The 6-month programme commenced in November 2018, and accepted 6 start-ups for this cohort through an extensive screening process of over 300 start-ups from across the world. Four of the companies are international while two are local to Oman. The international companies cover the US, Canada and the UK. SparkLabs Energy invests up to OMR150,000 in each start-up which enables them to grow while allowing them to share the risk.
Each company was also supported by SparkLabs Energy through mentorship and guidance on how to navigate the Omani business ecosystem.
SparkLabs Energy is a start-up accelerator that came into a creation through a partnership between SparkLabs Global, PDO and Phaze Ventures. SparkLabs Global is Asia’s largest start-up accelerator network and PDO is the national oil and gas company of Oman. Meanwhile Phaze Ventures is Oman’s first private venture capital firm. The partnership was agreed upon through an MoU signed by all three entities.
SparkLabs Energy aims to identify and scale companies solving the future energy needs of the region and the world. Leveraging the unique advantages of Oman, the aim is to create a global centre of excellence in energy technologies and efficiencies.
Phaze Venture was founded to transform the region by unlocking the untapped potential of our youth and to develop the national business ecosystem.
The 6 accepted start-ups are:
Interface Fluidics has a technology that brings the reservoir to the sensory level, so you can better understand, protect and optimize production. You can see, hold and test a living micro-model of your reservoir in real time ("reservoir on a chip"). Additionally, you can understand how fluids behave in exact reservoir conditions and see how fluids interact within reservoir, in real-time.
Sensytec developed a smart cement technology that can be used to optimize the production of oil and gas by avoiding formation failures and other issues during drilling or well cementing by adding their proprietary additives. They provide real- time monitoring of the cement integrity that will help in predicting any potential cracking or failures.
Acoustic Data is a global leader in wireless downhole monitoring solutions that recently closed an US$8m investment from Energy Growth Momentum, to scale its operations and capitalise on increased demand for its proprietary wireless downhole pressure and temperature gauge system. The company’s proprietary SonicGaugeTM System uses next-generation acoustic telemetry to transmit real-time data to surface in order to monitor oil and gas well and reservoir performance across a wide range of applications.
Rihal is an Omani company that specializes in big data and information management. The company's goal is to build software with built-in tools that can be used for wider applications in big data analytics.
eMushrif is an Omani company that transforms ordinary school buses to smart buses, ensuring children safety. It offers an IoT solution with 4 levels of safety checks. They have protected over 400 buses in 50 different schools around Oman.
Voyager is a multi-party collaboration and workflow management solution for the maritime value chain. In other words, a cloud-based data hub helping the commodity shipping industry enhance decision making, automate processes and connect systems.
Source Link: timesofoman.com