Natalie Harms Jun 27, 2024, 12:16 pm
Houston-based NOV is launching a new growth-stage startup accelerator focused on the
upstream oil and gas industry.
NOV, a provider of oil and gas drilling and production operations equipment, has announced its new NOV Supernova Accelerator
in collaboration with VentureBuilder, a consulting firm, investor, and accelerator program operator led by a group of Houston innovators.
Applications to the program are open online, and the deadline to apply is July 7. Specifically, NOV is looking for companies working
on solutions in data management and analytics, operational efficiency, HSE monitoring, predictive maintenance, and digital twins.
The five-month program establishes a significant relationship between the 20 selected startups and NOV, beginning with
paid pilot programs.
“This is not a traditional startup accelerator. This is often a first-client relationship to help disruptive startups refine product-market fit and creatively
solve our pressing enterprise problems,” reads the program’s website.
Selected startups will have direct access to NOV’s team and resources. The program will require companies
to spend one week per month in person at NOV headquarters in Houston and will provide support surrounding several themes, including go-to-market strategy, pitch practice, and more.
“The NOV Supernova Accelerator offers a strategic approach where the company collaborates with startups in a
vendor-client relationship to address specific business needs,” says Billy Grandy, general partner of VentureBuilder.vc,
in a statement. “Unlike mergers and acquisitions, the venture client model allows corporations like NOV to quickly test
and implement new technologies without committing to an acquisition or risking significant investment.”