Oil and gas company Shell has launched a Singapore-based accelerator called IdeaRefinery that will support energy-related technology startups.
Shell has partnered business consultancy company ImpacTech and National University of Singapore’s NUS Enterprise for the 20-week initiative, which aims to bring early-stage startups to the point where they can raise money and grow into healthy businesses.
Shell is interested in startups working on technology that will have an “energy impact,” and cited energy storage and efficiency, sensor-based energy monitoring, energy transportation and clean energy generation as possible examples.
Startups selected to take part will be provided with free office space, mentorship from Shell executives, access to industry leaders, media coverage and exposure to investors at a final demo day during the corporate’s Make the Future Singapore event in 2018.
The advisory board of IdeaRefinery comprises top Shell executives in Singapore, including Stephen McGrath, the head of its corporate venture capital arm, Shell Technology Ventures.
IdeaRefinery will not invest in the startups or retain any intellectual property developed over the course of the program. Applications to take part in the accelerator are open now to companies registered in Singapore and will close on October 15 this year.