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Middle East energy accelerator launches

Energy accelerator offers access to a global network of entrepreneurs, venture capitalists, angel investors and executives

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The plan is to develop Oman as a global future energy technology hub
The plan is to develop Oman as a global future energy technology hub

Global venture and accelerator group, SparkLabs, has partnered with Petroleum Development Oman (PDO) and a consortium of energy companies to launch an accelerator focused on energy technology in the region.

 

The move is part of an initiative to develop Oman as a global future energy technology hub where the aim is to identify and scale companies and solutions solving the future energy needs of the region and the world.

 

PDO is the leading energy exploration and production company in the Sultanate of Oman (owned by the government); the rest of the consortium comprises Shell Group, Total and Partex, and Phaze Ventures, an investment and innovation platform founded to accelerate the transformation of the Gulf region to a post-oil economy.

 

SparkLabs’ energy accelerator offers access to a global network of entrepreneurs, venture capitalists, angel investors and executives, as well as the opportunity to test the viability of early solutions within the real-world setting of PDO’s operations.

 

“Renewable energy presents an enormous opportunity for Oman. PDO is committed to playing its full part in helping to position the Sultanate as a regional leader and to develop the nation as a renewable energy centre of excellence and technology hub,” said Raoul Restucci, managing director, PDO.

 

“We are already incorporating solar renewable energy in our operations and working closely with both academia and industry to promote, identify, develop and proficiently deploy key innovations and enablers.”

 

PDO said it is keen to provide a platform that attracts entrepreneurs from Oman as well as internationally to support knowledge transfer between start-ups, corporate partners and government alike.

 

“We specifically designed the Sparklabs Energy programme with PDO and Phaze Ventures to benefit from Oman’s drive to become a leading global technology hub for future energy needs and efficiencies,” added Eugene Kim, SparkLabs accelerator partner.

 

“We are looking forward to develop Oman’s best energy start-ups, together with bringing some of the world’s most impactful early stage energy startups to the region, thereby generating a flow of information and innovation between start-ups, corporates and governments that will help transform the region’s energy sector.”

 

SparkLabs is the largest Pan-Asia accelerator group, with accelerators in Korea, China, Taiwan, Hong Kong and Australia.

 

The SparkLabs energy programme is based in Muscat, Oman, and the first class is scheduled to begin in October 2018; applications will begin in May 2018 with selection expected to be finalised by July 2018.

 

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