This accelerator program differs from a traditional accelerator in many ways:

• The program's focus is on developing deep and meaningful partnerships with enterprises rather than on broader programming related to building a company. It’s about catching a large, paying client early in the company’s lifecycle to speed up product-market fit, revenue, and scalability.

• This program is not just for pre-seed companies aiming to raise a round. We have a track record of working with startups at different growth stages through A Round to deliver long-term commercial partnerships.

• The accelerator program includes a combination of in-person and virtual meetings. Many accelerators are 10-12 weeks in-person only; this program is five months with one week per month in-person and several virtual events during off weeks, which allows time for you to work and spend time with colleagues and family in between.

• Each cohort will include 20 companies, allowing for a much more tailored, 1:1 approach, so no one-size-fits-all programming.

• Founders are eligible for venture debt from $50k to $500k backed by warrants, which offers additional optional funding opportunities.

Yes, with a wrinkle. NOV does NOT take any equity in the company as a condition for participating in this accelerator program, which frees up companies to pursue other customers in similar verticals without conflict. However, Venture Builder is funding the accelerator and receives up to 6% equity in common stock to cover the cost of program participation. NOV will be able to make investments in companies coming through the program on a case-by-case basis where mutually desirable.

The NOV Supernova Accelerator program delivers more than $250,000 in value to a startup through the program sessions, customer access, speakers, evaluation activities, access to SMEs, management consulting, networking events, and the capstone Investor Demo Days in three key cities. In addition to the significant value delivered by the accelerator, startups are eligible for a venture debt program in exchange for interest payments and warrants, starting at a minimum of $50,000 in cash and upwards, depending on your stage, traction, needs, and a compelling story. This is available for any startup accepted into the accelerator program and is optional for the founder(s) to take.

NOV and Venture Builder senior management, along with select SMEs, will review your application and select founders we believe in and business concepts that align well with our core skills and priority problem segments.

Each accelerator Batch program will include around twenty companies. Iron sharpens iron and founders receive extra benefits from networking and relationship-building with other startup leaders.

In addition to the five in-person weeks in Houston spread over five months, participants can expect three to five hours/week of scheduled virtual content and coaching during remote weeks, in addition to discussions with NOV and Venture Builder teams to scope out potential pilot programs.

We would prefer that founding team members participate. However, we understand that commitments come up and certain expertise beyond that of the founders may be needed, so if other senior employees outside the founding team need to fill in for a session or two, that is acceptable.

We're open for business at all of the NOV global offices. However, we learned that a hybrid model combining one week per month in-person in Houston with remote access on the off weeks has real benefits to founders who have busy lives, families, pets, and businesses to build. We're flexible so let us know if you have any questions.

While the goal is to achieve a pilot or proof of concept (depending on the stage and readiness of the startup), there is no guaranteed engagement at the end of the accelerator program. Startups must prove they are pilot-ready and must demonstrate their competency to management.

Post-program, NOV and Venture Builders continue to support the companies in our portfolio in executing their partnerships and by identifying new opportunities for them with our business.

Post-program, we continue to support the companies in our portfolio in executing their pilots and by identifying new opportunities for them with NOV. Our team:

• Assists in the scoping and execution of pilots with the goal of converting them to longer-term commercial deals.

• Facilitates opportunities to expose startups to relevant teams throughout NOV and our broader global network.

First, your company must be incorporated in order to issue stock. To comply, S-Corps and LLCs must be converted to an Inc. company. If this condition is met, we run lean and only require an LOI that includes an NDA, a Stock Purchase Agreement to convey equity in common stock to Venture Builder, and an optional venture debt instrument backed by warrants.