SparkLabs Energy Accelerator Launches with Petroleum Development Oman (PDO) and Phaze Ventures

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New Energy Tech Focused Accelerator based in Oman is a Global Program for the World’s Best Energy Startups

“We specifically designed the Sparklabs Energy program with PDO and Phaze Ventures to benefit from Oman’s drive to become a leading global technology hub for future energy needs and efficiencies," Eugene Kim, Partner at SparkLabs

SparkLabs Group (http://www.sparklabsgroup.com), the global venture and accelerator group, has partnered with Petroleum Development Oman (PDO), the leading energy exploration and production company in the Sultanate of Oman, owned by the Government of Oman), the Shell Group, Total and Partex, and Phaze Ventures, a new technology group focused on innovation throughout the Middle East, to launch a major new accelerator focused on Energy Technology in the region, part of a new initiative to develop Oman as a global future energy technology hub.

SparkLabs is the largest Pan-Asia accelerator group, with accelerators in Korea, China, Taiwan, Hong Kong and Australia. SparkLabs is now expanding to the Middle East, with the Energy Accelerator in partnership with PDO and Phaze Ventures to identify and scale companies and solutions solving the future energy needs of the region and the world. This is part of the overall initiative to make Oman a global centre of excellence in future energy technologies and efficiencies, utilizing the unique merits of different countries in the region.

The SparkLabs Energy Accelerator 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. 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.

“We look forward to working closely with SparkLabs and Phaze Ventures to meet our shared ambitions for this country.”

SparkLabs Accelerator Partner, Eugene Kim said, “We specifically designed the Sparklabs Energy program 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 are looking forward to develop Oman’s best energy startups, together with bringing some of the world’s most impactful early stage energy startups to the region, thereby generating a flow of information and innovation between startups, corporates and governments that will help transform the region’s energy sector.”

The SparkLabs Energy program is based in Muscat, Oman, and the first class will start in October 2018, and applications will begin in May 2018, with selection finalized by July 2018.

About Petroleum Development Oman
PDO is the leading exploration and production company in the Sultanate of Oman. We deliver the majority of the country's crude oil production and natural gas supply, but above all we focus on delivering excellence, growth and sustainable value creation within and well beyond our industry.

The Company is owned by the Government of Oman (which has a 60% interest), the Shell Group (which has a 34% interest), Total (which has a 4% interest) and Partex (which has a 2% interest). Gas fields and processing plants are operated by PDO exclusively on behalf of the Government.

About SparkLabs Group
SparkLabs Group (http://www.sparklabsgroup.com) is comprised of SparkLabs accelerator network, Asia’s premier startup accelerators; SparkLabs Global Ventures, a leading seed stage fund; SparkLabs Ventures, a localized early-stage fund (Series A & B) in South Korea; SparkChain, a global early-stage fund focused on blockchain innovations; SparkLabs Capital, a late stage investment vehicle. SparkLabs accelerator network consists of SparkLabs Korea (Seoul), SparkLabs China (Beijing and launching Shanghai, Chengdu and Shenzen), SparkLabs IoT & Smart Cities (Songdo, South Korea), SparkLabs Taipei, SparkLabs Cultiv8 (Sydney) and Ping An FinTech Accelerator, Powered by SparkLabs (Shenzhen & Hong Kong).

About Phaze Ventures
Phaze Ventures is an investment and innovation platform founded to accelerate the transformation of the Gulf region to a post-oil economy. Through strategic investment and partnerships with forward-thinking corporates, governments, and international organizations, our goal is to create new opportunity in the region and unlock the full potential of our region’s talent and youth.

For further information, please contact:

The PDO External Affairs Directorate
Karima Farid Al Shahaibi,
Media Relations Adviser,
Tel: 2467-7756
E-mail: karima.kf.shahaibi(at)pdo.co(dot)om

Abdullah Al Shaksy
CEO & Co-Founder, Phaze Ventures
E-mail: abdullah(at)phaze(dot)ventures

Eugene Kim
Managing Partner, SparkLabs Accelerator Group
E-mail: eugene(at)sparklabs.co(dot)kr

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Bernard Moon
SparkLabs
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