Shell launches #IdeaRefinery to scale energy startups, in partnership with NUS Enterprise and ImpacTech
Sep 22, 2017
A corporate accelerator meets development-sprint programme, #IdeaRefinery provides startups with the tools to commercialise game-changing solutions that will support Singapore in the national energy transition
In partnership with NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS) and business consulting company, ImpacTech, which provides customised acceleration programmes, and supported by the Energy Market Authority, Shell Singapore today launched a call for applications for #IdeaRefinery – its 20-week corporate accelerator programme. #IdeaRefinery aims to help build a vibrant startup ecosystem in new energy solutions, in support of Singapore’s ambition to be a sustainable and smart nation.
The programme focuses on developing early stage energy-related startups into full-fledged enterprises that can raise capital and scale into successful businesses with a strong societal impact.
“Shell is committed to a cleaner energy future, and we believe that a collaborative approach to innovation will accelerate the development and deployment of new ideas. We are pleased to launch #IdeaRefinery, to work with energy-related startups to bring bright energy ideas to the fore,” said Goh Swee Chen, Chairman, Shell Companies in Singapore.
Five Singapore-registered startups will be selected based on their ability to drive a positive energy implication unto society, in areas including but not limited to solutions for generating energy, reducing the demand for energy, using energy smartly, storing energy, producing clean and renewable energy, and transporting energy. The programme curriculum, which combines the benefits of conventional development sprint and accelerator programmes, is designed to help startup founders cement their footing in the business arena, hone their leadership, pitching and marketing skills, and inspire them towards expanding their innovative energy solutions.
Selected startups will be privy to workshops helmed by both Shell and other industry stalwarts such as Stephen McGrath (Head, Shell Technology Ventures, Silicon and APAC), focusing on exercises around business strategies and pitching, branding and marketing, and global trends in renewable energy. They will also have access to an extensive panel of mentors comprising experts with ample business and entrepreneurial skills. Furthermore, startups will be able to access on-site resources at The Hangar by NUS Enterprise – an on-campus base built to nurture homegrown entrepreneurs.
“NUS Enterprise plays a pivotal role in advancing innovation and building the entrepreneur community,” said Dr. Lily Chan, Chief Executive Officer, NUS Enterprise. “We run one of the most comprehensive university-based incubation and acceleration programmes in Singapore. Our partnership with #IdeaRefinery augments our efforts to serve the larger startup community in Singapore. Together with Shell and our partners, we look forward to building a conducive environment where ideas can flourish.”
“At ImpacTech, we look to empower innovative startups that tackle social issues, and resonated with #IdeaRefinery’s aim of propelling startups with meaningful energy ideas. No one startup is the same, so the means through which they develop and scale also has to be tailored – this is what ImpacTech brings to the #IdeaRefinery programme, through curated and personalised workshops that each startup will be able to access,” said Ms. Kineret Karin and Mr. Yoav Elgrichi, Founders, ImpacTech.
Registrations for #IdeaRefinery will close on 15 October, with the five selected startups announced in end October 2017. The programme will culminate in a Demo Day at Make the Future Singapore 2018, Shell’s global festival of ideas and innovation – where startups will present their ideas to an audience comprising business leaders, government officials, academia, Shell business partners and venture capitalists.
Edelman for Shell
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Notes to Editors:
About Shell #IdeaRefinery
In partnership with ImpacTech and NUS Enterprise, Shell presents #IdeaRefinery, a 20-week accelerator programme that focuses on developing early stage energy-related startups into full-fledged startups that can raise capital and scale into successful businesses.
Over the course of four months from November 2017 to March 2018, five selected startups will receive mentorship from Shell and industry leaders, absorbing industry insights imparted by them. At the end of the programme, the startups will showcase their enterprise during Demo Day in 2018’s edition of Make the Future Singapore, Shell’s global festival of ideas and innovation.
Royal Dutch Shell plc
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