Today, 10 exciting companies will graduate from the inaugural Oil & Gas Technology Centre TechX Pioneers Programme – a unique technology accelerator and incubator helping ambitious firms take their solutions to the oil and gas market – faster.
Scottish Energy Minister, Paul Wheelhouse MSP joined business, civic and academic leaders at a graduation event in Aberdeen to recognise the fantastic progress of the Pioneers during the intensive 16-week programme to help the entrepreneurs commercialise their solutions.
With expert support from experienced business mentors, co-working space, forward-thinking business partners, rapid prototyping and test facilities, large scale field trials and showcase events, the Pioneers have enjoyed access to unrivalled support.
In just four months, they’ve had more than 150 meetings with industry leaders and several Pioneers have secured a total of seven field trials with major operating companies – an essential step towards fully commercialising their technology solutions.
Using our extensive network to make connections with investors and companies, the Pioneers have been able to fast-track development. They’ve also received funding of up to £100,000 with TechX requiring no equity or payback, and the developer retaining all intellectual property.
Our strategic partner, BP Ventures has played an integral role in the programme and has today confirmed it will award additional funding of £100,000 to two exceptional Pioneers, as well as dedicated access to BP’s facilities and expertise.
RAB Microfluidics will receive the BP TechX Technology Award of £60,000 to continue to support their technology development. Intelift will receive the TechX Performance Award of £40,000. We look forward to continuing our partnership with BP Ventures and BP UK on future programmes.
Our 120 experienced mentors and partner companies have provided expert advice and support throughout the programme. Pioneers were invited to make nominations for the Mentor and Partner of the Year Award.
Janet Milne scooped the Mentor of the Year Award and there were two Partner of the Year Awards winners; Pinsent Masons and Pinnacle. Huge thanks to all our mentors and partners who’ve been instrumental in making this first TechX Pioneers Programme a real success.
The next TechX Pioneer Cohort will begin in May 2019, with the application process open from 1 October 2018 to 31 January 2019. Visit www.theogtc.com/TechX to get involved.