The OQ Accelerator program is currently accepting applications for its latest cohort, aimed at fostering innovative solutions to energy challenges in Oman and beyond. This initiative, supported by OQ, an energy investment company owned by the Government of Oman, seeks to empower startups in the energy and sustainability sectors, offering both early-stage and scaling support.

Program Overview

• Duration:

  • Pre-Accelerator: 3 months

  • Accelerator: 6 months

• Type: Grant-based with follow-on investment opportunities

• Focus: Energy and sustainability startups, with an emphasis on addressing Oman's energy challenges and ensuring global scalability.

Key Benefits

The OQ Accelerator offers extensive resources and mentorship, aiming to provide startups with tailored support for sustainable growth. Key benefits include:

• Up to $50,000 grant for early-stage startups

• Up to $500,000 follow-on investment for startups showing substantial promise

• Workshops and mentorship by experts in energy and sustainability

• Access to Oman’s ecosystem and networks of industry leaders and potential investors

• Post-program support, including continued mentorship and services worth over $250,000 in partnership perks

Accelerator Paths

1. Pre-Accelerator Path (3 months):

   • Designed for early-stage startups working on innovative concepts in energy and sustainability.

   • Offers comprehensive business support, workshops, mentorship, and investor engagement.

   • Access to Oman’s thriving energy ecosystem, strategic partnerships, and post-program benefits.

2. Accelerator Path (6 months):

   • Targeted at startups beyond the MVP stage with a functioning prototype or initial customer traction.

   • Offers in-depth mentorship, growth strategies, and funding opportunities, including a $50,000 grant and the potential for follow-on investment of up to $500,000.

   • Aims to help startups scale through market exposure and industry connections, culminating in an investor demo day.

Program Highlights

• Tailored Education & Mentorship: Startups receive curated sessions covering essential market, financial, and technical insights, guided by expert mentors with domain expertise across 15+ clean energy sectors.

• Access to Oman’s Ecosystem: Participants can leverage Oman’s network of industry leaders, investors, and mentors to gain insights into local partnerships and market opportunities.

• Funding Opportunities & Corporate Partnerships: Startups will have opportunities to refine their pitches and present at demo days attended by investors and industry leaders. Additionally, startups can explore corporate partnerships within Oman's energy sector.

Focus Areas

The OQ Accelerator is focused on technologies that address critical challenges in the energy sector, including:

• Renewable energy

• Energy efficiency

• Water management

• Digital technologies for energy

• Carbon footprint reduction

• Artificial intelligence (AI) for the energy sector

Eligibility Criteria

The program is open to full-time founders with relevant industry experience who are working on energy solutions focused on availability, affordability, and sustainability. Applicants must:

• Be building an energy or sustainability startup.

• Have a functioning prototype or initial customer traction for the Accelerator path.

• For the Pre-Accelerator, startups may be in the concept or prototype stage.

Evaluation Process

Startups will undergo an intensive evaluation process, with a focus on the following:

• Market desirability

• Financial viability

• Technical feasibility

Twenty startups will be selected to participate in either the Pre-Accelerator or Accelerator programs, based on their growth potential and alignment with the program’s vision.

Application and Program Structure

• Global Applications: Open to startups worldwide.

• Hybrid Format: Some sessions will be virtual, while in-person attendance is required for certain activities in Oman.

• Application Deadline: October 15, 2024.

OQ is a major energy investment company in Oman, fully owned by the government and playing a vital role in the Oman Investment Authority’s strategy. OQ's investments span across oil and gas, petrochemicals, alternative energy, power generation, and infrastructure, positioning it as a key player in Oman's energy security and economic growth. For more information or to apply, visit the OQ website and submit your application by October 15, 2024.