The Houston Technology Center (HTC) and the Society of Petroleum Engineers – Gulf Coast Section (SPE-GCS) are collaborating to promote the development and commercialization of technology developed by SPE-GCS members through SPE-GCS’s Ideas Launch Pad program to support upstream oil and gas innovation and entrepreneurs.
The program provides SPE-GCS members, particularly those in transition, the opportunity to develop their entrepreneurial ideas with professional guidance and mentorship, consistent with HTC’s mission to enable and accelerate the growth of emerging technology companies for the purpose of creating jobs and promoting economic development in the greater Houston area.
SPE-GCS will screen business ideas submitted by their membership, and select ideas that meet the criteria to apply for HTC’s client acceleration program. Each Applicant to HTC’s Acceleration program will be coached by HTC’s Energy Acceleration Director and volunteer Energy Advisors and present their business idea to HTC’s Energy Champions Committee for feedback and advice. Applicants selected for the HTC Client Acceleration Program will receive individualized guidance and mentorship to develop and execute business strategies to meet their goals. The HTC incubation process is aimed at the securing of angel and/or VC funding. Clients of HTC are also eligible to apply for additional one-time funding of US$25,000 from the McNair Foundation. Since launching earlier this year, four Ideas are in the process of screening with the HTC.
Dr. Ivor R. Ellul, chairman of SPE GCS, commented: “We are excited to partner with the HTC, which will provide an excellent venue for energy entrepreneurs to pursue their dream of launching a commercial venture.”
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