Law firm Pinsent Masons has been named Partner of the Year by the Oil & Gas Technology Centre’s (OGTC) accelerator programme TechX.
The TechX initiative, run by the OGTC in Aberdeen, helps ambitious firms fast track solutions for the oil and gas industry to market entry status.
Pinsent Masons’ energy and commercial teams are professional mentors to the TechX Pioneer programme and over the last year have been assisting the first cohort of 10 start-up businesses to navigate the web of commercial-legal challenges.
Pioneers companies can receive up to £100,000 funding, as well as access to experienced business mentors, co-working facilities, and introductions to business and finance partners.
Pinsent Masons was nominated for the award by the individual Pioneer companies and Corporate Partner oil and gas technology law expert, Martin Ewan, collected the award on behalf of the firm.
He said: “The Pioneer companies are devising exciting cutting-edge technologies and new ways of working which are aligned with the oil and gas industry’s overall objective of maximising hydrocarbon recoveries and promoting greater collaboration.
“It has been a pleasure to work alongside this new generation of tech entrepreneurs and we are delighted to play a role in advising and guiding these Pioneers who will make a genuine difference to the long-term viability of the UK North Sea and other international basins.
“Start-up and young businesses can find the legal landscape daunting and if they don’t follow the correct legal and regulatory procedures this can stifle growth and cause serious problems further down the line. We are there to help the Pioneers avoid those pitfalls and to free them up to focus on invention and innovation.”
Technologies promoted during the first 16-week TechX programme have secured seven field trials and businesses have accelerated their chances of market entry through more than 150 meetings with major operating and service companies.
Over the next 10 years, TechX will invest in more than 100 new start-ups and 200 SMEs to help unlock the full potential of the UK North Sea and anchor a new technology supply chain in the region.
Pinsent Masons partner Martin Ewan (right) receives the award from TechX’s technology accelerator manager Stuart MacKinven