Centre has begun its search for exciting start-up companies to join its unique TechX Pioneer Programme. An accelerator and incubator programme backed by more than 120 industry partners and mentors, TechX will help select group of technology developers to take their solutions to the oil and gas market – faster

Applications are now open for the Pioneer Programme, which will provide up to £100,000 for start-up technology companies with ground-breaking ideas. With no equity or payback required, developers also retain all intellectual property.

 

BP Ventures has confirmed it will be the strategic partner for the Pioneer Programme for a second year. This partnership will see BP offer up to £135,000 to outstanding Pioneers, as well as dedicated access to BP’s facilities and expertise.

 

The TechX Pioneer roadshow has already been out and about to cities including Edinburgh, Manchester, Aberdeen and London in the UK will be in Boston and Houston in the US during December to encourage technology start-ups internationally to apply for a place on the programme.

 

The launch of the second, annual programme is hot on the heels of the graduation of the first cohort of TechX Pioneers last month.  During the 16-week programme these 10 companies benefited from business mentors, co-working space, forward-thinking business partners, rapid prototyping, test facilities, large scale field trials, and showcase events.

 

Using the Oil & Gas Technology Centre’s extensive network, the Pioneers had over 150 meetings with 47 different operators and service companies during the programme. This unique opportunity provided the 10 start-ups with insight, validation and seven of them have received numerous expressions of interest for field trials.

 

David Millar, TechX Director said: “The first year of the TechX Pioneer programme was a huge success with our cohort of 10 start-ups.  We are delighted to be opening applications once again to see what technology ideas are put forward and who our next cohort of start-ups starting the 16-week intensive programme next Spring will be.   We are delighted to once again have BP Ventures onboard as our strategic partner, providing invaluable insight, guidance and experience.

 

Rotimi Alabi Founder of RAB Microfluidics, another of the newly graduated Pioneers and winner of the BP TechX Technology Award of £60,000 to continue to support their technology development said: “Our 16 weeks on the TechX Pioneer programme accelerated our business in ways we never imagined.  The learning curve and wealth of information and guidance we received in a few short months was something we wouldn’t have had access to without the TechX programme.  I’d encourage any start-up with a technology idea which could solve a challenge in the oil and gas industry, to apply for the Pioneer programme.”

 

David Gilmour, Vice President Business Development BP Group Technology, said: “The TechX initiative has been a success, with year one uncovering some breakthrough thinking and innovation that we believe could help transform the energy sector, not just in the North Sea but across the globe. One of BP Ventures’ core principles is to identify and invest in game-changing technology companies that are accelerating cutting edge innovations across the entire energy spectrum. TechX ticks all these boxes. We are delighted to continue our support of this ground-breaking programme and we look forward to working with the next cohort of Pioneers to help scale and develop their ideas further.”

 

The fast and flexible online application process is now open for the Tech X Pioneers programme, which will begin in May 2019. The process for Pioneers will close on 31 January 2019, with places confirmed in March 2019. 

Notes to editors

2018 TechX Pioneer Graduates

  • Blue Gentoo
  • Envio
  • Immaterial
  • Intelift
  • Paragon Inspection
  • RAB Microfluidics
  • Sensalytx
  • Tenzor GEO
  • Tubular Sciences
  • Test 1

About the Oil & Gas Technology Centre

  • The Oil & Gas Technology Centre is a not-for-profit, industry-led, technology research and development organisation based in Aberdeen.
  • The Oil & Gas Technology Centre was established in October 2016 with £180 million funding as part of the Aberdeen City Region Deal.
  • The Deal is a long-term improvement programme to enhance growth, competitiveness, connectivity, infrastructure, housing and employment into an already successful regional economy.
  • The Deal is supported by the Scottish Government, UK Government, Aberdeen City Council, Aberdeenshire Council and Opportunity North East.
  • An additional £174.1 million has to be generated in matched funding from industry, university or others as part of the Centre’s long-term funding, which can be both cash and in-kind.

About the TechX Accelerator Programme

  • Our Pioneers programme provides access to unparalleled funding – with up to £100,000 available to start-ups with new technology ideas, expert mentors and global partners to develop and validate new technologies.
  • TechX requires no equity or payback, and the developer retains all intellectual property. We support Pioneers to ensure they are both technology and investment ready.

About BP Ventures

  • BP Ventures identifies and invests in private, high growth, game-changing technology companies, accelerating cutting edge innovations across the entire energy spectrum.
  • Since 2006, BP Ventures has invested more than $350 million in corporate venturing and has more than 40 active investments in its current portfolio. Since 2016, BP Ventures has invested in 9 new companies, committing to over $100 million of capital.
  • BP Ventures’ portfolio is focused on emerging technologies in oil and gas exploration and production and downstream conversion processes. In addition, it has a renewed strategic focus on five key areas: bio & low carbon products, carbon management, power and storage, advanced mobility and digital transformation.