Last month, Eunike Ventures officially launched a “hybrid technology accelerator” program, backed by the operators Equinor, Hess and Anadarko.
Led by Amy Henry, co-founder and CEO of Eunike, their goal is to fill the gap in the tech ecosystem by guaranteeing startups a pilot program. Eunike is facilitating the need for startups to work directly with potential energy industry customers in testing their products and putting them to use.
Nesh, the “Alexa for the energy sector,” led by Co-Founder and CEO Sidd Gupta, is Eunike’s first startup.
In this article by Houston Chronicle, Gupta and Henry describe the specific challenges startups have as they attempt to get in the door with energy companies and how Eunike is “uniquely” filling the gaps.
“With us being in Texas, the venture capital market is sort of conservative compared to California or New York,” said Gupta, co-founder and CEO of Nesh. “They want to see hard numbers rather than just the promise of the technology.”
With Eunike’s backing and expertise, they have helped Nesh get their foot in the door. They’ve assisted Nesh with refining its pitch and identify its strengths and weaknesses. It also introduced Nesh to the energy companies and helped frame the scope of its pilot programs. This promise of upcoming pilots has helped Gupta receive venture capital financing.
Eunike only accepts startups for which it can guarantee at least one pilot program, and its team members have an extensive network and decades of experience with international oil and gas companies. In other words, Eunike has access to C-suite energy executives.
Co-founders Amy Henry and Thomas Henry, professionals with extensive experience in the energy sector, have worked with Big 4 consultancies, major International Oil Companies / National Oil Companies, and advised start-ups as part of the Houston Technology Center’s Ignition program and in-house programs such as the Shell Game Changer and Shell Technology Ventures. Today, they serve on the management team as CEO and COO, respectively. William Fraizer serves as the Vice President of Technology Development and has more than 25 years of international oil and gas experience with Chevron. His expertise is in project/technical Delivery, and research and technology. Jeff Tomlinson serves as Vice President of Technology Deployment and has more than 25 years of international oil and gas experience with ExxonMobil, BHP, and Murphy Oil Corporation. His expertise is in asset and operational excellence.
The team at Eunike has put into place a multi-step process to ensure the startups are a good fit, as well as a high touch mentorship experience to provide a higher than usual rate of success through to commercialization.
For more information about Eunike Ventures and their full scope of services, visit eunikeventures.com.