Houston energy company opens applications for unique energy tech startup pilot program

Houston-based NOV is launching a new growth-stage startup accelerator focused on the upstream oil and gas industry.

NOV, a provider of oil and gas drilling and production operations equipment, has announced the new NOV Supernova Accelerator in collaboration with VentureBuilder, a consulting firm, investor and accelerator program operator led by Houston-based Innovator Group.

Applications for the program are being accepted online, with the deadline to apply being July 7. Specifically, NOV is looking for companies working on data management and analytics, operational efficiency, HSE monitoring, predictive maintenance and digital twin solutions.

The five-month program will begin with a paid pilot program to build critical relationships between NOV and the 20 selected startups.

“This is not a traditional startup accelerator. This is often an initial client relationship to help disruptive startups improve product-market fit and creatively solve pressing enterprise problems,” the program's website says.

Selected startups will have direct access to NOV’s team and resources: The program requires companies to spend one week each month in person at NOV’s headquarters in Houston to receive support on several topics, including go-to-market strategies, practicing presentations, and more.

“The NOV Supernova Accelerator offers a strategic approach where companies work with startups in a vendor-client relationship to address specific business needs,” Billy Grundy, general partner at VentureBuilder.vc, said in a statement. “Unlike mergers and acquisitions, the venture-client model allows companies like NOV to rapidly test and implement new technologies without committing to an acquisition or risking significant investments.”

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This article originally appeared on Energy Capital.

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