How do you make a company like Shell, deeply entrenched in the distribution of fossil fuels by nature, more green? Despite critics commenting “you can’t”, Shell has pushed forward and invested their time and energy into forming a name for themselves in the venture capitalist sphere – as Shell Ventures.
The company focuses on supporting new technologies and disruptive business models with a focus on oil and gas, renewables, new fuels and digital.
We believe there is no challenge too big for innovation. That’s why we’re working alongside Shell to tackle one of the biggest world challenges we face across the globe: energy.
Did you know that within the next twenty years, the world’s energy consumption is expected to increase more than 55%? All is not lost, though, according to the WWF, the globe could get all the power that it requires from renewable energy before 2050 if the right political and societal decisions are made quickly enough.
Both Shell Ventures and Get in the Ring have a deep-rooted belief that there are startups out there with solutions to tackle this very issue. We call these people our heroes. We know they exist – they just need unmasking. Alongside Shell, we are looking for heroes that can help us tackle four major pain-points in the transition to completely sustainable energy consumption.
Those with truly innovative ideas will join the New Energy Challenge and get the chance to pitch to Shell Ventures investment committee and gain world-class coaching and advice from Shell’s core team.
So, what is the motivation behind the challenge? And why should you be interested?
Sticking to their roots: Oil and Gas.
Shell, naturally, has a huge interest in developing their primary function—working in oil and gas. Their customers are at the core of everything they do. Shell want to ensure every customer at Shell has the most efficient, safe and valuable experience when it comes to oil and gas.
To do so, we’re focusing on innovations that improve the safety and efficiency of such processes. We are serious about giving startups opportunities to scale, which is reflected in Shell’s investment in Halfwave Technology in 2017.
Shell took a strong role in not only funding the venture, but mentoring and validating the team’s product by integrating it into their everyday safety and compliance. Their support has led to strong validation in the industry’s eyes, with Halfwave bagging the Technology Innovation Awards at the Offshore Pipeline Technology 2018.
‘Renewable energy’ has become a buzzword lately, and for good reason. Renewable energy produces five times as many jobs as fossil fuels.
We want to explore renewable energy innovations for commercial and industrial customers, both remotely and urbanely. Whether this be in energy use management, generation in wind and solar, distribution or storage.
Of course, Shell Ventures are strong advocates for sustainable innovations, especially those that provide clean energy to rural regions of the world.
Their recent investment in Husk Power Systems for over $20 million is testament to this passion. Husk, a startup originating from India and Tanzania, currently use a flexible “pay-as-you-go” energy service to design, build, own and operate a low-cost hybrid power plant that is based in India and Tanzania. These systems are extremely reliable and operate 24/7 to contribute power to the region.
Shell saw the core of social enterprise within Husk—not only a strong ethical calling but a sustainable, scalable business model that means they can continue to provide power to these rural regions.
That’s what the Get in the Ring challenges are all about: connecting startups from all over the world to opportunities that can not only change the world, but give them a platform to have scale internationally.
With the evolution of the transportation industry springing from breakouts with autonomous driving, electric vehicles and other innovations, we see that there are often more efficient ways to conduct operations that can still include couriers in the process.
That’s why we’re looking for innovations that are revolutionizing new fuels for transport, connected mobility and freight. Shell’s investment in tiramizoo GmbH’s same-day, last-mile delivery business model has meant that not only are they supporting efficiency, but they are in support of business models that integrate such with current, “conventional” roles in the workforce like transportation.
It’s all in the data
So, what about digitalisation? How can we better connect with consumer thought processes?
There are so many ways to analyse and interpret data, and we want to discover them.
Shell is continually looking to innovate the way that they conduct processes based on the acquisition of data. Take Veros’ “ForeSight” for example, a recent investment from Shell Ventures who provide a dashboard of real-time operating metrics with clear warning about impending failures in equipment. With this technology, engineers are able to easily identify underperforming pieces of equipment, metrics and other concerns months in advance.
While these startups may have been successful without a partnership with Shell, their investment of time, manpower and money has accelerated their growth tremendously.
By taking control of your future, and partnering with Get in the Ring and New Energy Challenge, you could be the next startup in Shell Ventures investment portfolio.
We can’t wait to hear your pitch! Sign-up now.