TechX Pioneer Programme Funds Ten Start-Ups
Autonomous underwater swarm robots and micro-polymers designed to reinstate well integrity, are just some of the new technologies that have secured funding through the Oil & Gas Technology Centre’s TechX Pioneer Accelerator Programme.
Nearly 200 applications from over 35 countries were received this year, with strong representation from the UK, US and Canada, covering both oil and gas and cleantech solutions that will support the industry to maximise economic recovery and the transition to a low carbon economy.
Ten start-ups will get up to £100,000 to develop their business and technology as part of an intensive 16-week accelerator programme that includes expert mentors, development partners and deep access to the industry.
After graduating, Pioneers have the opportunity to join a 12-month incubator called TechX+, with two companies awarded an additional share in £130,000 funding from strategic partner, BP.
All funding is provided with no equity or payback, and intellectual property is retained by the Pioneer – a distinctive approach that sets TechX apart from other global accelerator programmes.
David Millar, TechX Director said: “The quality of applications was exceptional and it’s been challenging to shortlist from such a strong field. We’ve selected the top 5% from a global pool to join our Pioneer Programme. We’ve also taken a huge amount of learning from the first cohort and reflected this in a simpler but more rigorous selection process, ensuring the right balance of technology, skills and ambition.
“The 10 Pioneers we’ve chosen truly embrace these qualities and we look forward to helping them achieve their full potential and deliver clear value to the UK Continental Shelf and beyond.”
The 10 tech start-ups that have landed a place on accelerator are: Vita Inclinata Technologies, Resolute Energy Solutions, Sedwell Limited, Hydromea, Mocean Energy, Sentinel Subsea, The Big Swing Company, Print3dWell, Green Mesa, AI Exploration.