Oil and Gas



Petroleum Developmen­t Oman (PDO) has partnered with Omani investment group Phaze Ventures to set up a new platform to boost local energy start-ups and attract companies from around the world to the Sultanate. The “SparkLabs Energy Accelerato­r,” to be hosted in Oman, is an intensive six-month programme designed by global business incubator group SparkLabs.

The programme offers start-ups funding, co-working space and mentorship to help grow their businesses, and develop cutting-edge products and services for the energy sector. The Energy Accelerato­r also offers access to a global network of entreprene­urs, venture capitalist­s, angel investors and executives, as well as the opportunit­y to test the viability of early solutions within the real-world setting of PDO’s operations.

PDO Managing Director Raoul Restucci said, “Renewable energy presents an enormous opportunit­y for Oman. PDO is committed to playing its full part in helping to position the Sultanate as a regional leader and to develop the nation as a renewable energy centre of excellence and technology hub. We are already incorporat­ing solar renewable energy in our operations and working closely with both academia and industry to promote, identify, develop and proficient­ly deploy key innovation­s and enablers. This announceme­nt focuses on energy technologi­es and efficienci­es and is another important building block in our Company’s strategy.

“We look forward to working closely with SparkLabs and

Phaze Ventures to meet our shared ambitions for this country.” Restucci added, “PDO is keen to provide a platform that attracts entreprene­urs from Oman as well as internatio­nally to support knowledge transfer between start-ups, corporate partners and government alike. It will keep PDO, and the wider Omani innovation ecosystem, close to emerging global trends, support local capacity building and establish a pipeline of high-potential investment opportunit­ies in the energy field.”

Phaze Ventures Chief Executive Officer and Co-founder Abdullah Al Shaksy said: “Our goal is to unlock the full potential of our region’s talent and youth through strategic investment­s, and working together with forward-thinking corporates, local government­s, and internatio­nal partners looking to add value in the region. We are incredibly excited about our roadmap for Oman, with the SparkLabs Energy Accelerato­r, in partnershi­p with PDO, marking the first chapter of Oman’s future as a centre for innovation.” SparkLabs is the biggest Pan-Asia accelerato­r group, with accelerato­rs in Korea, China, Taiwan, Hong Kong and Australia and is bringing its experience to Oman, with the Energy Accelerato­r focused on scaling start-ups offering solutions to the future energy needs of the region and the world. SparkLabs Energy will be working with PDO and Phaze Ventures to identify and help scale start-ups from Oman, and supporting companies from around the world to expand in the Middle East via the new energy technology hub in Oman.

SparkLabs Group General Partner Eugene Kim said, “We specifical­ly designed the Sparklabs Energy programme with PDO and Phaze Ventures to benefit from Oman’s drive to become a leading global technology hub for future energy needs and efficienci­es. We already have strong accelerato­r programmes in FinTech, the Internet of Things, Smart Cities and Agricultur­al Tech, and the SparkLabs Energy programme brings energy startups into the SparkLabs ecosystem as well.”

“We are looking to develop Oman’s best energy start-ups, together with bringing some of the world’s most impactful early stage energy start-ups to the region, thereby generating a flow of informatio­n and innovation between start-ups, corporates and government­s that will help transform the region’s energy sector.”

The six-month programme will conclude with a “Demo

Day”, open to investors, government officials, corporates and academics from across the world. Applicatio­ns are now open to start-ups. To apply or learn more about the SparkLabs Energy Accelerato­r programme, visit the official page: www. sparklabse­nergy.com

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