Up to $ 1mln in investments in oil and gas start-up: the All-Russia contest accelerator starts a new admission for oil and gas startups G100k

Up to $ 1mln in investments in oil and gas start-up: the All-Russia contest accelerator starts a new admission for oil and gas startups G100k

In the 2017/18 season the project expanded geography and investment opportunities.

The competition was initiated by North Energy Ventures, funded by RVC, and the Gubkin Russian State University of Oil and Gas with the investment support of Phystech Ventures. The leading private Oil & Gas Tech venture funds and the largest oil and gas university will be joined in the new season by the West Siberian Innovation Center, the technology park and the key innovative infrastructure of Western Siberia located in Tyumen. Regional contest stages are scheduled to take place in Tyumen, Ufa, Tomsk, Kazan and St. Petersburg this year, and the number of teams to receive investment depends only on the quality of projects. The volume of investments in one project will range from $ 100 thousand to $ 1 million. The competition is open to any technology company at any stage which can present developments in the field of enhanced oil recovery, geophysical technologies, mechanized mining as well as big data and industrial Internet of things.

Applications are welcome from November 30, 2017, and the best projects will be selected by venture funds, technology and market experts in late February and accelerated for the final pitch before potential investors and customers in April 2018. The accelerator participants will receive assistance in the initial marketing of their project in the oil and gas market in Russia, the Middle East and Africa, feedback from experts of oil and gas production and oilfield service companies as well as an opportunity to enter into strategic agreements with key market players and receive investment from leading venture funds in the Oil & Gas Tech field.

"Russia is creating an ecosystem for the high-paced and high-quality development of its own high technologies in the oil and gas sector. Today there is a large domestic market with the size of over $ 15 billion, strong engineering school, several successful Russian O&G start-ups on local and global markets. For adequate development we need more investment resources and communication platforms for customers, investors and start-ups. The federal accelerator G100k will provide the missing links to create an ecosystem that will ensure the rapid development of high-tech sector for the key branch of domestic economy," said Danila Shaposhnikov, a partner to North Energy Ventures.

"We meet interesting oil & gas projects in different regions - in Tyumen, Ufa, Kazan, Tomsk. We are pleased that this time g100k has a vast geography. The first success stories and interest for Russian technologies shown by international players are an evidence that Russian technology companies have great potential in both domestic and global markets. Our task is to find and support such promising teams," said Pyotr Lukyanov, managing partner of Phystech Ventures.

"G100k is the opportunity to turn the university into the base for innovators and entrepreneurs. We are glad that it is our university which has initiated the industrial accelerator, and it is no accident - the Gubkin Russian State University of Oil and Gas has always been and remains at the forefront of innovative activity in the oil and gas sector. It is no secret that a small company has difficulties competing in the oil and gas technology market, and we are confident that this accelerator will help many latent teams find their niche in the oil and gas sector. The experience of doing research work as a potential business project is very important for all employees and university students focused on doing business," said Dmitry Zhedyaevsky, Head of the Department of Scientific and Technical Integration of the Strategic Development Directorate of the Gubkin Russian State University of Oil and Gas.

"The G100k oil and gas accelerator is an extraordinary event both for the oil and gas industry of the Tyumen region and in general for the development of the regional innovation ecosystem. From the beginning of its activity, the Tyumen Technopark has been specializing in oil and gas innovations, and thanks to the accelerator, the development of start-ups will reach a completely different level. The Tyumen Industrial University will also undoubtedly take an active part by involving its best students and scientists to the accelerator, the best of whom will be able to prove that Tyumen is today an advanced region in terms of inventions for the basic industry", said Alexander Sakevich, executive director of the West Siberian innovation center.

For more information on the project, please click on the link.

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