Equinor has announced the inaugural class of global start-up companies selected to participate in the Techstars Energy Accelerator.
The ten start-up companies have been selected from hundreds of applicants across 38 countries. They will seek to accelerate their development through an intensive 13-week program, tapping into a global network of experts from Equinor and Techstars as well as the partnering companies KONGSBERG and McKinsey & Company.
“We are excited and privileged to welcome these companies to the first Techstars Energy accelerator. We in Equinor are proud of our technology leadership in the energy sector. But we also recognize that the pace of innovation is speeding up. Energy sources and markets are transforming – becoming smarter, cheaper and cleaner. That is why we look forward to learning from the best, brightest and boldest to test new ideas and find new solutions to the world’s energy needs,” says Al Cook, Equinor’s executive vice president for Global Strategy & Business Development.
The selected companies represent solutions within oil and gas, new business models, digitalisation and renewables. At the end of the program in December, they will present their solutions to Equinor, the partners and other potential investors at a Demo Day.
“Our Techstars partnership and the Techstars Energy Accelerator is a great match for KONGSBERG. The Accelerator’s ambition to use knowledge sharing, innovation and digitalization as means to provide new and improved solutions to the energy sector matches ours. Our great advantage is that we are able to draw on a long history of technology innovations and experience with developing digital industrial solutions to the industry. We want the smartest start-ups in the sector to benefit from that advantage too. In this way, we will build great partnerships, more synergies and opportunities for everyone involved,” says Christian Møller, CTO in Kongsberg Digital.
“This unique partnership between a leading energy company like Equinor and Techstars, together with partners KONGSBERG and McKinsey & Company, provides a great opportunity for companies that aspire to shape the future of energy. These ten start-ups now get the opportunity to gain traction through deep mentor engagement, rapid iteration cycles and fundraising preparation. We are excited to get started and help more entrepreneurs succeed,” says Audun Abelsnes, Managing Director for Techstars Energy.
The accelerator is hosted at Equinor’s Oslo offices with access to Norway’s world-class energy-technology industry. Norway is the 8th largest exporter of oil, the 3rd largest exporter of gas in the world, and Norway itself is run on 97% renewable energy sources.