Norway strikes back!

We are thrilled to announce and welcome the 2019 class of Techstars Energy in Partnership with Equinor. Techstars Energy will kick-off September 9th inside Equinor offices in Oslo with our Demo-day on December 5th. 

Techstars Energy brings together four very strong networks – Equinor, Kongsberg, CapGemini and Techstars – and our one and only goal is to support and grow these ten incredible companies. Techstars is the worldwide network that helps entrepreneurs succeed. Our 1,900 portfolio companies have raised over $8 billion in capital, with 86% of our portfolio companies remaining active or having been acquired. Together, Equinor, Kongsberg, Capgemini and Techstars create an unfair advantage for founders and give them the best chance for success.

In February 2019, we started a world-wide recruitment trip that brought me around the world looking for world-class talent. I believe we found it. In addition to being selective, Techstars Energy is global and diverse. Entrepreneurs from Canada, the UK, Norway, Germany and Brazil will spend 3 months inside Equinor stunning office in Oslo. They were selected from a strong global applicant pool from 42 countries focused around energy in a broad context. 

3 of the 10 companies are Norwegian, a real validation that Norway also see the value of having the world’s most powerful entrepreneurial network in their backyard.

I would like to thank our mentors, sponsors, partners and alumni for their generous support in this process. Special thanks to Equinor, Kongsberg and Capgemini for their true commitment to the success of Techstars Energy. Go team Techstars Energy!

Without further ado, here are the Techstars Energy companies:

Fieldmade

Fieldmade are increasing readiness through spare parts on demand.

fieldmade.no

Fuelsave

Fuelsave is helping customers to save fuel consumption with at least 10% net OPEX savings while reducing environmental impact with next generation fuel efficiency enhancements.

fuelsave-global.com

GamY

GamY increases the lifetime value of any battery operated device through managing battery performance with their digital twin management solution. 

gamyworks.com

Navarra Tech

Navarra Tech provide the first centralised over-the-counter trading platform for energy traders in emerging markets.

navarratech.com

RagnaRock Geo

RagnaRock Geo’s machine learning exploration software enables quick and accurate understanding of the subsurface, with greater workflow efficiency for geoscientists.

ragnarockgeo.com 

Salient Energy

Salient Energy are improving energy storage with 

safer, longer-lasting and less expensive batteries.

salientenergy.ca

SeeO2 Energy

SeeO2 Energy converts CO2 into high value fuels and chemicals in a net negative carbon process.

seeo2energy.com

Tempus Energy

Tempus Energy improve financial and carbon savings by managing and optimising flexible electricity demand, through connecting directly into customer premises. They enhance renewable energy supply and bypasses the reliance on carbon-intensive power stations, solving the intermittency challenge of renewable energy.

tempusenergy.com

Terrapin Geothermics


Terrapin Geothermics are heat to value project developers. They write cheques for waste heat and are going after the 290,000 petajoules of energy lost every year. A single petajoule could heat & power a normal home for over 12,000 years.

terrapingeo.com

VesselAdmin

VesselAdmin are bringing digital tools to the vessel chartering industry.

vesseladmin.com








Incumbent and Insurgent: Adding Value Together

Today, global energy corporation Equinor and startup Crux OCM are working together to test Crux OCM’s software, which functions as an “autopilot” for oil and gas control room operators. It’s early days yet, but if the Crux OCM solution works and scales, it will lead to efficiencies, cost savings, and new revenue opportunities for Equinor.

This sounds like a pipe dream: a startup and a large corporation partnering to give the startup a first user to test their idea and the corporation the kind of solution that would have taken years to develop internally.

In reality, this kind of partnership can be a rapid win-win, but only if approached the right way. Startups and large corporations think and work incredibly differently—and too often, great ideas get lost in translation. The first hurdle is identifying startup founders with deep domain knowledge who are at the top of their game.

Identifying the Stellar Startups

“We did not really know what we were getting into,” said Jens Festervoll, corporate liaison for the Techstars Energy Accelerator in Partnership with Equinor. “Equinor is a global energy company and wanted to partner with an accelerator company that had a reach into global startup ecosystems and a reputation for attracting top talent.” They were hoping to identify and work with truly stellar startups with products or solutions that could make a real difference to Equinor, and to inject a dose of startup culture into the company—but they also knew that working with startups would bring special challenges for a large corporation like Equinor. And so an accelerator was born.

From the moment she heard about the Techstars Energy Accelerator in Partnership with Equinor, Crux OCM founder Vicki Knott knew she wanted in. “The same day applications opened, the founder of Crux OCM hunted me down,” said Audun Abelsnes, managing director of the program. “Vicki’s real obsession for a niche problem like increasing the volumetric throughput of pipelines appealed to me. Techstars backs exceptional founders, and I immediately felt there was something special about Vicki.” Crux OCM indeed proved to be an exceptional startup, with a great team that was ready to #domorefaster.

The Startup Culture Injection

But Vicki did have some hesitations: “We were worried that the experience would be the same as all of our interactions with large corporations up to that point—that progress would be so slow we would not be able to determine and secure a trial opportunity within the three months of the accelerator.”

It’s true that corporations and startups work at different speeds, and this can cause friction. “The speed and sense of urgency is just totally different between a energy major like Equinor and any startup,” said Audun. Fortunately, Audun is also positioned to help ease this tension. “I have unique access to senior management in Equinor that can help and push the needle forward if necessary.” He gave Equinor the tools and methodologies to build trust with the startups in the program, creating strong channels of communication and overcoming cultural barriers.

For Equinor’s part, Jens reflected that he and his colleagues “appreciated the speed at which these startups expect things to happen, and the fact that we do not work that quickly.” But the Equinor people who mentored the startups in this program—giving their time and attention on a regular basis, week after week—found that they were changed by the experience. Nearly 80% of these mentors said that they would work differently in the future, with more agility. That taste of startup culture let them see ways to bring elements of it into their working lives, making them both more efficient and more engaged.

“We need this cultural change,” said Jens.

The Measurable Power of Mentorship

Techstars not only brought startup speed to Equinor—mentors also got first hand experience with the Techstars value Give First. This means helping others whenever possible, without expectation of a transactional return. It is the essence of mentoring. “The Equinor staff was so welcoming and open to the Techstars companies,” Vicki said. “All individuals in the organization did their very best to help us and fully embraced the Techstars #GiveFirst mantra.”

Going into the program, Crux OCM saw their technology as a solution for oil pipelines. Equinor mentors like Jofrid Klokkehaug, VP of operations and maintenance, and Ulrik Olbjørn, the digital lead for Equinor onshore, helped Vicki realize that she could expand this vision. The software was just as applicable to the 5000 miles (8000 km) of integrated gas pipelines and facilities on the Norwegian continental shelf. Thanks to this insight, Crux OCM had a great new market to attack—and Equnior had a potential solution to a problem.

That’s the beauty of Give First—you always do get something back. You just don’t know what or when it will be. In this case, the benefits for Equnior came quickly: “Crux OCM will test their solution on a small Unit at our Snøhvit LNG facility as a first user,” said Jens. “If the tech works, then there is an opportunity to scale to more complex systems, adding more value.”  

A Win-Win Times Six

With this accelerator, the company was looking to “improve Equinor’s ability to innovate and drive change,” said Jens. Less than a year after the first class of the program, Equinor is seeing gratifying results.

They’ve experienced the high quality of Techstars startups, overcome cultural barriers that made trust and communication difficult, and infused some of that energizing startup culture into their corporate culture—and these are just the intangible successes. Crux OCM is one of six startups from the program that are exploring potential solutions with Equinor. That’s a win-win times six—and a very measurable, and speedy, path to creating value.

Register to attend Techstars AMA “Five Steps to Building a Successful Corporate – Startup Relationship” on 4/3/19 @ 3PM EST








Q4 2019 Applications Now Open

Techstars, the worldwide network that helps entrepreneurs succeed, today announced that applications are now open for 2019’s Q4 mentorship-driven accelerator programs. These programs that are officially receiving applications:

These nine programs include three new accelerators that will be celebrating their inaugural classes in 2019. The Heritage Group Accelerator Powered by Techstars is digging into technologies across construction, materials, environmental and recycling, and energy and refining. The UnitedHealthcare Accelerator Powered by Techstars is focusing on health care innovations supporting payer and care provider efforts. The EPS MaritimeTech Accelerator powered by Techstars is geared towards technologies with applications to the maritime industry including regulations, fuel efficiency, vessel operations, digitalization, and navigation. Together with our corporate partners, we can’t wait to find the first Techstars classes of startups that are going to transform these industries.

Barclays Accelerator, Powered by Techstars heads into its fifth year of program having achieved amazing success, with notable alumni such as RealBlocks, Sigma Ratings and Novo. Alexa Accelerator, powered by Techstars is going into its third year of program looking for the next class of companies focused on voice technology innovation. Colliers Proptech Accelerator Powered by Techstars, Techstars Energy Accelerator in Partnership with Equinor, Techstars Montreal AI Accelerator and Techstars Paris Accelerator are all gearing up for their second year of program after strong performances in 2018—the companies from these classes are securing funding rounds and growing fast.

Techstars mentorship-driven accelerator programs attract the best startups and founders, who then #DoMoreFaster—participants often say that they accomplish more in the three months of the program than they would in a year and a half, working on their own. We’re proud of our record of success: check our our top 50 Techstars alumni companies and their funding raised to date. Of the nearly 1600 companies that have come through our accelerator program, nearly 90% are active or have been acquired, and between them they have raised over $6.5 billion!

Our alumni entrepreneurs agree that the Techstars experience has been essential to their success: watch these founders talk about exactly how we helped them grow.

We’re looking forward to meeting our next classes of rising entrepreneurs. Interested in learning more? Tell us more about you and your company here or apply now to our open programs.








The Energetic Results of Techstars Energy in Partnership with Equinor

Photo Credit: Ole Jørgen Bratland/Equinor

In a January 2019 Forbes article, I mentioned that “Energy is one of the biggest investment opportunities on the planet today, but it is also hard to break into the massive global energy companies for a startup.” It is the breaking into of these massive companies that  we focus hard on in Techstars Energy in Partnership with Equinor. It’s fair to say it worked well for our 2018 class—and now we’re looking for a second class to do it again!

The inaugural 2018 class of Techstars Energy in Partnership with Equinor represented a broad range of technologies: from electrical airplanes and conversion of C02, all the way to smart cement and nanofluidic platforms for increased recovery of oil, to SaaS platforms developing large scale solar plants, and much more. In the end, we had applicants from 38 countries, we set up 1,150 individual mentor-meetings between the 10 companies and our 120+ mentors, and most importantly, more than half of our companies announced on Demo Day that they were moving forward in working with our corporate partners at Equinor and Kongsberg. In all, it was a very busy, but very rewarding three months!

I track this success back to the fact that we select outstanding teams to be part of Techstars Energy. More than 50% of the companies were already above 10 employees upon acceptance to the program, and several had raised over $1M before joining us. Our two corporate partners, Equinor and Kongsberg, were also key to these great results. One of the big benefits that this program offers founders is unprecedented access into the highest levels of these organizations. They are here to help Techstars entrepreneurs navigate the global energy space—and they do so with great insight and energy (no pun intended).

With applications open for the 2019 class, my expectations are high. The pressure is on to deliver an even better result this year. (I am a founder myself and I love the pressure and hustle, don’t you?)

Solving Global Energy Problems

All that said, we are thrilled to announce that applications are now open for year two of Techstars Energy in Partnership with Equinor!  

This year, we are excited to work with companies building tech enabled businesses, software, or hardware: we want companies focused on solving global energy problems with global potential.

We will continue to have a broad energy scope in focus. Companies working with renewables, oil & gas, digitalization, and new business models are encouraged to apply. Ultimately, we want to work with great entrepreneurs from diverse backgrounds that are working on world-changing ideas. While not a complete list, here are our broad areas of focus for 2019 Techstars Energy in Partnership with Equinor:

Renewables

Wind power, battery and storage solutions, distributed power, energy efficiency solutions…The list here is never ending.

Oil & Gas Technologies

This area is obvious for an energy major like Equinor. Getting hydrocarbons out of the ground more efficiently with less environmental impact is of natural interest.

Digitalization

The energy sector is fast becoming digital, and the areas of interest are as wide as this category’s name implies. Every enabling technology that makes an energy company more efficient and enables new ways of working is interesting.

New Business Models

Surprise us, and show us your tech can help build energy platforms for the future.

Platforms as Enablers

Energy is a massive industry with massive investments and massive opportunities for the right company. There are a variety of platforms and areas that may not be energy specific but can be leveraged by an energy major like Equinor and Kongsberg. Examples include: Robotics, Financial modeling, Energy Trading, AI / ML applications, Predictive Modeling, Cyber security, Blockchain solutions, and Safety.

Join Us for 2019!

We want to create the energy platforms of the future. We’re looking to be blown away by unique concepts. If you have a great team and a big vision, we want to hear from you.  

2019 Techstars Energy in Partnership with Equinor will start in beautiful Oslo, Norway on September 9, 2019. Right now, we are on a worldwide tour to meet founders who are solving real problems for the global energy sector. Applications close May 13, 2019, and we’ll be making our final selections in June. Be sure to watch this webinar to learn more about the program. You can also request office hours—one-on-one time with program staff to share details of what you’re working on and learn more about Techstars Energy in Partnership with Equinor. Or, if you’re ready, start your application now.








Announcing the First Class of the Techstars Energy Accelerator in Partnership with Equinor

We are thrilled to announce and welcome the first ten companies to Techstars Class 148, the Techstars Energy Accelerator in Partnership with Equinor. Techstars Energy will kick-off September 10th inside Equinor offices in Oslo with our Demo-day on December 5th.

Techstars Energy brings together four very strong networks, Equinor, Kongsberg, McKinsey and Techstars. Our one and only goal is to support and grow these ten incredible companies. Techstars is the worldwide network that helps entrepreneurs succeed – their 1550 portfolio companies have raised over $5 billion in capital and 145 have had been acquired. Together, Equinor, Kongsberg, Mckinsey and Techstars create an unfair advantage for founders and give them the best chance for success.

From Left to Right: Jens Festervoll (Equinor), Audun Abelsnes (Techstars), Eldar Sætre (CEO, Equinor) & Alex Karevoll (Techstars)

In February 2018, I started a worldwide search that brought me to Singapore, New Delhi, Bangalore, Madrid, Copenhagen, Paris, London, NYC, Boston, San Francisco, New Orleans and Houston looking for world-class talent. I believe we found it. In addition to being selective, Techstars Energy is global and diverse. Entrepreneurs from Canada, UK, Spain, Denmark, Norway and the USA will spend three months inside Equinor’s stunning office in Oslo. They were selected from a strong global applicant pool focused around energy in a broad context.

I would like to thank our mentors, sponsors, partners and alumni for their generous support in this process. Special thanks to Equinor, Kongsberg and McKinsey for their true commitment to the success of Techstars Energy. Go team Techstars Energy!

Without further ado, here are the Techstars Energy companies:

Interface Fluidics

Interface Fluidics’ proprietary nanofluidic platform provides rapid lab testing that empowers the energy industry to understand how their chemicals perform, 100x faster and with more detail.

Ampaire

Ampaire is making flying accessible to more people from more airports by building electric aircraft that are greener, quieter, and less costly to operate.

Crux OCM

Crux OCM utilizes AI and real-time optimization to enable semi-autonomous operation of pipelines, reducing the risk of operation and increasing volumetric throughput up to 4%

DeepStream

The tech enabled tendering and supplier pre-qualification platform for oil & gas businesses.

Sensytec

Sensytec is developing a smart cement technology based on a proprietary additive to help companies enhance cement integrity by monitoring cement conditions near real-time.

Versor

Versor makes drone autonomy software for end-to-end infrastructure inspections, enabling AI-driven data capture and automatic fault detection across industrial applications.

Voyager

Voyager is a cloud-based data hub helping the commodity shipping industry enhance decision making, automate processes and connect systems.

SafeEx

SafeEx’s software digitizes inspection and maintenance and saves their customers 25-40% on manpower.

RatedPower

RatedPower provides pvDesign, a cloud-based software to design large-scale solar power plants worldwide, in just a few minutes.

Opus 12

Converting CO2 into fuel and valuable products, the technology will contain the CO2 converting power of 37.000 trees in the volume of a suitcase.








AMA: Techstars Energy – 9am CET

https://www.crowdcast.io/e/energy2_mar19








AMA: Techstars Energy – 5pm CET

https://www.crowdcast.io/e/energy1_mar19








Techstars in Madrid – Top Fundraising Mistakes Your Startup Should Avoid

Are you ready to accelerate your company? We currently have applications open for Techstars Mentorship-Driven Accelerator programs around the world. Please join Audun Abelsnes, Techstars Energy Managing Director from Oslo, Marko Srsan, Techstars London Program Manager and Jose Iglesias, EMEA Director for Techstars Startup Programs for an evening of networking at Campus Madrid in Madrid. Audun and Marko will be there to meet you, Marko will do a ‘Fundraising Fu*kups’ presentation, answer your questions and tell you more about our programs.

Office Hours will be held throughout the day before the session. If you’re interested in the Techstars London program, please request office hours here: http://bit.ly/TechstarsLondon2018OfficeHours

At Techstars, we are on a mission to help entrepreneurs succeed. Over the past 10 years we have helped over 1,200 companies grow and raise over $4 billion in funding, with a market cap of $80 billion. Now we’re on a search for the next wave of companies to join our worldwide network!

We are looking forward to seeing you!








Techstars Roadshow: Lisbon

Are you ready to accelerate your company? We currently have applications open for Techstars Mentorship-Driven Accelerator programs around the world. Please join Audun Abelsnes, Techstars Energy Managing Director from Oslo and Marko Srsan, Techstars London Program Manger, for an evening of networking at Campus Madrid in Madrid. Audun and Marko will be there to meet you, Marko will do a ‘Fundraising Fu*kups’ presentation, answer your questions and tell you more about our programs.

Office Hours will be held throughout the day before the session. If you’re interested in the Techstars London program, please request office hours here: http://bit.ly/TechstarsLondon2018OfficeHours

At Techstars, we are on a mission to help entrepreneurs succeed. Over the past 10 years we have helped over 1,200 companies grow and raise over $4 billion in funding, with a market cap of $10 billion. Now we’re on a search for the next wave of companies to join our worldwide network!

We are looking forward to seeing you!








Five Global Techstars Programs Open Applications

Now Accepting Applications to Five Techstars Accelerator Programs Around the World

Techstars has opened applications for five more mentorship-driven accelerator programs in Berlin, New York City, Oslo, Paris and Toronto. Don’t miss your opportunity to grow your business– join the Techstars worldwide network with more than 10,000 mentors, partners, investors and founders. Take the next step and apply now.

The following programs are now accepting applications:  

Three Months, 1,500+ Mentors and a Network That Lasts a Lifetime

The Schedule:

  • Applications Open: February 19, 2018
  • Application Deadline: May 13, 2018
  • Programs Start: September 10, 2018
  • Demo Days: December 5, 2018

Applications are still open for 17 other Techstars global accelerator programs. See the full list here.

Have More Questions? Meet the People who Make it Happen.

Techstars managing directors want to meet you. They’re on the road hosting information sessions and office hours. Here’s a list of all the stops on the Techstars Roadshow where you can sign up for in-person meetings and interactive, online Q&A programming to learn more about specific programs.