Equinor & Techstars Energy Accelerator seeks innovative startups within four critical areas of the energy sector: oil and gas, new business models, digitization and renewables. Equinor is a leading energy corporation in Norway, and the program’s physical parts take place in Oslo.
Techstars is a leading startup accelerator that has invested into over 2,100 companies and helped them raise $9.3B since 2007. They run approx. 50 programs every year, each investing into 10 companies.
Their application period for 2020 program is open until 11.10.2020, and the next application period will be open from July to October 2021, for the program that will take place in February 2022.
Techstars acceleration programs include a $20k stipend for running expenses and an optional $100k convertible loan in addition to the programs’ coaching and the network membership, in exchange for a 6% stake in the company (or higher based on the conversion rate on next round).
Techstars Ventures also does follow-on investments into their best performing portfolio companies, having co-led an investment round with Equinor of €4M. Many other funds also invest into Techstars companies.
Ticket size: €18k-€105k, maximum allocation with follow-on investments €570k per company