Open Call: Baker Hughes Energy Ideas Generation Program

They are looking for startups that can provide unique and disruptive physical, digital or phygital solutions that could contribute to their journey towards clean, safer, and more efficient energy for the people and the planet.

The program borns from the collaboration between Baker Hughes and Nana Bianca and offers to all selected projects the opportunity to undertake a 16-week Open Innovation process.

Aims

• The aim of the Energy Ideas Generation Program is to support the european early stage startups in the energy verticals in order to build together the technologies of tomorrow.

Focus Areas

• Baker Hughes Energy Ideas Generation Program is the Open Innovation program for start-ups, SMEs and research projects focused on energy-related technologies.

Program Benefits

• Dedicated events
  • To showcase the technologies and solutions
• Workshops
  • To unlock potential collaborative developments
• 35k grant
  • Potential opportunity for Grants up to 35k for each Start up
• One-to-one
  • Technical Mentoring provided by Baker Hughes Subject Matter Experts
• Mentoring
  • On fundraising and startup development provided by Nana Bianca
• Attendance
  • The program is conducted through remote mentorship sessions with only a few in-person events.

Eligibility Criteria

• The Energy Ideas Generation Program is mainly open to early stage startups. Their main focus is on startups under 3 years old, generally pre-seed stage with a prototype or at the initial pilot stage operating in the energy sectors and looking to refine their value proposition. They are also open to evaluate startups at higher stage in case of particular technology value.

Selection Criteria

• Quality of the team: skills relevance, complementarity, expertise and market knowledge
• Value proposition: existing prototype or MVP, unfair advantages, initial traction (actual customers or potential customers)
• Market dynamic: Market size, market dynamics and maturity
• Fit with the program: relevance with specific Baker Hughes business lines, maturity of the company (pre-seed/seed stage looking to prepare a first fundraising), capacity and willingness to question current value proposition and strategy.

Selection Process

• The selection process lasts up to 8 weeks and is divided into 3 phases:
  • First phase: some startups will be contacted for an in-depth analysis with the acceleration team. During this call, the metrics of the startup will be discussed and the general terms of the agreement will be presented;
  • Second phase: the selected teams will receive an NDA, once signed, a short list of startups more in line with the requirements will be created which will access the Discovery phase. During such phase, with a duration of 6 weeks, the teams will have the opportunity to engage with Baker Hughes subject matter experts to present the technology and discuss potential use cases of mutual interest.
  • Third phase: during the Discovery phase, selected teams receive their Term Sheet and, once accepted, will access the Selection Day. Following the Selection Day, the Executive Committee will take the final decision on the startups that will access the Open Innovation Program
• You will receive a response on the selection results at the end of the selection process.

For more information, visit Baker Hughes.