The OGTC launched the competition for their industry accelerator TechX aimed at SMEs bringing new technology to the oil & gas industry.
Sensalytx entered the TechX Pioneer accelerator competition with 125 other companies from around the world and won a place on the first cohort of 10 companies.
Selected by a panel of industry experts and academia following a pitch and question session, Sensalytx are looking forward to the boost that the support of the OGTC and partners will make to the business.
Each Pioneer will receive £25,000 seed funding to help develop their business and enhance the technology through our intense 16-week programme, which starts at the Oil & Gas Technology Centre in June 2018.Up to £75,000 in additional funding is available during the 16 weeks and upon graduation, Pioneers will be transferred into a 12-month incubator called TechX+. Two companies with the most exciting potential also have the opportunity of a further £100,000 funding from BP.
David Millar, TechX Director, the Oil & Gas Technology Centre said:
“We were blown away by the technology ideas presented and now have 10 ambitious start-ups with us that want to change the world! I’m sure these first Pioneers will set a benchmark in technology development that positions TechX as the leading accelerator for companies hoping to break into the oil and gas industry.
“TechX represents a significant opportunity to develop a new technology supply chain in the North East of Scotland and it anchors it here for generations to come. We are delighted to have our first Pioneers on board and look forward to working with them to help develop their business and exciting new solutions for the industry.”