A global business consultancy is partnering with a specialist net zero accelerator to boost the number of startups in the green tech sector.
Accenture will provide support and tutoring to startups on the Net Zero Technology Centre’s (NZTC) TechX scheme, helping them to refine their business model and value proposition, while applying insights from an enhanced investor-readiness programme.
Strategic partners bp and Equinor will also be on hand to offer the participants access to technology experts and the potential for investment opportunities and field trials.
The TechX Accelerator is set to launch in early 2022, having held an open call for applications from an “innovative and diverse” group of startups in autumn.
The upcoming cohort is the first in which TechX has fully focused on startups developing clean energy technologies to help accelerate the transition to a net zero energy industry. With over 200 applications submitted, the programme will announce its fourth cohort in February 2022.
To date, £4.7 million has been co-invested into 33 technology startups, which have all successfully graduated from the 15-week accelerator. Over £15m of further investment has been secured by TechX’s alumni, with five companies having since commercialised.
TechX director Mark Anderson said: “We are delighted to be partnering with Accenture, and to have secured bp and Equinor’s continued support. Our partners allow us to harness their passion for entrepreneurship and innovation, and in doing so, enhance our programme which offers extensive support to budding startups with great potential.
“With over 200 applications, I’m excited to see our fourth cohort of clean energy startups emerge and the solutions they can offer to help us close the technology gap and accelerate a net zero future.”
Neil O’Brien, a managing director and lead for Accenture’s Energy, Chemicals and Natural Resources business in the United Kingdom and Ireland, said: “With the energy transition gaining pace year on year, we’re delighted to collaborate on the TechX Clean Energy Accelerator programme.
“It reaffirms our commitment to hasten towards a cleaner, more just and more efficient energy system by leveraging technology and innovation to create business value and sustainable impact. It also enables us to collaborate in new ways with the energy ecosystem participants at a time when the energy industry is facing both substantial disruption as well as new opportunities.”
Nick Kendall, investment associate at bp ventures, added: ‘’Innovation and technology are fundamental to achieving net zero, and bp is delighted to continue to support TechX. The programme will now focus solely on clean energy startups, aligning with bp’s net zero ambition.
“We value our long standing and successful relationship with the Net Zero Technology Centre and TechX, and welcome the collaboration with other partners. I’m excited that bp will play a key role in the acceleration and growth of this year’s clean energy start-ups in areas such as hydrogen, CCUS and oil and gas emissions reduction.”