NEWS

Statoil is partnering with Techstars to create a global accelerator program for innovators and entrepreneurs who aspire to shape the future of energy.

Techstars will reach out through its global network to identify, recruit, and select the world’s ten most promising energy innovators and entrepreneurs to participate in the Techstars Energy Accelerator.

Each of the selected companies will receive an initial funding of $120,000 to support compressing two years of development work into 13 weeks.

The program will be run in partnership with Statoil and hosted in Oslo with close access to Norway’s world-class energy technology industry. The innovators will be mentored by a global network of experts from Statoil, Techstars and other companies.

The accelerator program is part of Statoil’s innovation efforts, and will provide Statoil with an opportunity to explore new ideas and technologies for concrete business challenges together with entrepreneurs and innovators in a new way. In addition, Statoil will have the option to invest in selected innovators through its venture capital entities.

Statoil and Techstars plan to announce main theme for the program in November 2017 and open the application process in February 2018. The first Techstars Energy Accelerator program in partnership with Statoil will start in the second half of 2018.