ABERDEEN, UK – The Oil & Gas Technology Centre (OGTC) has initiated the second year of its TechX Pioneers program.
The scheme, backed by more than 120 industry partners and mentors, is designed to help promising technology start-up companies in the UK and elsewhere take their ideas more quickly to the oil and gas market.
Applications are open for new solutions. TechX will offer up to £100,000 ($129,000) in support with no requirement for equity or payback; developers will also retain all intellectual property.
For the second successive year BP Ventures has agreed to be strategic partner for the Pioneers program, pledging up to £135,000 ($175,000) to the best solutions and access to BP’s facilities and expertise.
Over the next four months the Pioneers campaign will be rolled out in UK cities such as Edinburgh, Manchester, and London and in Boston and Houston in the US.
Chosen ‘Pioneers’ from the program’s first year had more than 150 meetings with 47 different operators and service companies. Six of the start-ups have since received expressions of interest for field trials.
Rotimi Alabi Founder of RAB Microfluidics, one of the Pioneers and winner of the BP TechX Technology Award, said: “Our 16 weeks on the TechX Pioneer program 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 program. 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 program.”