SparkLabs Energy is a joint venture between Petroleum Development Oman, Oman's National Oil Company, Phaze Ventures, Oman’s first private venture capital fund and SparkLabs Global, one of the world’s biggest network of business incubator programs.
Our Mission at SparkLabs Energy is to identify and scale technology startups solving strategic challenges within the energy and logistics sectors. We add value to our participating startups through piloting opportunities with our corporate partners, seed stage investments, and through our strong network of financiers, advisors and corporates.
Since 2018, we screened over 1000+ startups from across the globe, and successfully accelerated 13 companies over 2 cohorts.
For our Cohort 3 (2020 - 2021) we are seeking seed stage startups building software solutions and services that could disrupt the status quo within the energy and logistics sectors. In particular we are interested in startups and leveraging:
- Big Data and Data Science
- Industrial Internet of Things
- Artificial Intelligence / Machine Learning
- Blockchain / Novel Security Methods
We prefer startups that have workable product that can be piloted and deployed with our corporate partner during the program.
We are also location agnostic as you do not need to be in Oman for the entirety of the program - just long enough to establish your pilot project with one of our corporate partners (please read up on PDO and OQ). Startups should also be in seed stage and seeking funding within the next year.
Cohort 2 (2019-2020) consisted of 7 startups disrupting seismic acquisition, data processing, enhanced oil recovery and talent development. Their technologies have the potential to increase our production, reduce our carbon footprint, save our water, and prepare us for the energy transition.
Opportunity to partner with one of the largest exploration and production company in the region, Petroleum Development Oman (PDO). It accounts for about 70% of the Oman’s crude oil production and nearly all of its natural gas supply. By joining the Spark Labs Energy accelerator you will have access to PDO as a live test-bed for prototyping, in various ways whether it be in the oil fields or with PDO assets.
In additon, SparkLabs Energy invests in seed stage rounds of up to $250,000. We also have the capacity to invest in follow on rounds when you are ready to scale.
Plus you will benefit from the following…
Your product to be piloted with one of our corporate partners
Bespoke investment of up to $500,000 with flexible deal terms
Support through follow-on funding and corporate deal making
Insights on how to expand operations in the Middle East
Free coworking space
Mentoring from global leaders and experts on how to scale your business and overcome the specific challenges you are facing
Support through navigating local bureaucracy such as company registration, work visas, customs, etc.
Participation in the world-renown SparkLabs Demo Day where you will present your company to an audience of hundreds of international industry professionals and investors
Introductions to key corporate stakeholders and investors
Petroleum Development Oman (PDO)
PDO is the leading exploration and production company in the Sultanate of Oman. We deliver the majority of the country's crude oil production and natural gas supply, but above all we focus on delivering excellence, growth and sustainable value creation within and well beyond our industry. The Company is owned by the Government of Oman (which has a 60% interest), the Shell Group (which has a 34% interest), Total (which has a 4% interest) and Partex (which has a 2% interest). Gas fields and processing plants are operated by PDO exclusively on behalf of the Government.
Phaze Ventures is a platform founded to transform the region by unlocking the untapped potential of our youth, startups and corporates. Phaze Ventures' focus is on enabling innovation ecosystems, through global strategic partnerships, projects and investments.
SparkLabs Group comprises of several different entities that are involved in acceleration, seed stage funding as well as Series A and B funding. SparkLabs accelerators make up one of the largest network of accelerators in the world, including programs in Korea, Australia, China, and Washington D.C.
Oman is not just a land of opportunity for energy. It is a beautiful, peaceful country that has much to offer in culture, cuisine and nature. One could say that Oman is an unknown gem of the Middle East. Its people are kind and welcoming while the landscape is varied and stunning.
With an abundance of natural beauty, from spectacular mountains, wind-blown deserts and a pristine coastline, Oman is the obvious choice for those seeking out the modern face of Arabia while wanting still to sense its ancient soul.
As a winter beach holiday, Muscat tops the wish list of a sophisticated traveller, but Oman is also the go-to place for scuba diving, fossil hunting, desert camps, ancient forts and turtle hatching. Spectacular diversity in landscape translates into myriad possible adventures. All that to say you will have a great work-life balance as you grow your business here in Oman.
As the winter has weather similar to Spain in the Spring and Summer, you will have plenty of time for beach breaks when you need to recover from your intense schedule of workshops, meetings and implementing your product.
Why should we join the accelerator?
We have only an idea. Is it too early to apply?
We have already received some funding. Can we apply?
We don’t need money. Should we apply?
Yes, assuming you will ned funding within the next 3 years. But if you are %100 bootstrapped, then no. We are looking for companies that need investment.
I am by myself and don’t have a team. Can I apply?
Yes. If you’re ‘crushing it’, we won’t worry that you are a sole founder.
Do I have to be based in Oman to setup the accelerator?
Do you cover costs of flight and accommodation?
Not usually. If you need cash for that, we will then negotiate an equity deal, with founder friendly terms, but we sometimes make exceptions for your first visit.
QUESTIONS & CONTACT
For any questions, please contact Zahwah Al-Hosni