f3nice CEO Luisa Mondora and Interface Fluidics CEO & Co-founder Stuart Kinnear (L to R)
Like all Techstars programs, the Equinor & Techstars Energy Accelerator is a mentorship-driven program but with a twist - it takes place inside an energy major and receives full-time support from a team of Capgemini consultants!
After three cohorts since 2018, we are now recruiting startups for the 2022 program.
At this moment, the 2018 class is valued above $350M USD and we expect many great outcomes from the teams, technologies, processes and progress which all three cohorts have in the making.
One key aspect of this program however, is the opportunity to work with Equinor, who are keen to validate implementation with all Techstars companies. Some of our alumni have been successful on this front and we have recently interviewed a couple of those alumni on that experience, namely Interface Fluidics and f3nice.
Calgary-based oil field laboratory technology company, Interface Fluidics leverages technology from the biomedical industry, adapting it to the oil and gas sector. Their technology shows how fluids behave underground and provide critical information to the energy industry.
Italian start-up f3nice provides cross-cutting competencies for additive manufacturing, also known as 3D printing. Metal 3D printing is a pillar of the industry, and it is developing the future of manufacturing. f3nice has a process of using 100% recycled metal scrap and by doing this they are able to achieve 90% CO2 savings!
The Equinor & Techstars Energy Accelerator program experience
The Equinor & Techstars Energy Accelerator program was valuable because it opens eyes up to how big the world is and helps start-ups get matured significantly. “Techstars has brought diversity to the table. Most of the accelerators focus on local networks but that's not the purpose of Techstars, it focuses on the global network.” - says Stuart Kinnear CEO & Co-founder, Interface Fluidics.
f3nice applied to the Equinor & Techstars Energy Accelerator program 2021 with the goal to interact with Equinor. Despite challenges with Covid-19, the program was successfully held remotely and it was easy for everyone to connect with each other virtually and connecting with each other was still the best part of the program.
Equinor Venture's support to the alumni
Equinor Ventures & Interface Fluidics have developed a partnership focused on building and developing an alternative to traditional laboratory technology. Equinor has the technical know-how and length of resources, On the other hand, Interface Fluidics is displaying a high standard of measurements. “Our goal is to make it easier to get the information our customers need in order to meet global energy demand while also improving ESG performance.” - Says Stuart Kinnear CEO & Co-founder, Interface Fluidics.
Equinor has seen Interface Fluidics’ development and commercialization with a number of products and this traction has helped the trust on both sides of the partnership, which is essential for collaboration.
Equinor is a huge energy company, and sometimes it's difficult to navigate if a start-up comes into the program without knowing what can and cannot be done in the Equinor environment. “But if a startup finds the right balance between the 'value they can bring to Equinor' and at the same time 'what Equinor can do for them' then it is a great way of managing expectations.” - says Luisa Mondora CEO, f3nice. It’s all about managing expectations by knowing & communicating what a startup can offer to Equinor and vice versa.
Start-ups are lean and fast - they can make quick decisions and change directions quickly. But that is not the case with huge companies like Equinor and, here comes the 'value of interaction' between startups and a big corporate like Equinor. Capital aside, Equinor has the best resources, skills, assets, and professional network that a B2B startup could have access to at an early stage.
A key message for 2022 applicants
“Patience is the key - Building relationships with your customers/partners and coming with a specific goal will help you immensely during the program.” - Interface Fluidics.
Note: Interface Fluidics actually just announced a second tranche of funding (series B) from Equinor Ventures, following the program.
"Enter into the program with a specific goal. Knowing which area you want to strengthen and your specific asks for Techstars, Equinor and Capgemini will offer you a platter of opportunities and support from these organizations." - f3nice.
Equinor & Techstars Energy Accelerator program 2022
We’re looking for highly ambitious energy founders for the next program. If you have a great team and a big vision, we want to hear from you. If you wish to share details of what you’re working on and to learn more about the Equinor & Techstars Energy Accelerator please click here.
Applications close on December 1st, 2021 so start your application now!
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