- TechX technology accelerator programme roadshow showcased inaugural Pioneer cohort and their success stories.
- Aiming to attract applications for Cohort 2 in 2019 – offering up to £100k funding.
- No equity take or pay back required with IP retained by the technology developer
Aberdeen was the final destination in a series of national roadshows, hosted by TechX from the Oil & Gas Technology Centre – the North-East’s not-for-profit technology research and development organisation – aimed at inviting technology start-ups to apply for a place on its next TechX Pioneer programme in 2019.
Over the last few weeks the TechX team have taken their roadshow to London, Manchester and Edinburgh, showcasing the success stories from this year’s Pioneer programme and encouraging applications for next year’s second cohort which is now open for applications.
The 16-week intensive accelerator programme and follow-on 12-month incubator programme provides unprecedented access to over 150 expert mentors and global partners who can offer business advice and opportunities for developing and validating new technologies. The programme also offers unrivalled access to the energy sector market for business model and value proposition validation, ensuring that the Pioneers are technologically, commercially and investor ready.
Now in its second year, the TechX Pioneer programme also provides game-changing funding – with up to £100,000 available to each start-up with new technology ideas - without any equity take or pay back. What’s more, developers retain all intellectual property.
TechX is a globally unique proposition, offering expertise and support tailored for entrepreneurs looking to get into the Energy sector, faster.
TechX Director, David Millar got the Aberdeen roadshow underway with information on the programme and the application process. There was also an opportunity to meet Rotimi Alabi, Managing Director of RAB-Microfluidics R&D Company Ltd, one of the successful
Pioneers who recently graduated from last year’s programme and was the recipient of one of the BP Venture Awards.
Last year’s Pioneers had over 150 meetings with 47 different operators and service companies during the programme, a result of the extensive network of the OGTC. This exclusive opportunity provided the 10 start-ups with an invaluable degree of insight and validation which could of taken over four years to complete on their own. As a direct result, seven of them have received over fifteen expressions of interest for field trials, with two of these in final stages of set up.
Upon successful completion of the 16-week programmer, Pioneers move into TechX Plus, which offers a further 12 months support via an incubator programme.
BP Ventures have confirmed that they will be the strategic partner for the Pioneer programme for the second year running. This partnership will see them offer up to £135,000 split between two outstanding Pioneers, as well as dedicated access to BP’s facilities and expertise.
David Millar, TechX Director said: “The first year of the TechX Pioneer programme was a huge success with our cohort of 10 exciting start-ups. This year we have enjoyed taking the programme on the road to highlight the amazing progress our first Pioneers have made and to talk about the exciting prospect on offer. We are now on the hunt for our next 10 exciting Pioneers to join us in 2019. The Aberdeen roadshow was a great closing session – we had a full-house of enthusiastic entrepreneurs who came to find out more about the programme and to talk to Rotimi and the TechX team.”
Rotimi Alabi of RAB-Microfluidics R&D Company said: “The TechX Pioneer Programme was an incredible opportunity for our business that provided us with opportunities, including funding and direct access to our market that we wouldn’t have achieved, certainly in the time frame, without the support of TechX and The Oil & Gas Technology Centre. The 16-week programme covered an immense amount and since we graduated, new opportunities are already presenting themselves. I very much enjoyed meeting with other tech developers in Aberdeen and encouraged them to apply this year.”
Applications for the 2019 TechX Pioneers programme are now open and will close on January 31, 2019. To apply click here.