Hydromea won a coveted spot in a leading and prestigious offshore energy accelerator TechX, run by the Oil & Gas Technology Centre. The focus of the program is on innovations that support the industry to maximise economic recovery and the transition to a low carbon economy.
Nearly 200 applications from over 35 countries were fighting for the chance to become Pioneers. The final 16 companies successfully battled it out in front of industry judges who awarded 10 places for this year’s cohort, starting in May. Each of the lucky start-ups get up to £100,000 to develop their business and technology as part of an intensive 16-week accelerator programme that includes expert mentors, development partners and deep access to the industry.
After graduating, Pioneers have the opportunity to join a 12-month incubator called TechX+, with two companies awarded an additional share in £130,000 funding from strategic partner, BP. All funding is provided with no equity or payback, and intellectual property is retained by the Pioneer – a distinctive approach that sets TechX apart from other global accelerator programmes. More on the program is here: