A dozen “pioneer” start-ups are taking part in the Oil and Gas Technology Centre’s third annual TechX Accelerator programme.
Being delivered virtually for the first time, it is hoped the 16-week scheme launched today will lead to more of the success stories spawned by previous rounds.
Norwegian energy firm Equinor joins BP and KPMG as the programme’s industry partners. They will work closely with participants to provide access to technology specialists, financial experts and test facilities, as well as opportunities to showcase their products and services globally.
The start-ups are also supported by multiple other delivery partners through each stage of the programme, receiving investor readiness skills and training, plus support from more than 110 experienced mentors.
Half of this year’s cohort are clean technology firms, reflecting industry momentum towards net zero-carbon emissions.
Up to £100,000 of funding is being made available to participating firms, with no equity take or payback required, while all intellectual property will be retained by the start-ups.
Each business will also have access to two years’ free support through the TechX Plus incubator.
To date, TechX has supported 33 firms and provided about £3.3 million of funding to early-stage technology start-ups.
Director David Millar said: “At TechX we have embraced the disruption and pivoted our offering to a virtual one to ensure we continue to provide world-class support to these exciting start-ups.”