Equity funding is used to develop, validate and pilot technologies, and build the organization to support sales and service delivery. Statoil Technology Invest is an active corporate venture partners dedicated to supporting enthusiastic entrepreneurs build great technology companies. Equity funding involves STI taking an ownership stake in the company, typically 10-40%, and in most cases an STI representative would also be appointed to the board of directors.
STI works to achieve competitive returns for our founders, and only invests where we believe we can significantly contribute to value creation. This may be done through:
- Establishing clear implementation targets and plans for broad use in Statoil
- Sharpening the business plan and providing a clear view of customer requirements
- Building a corporate governance structure based on best practice HSE and ABC
- Sharing our network of industry experts to build superior boards and management teams
- Attracting high quality fellow investors
Companies considered for equity funding must be developing or delivering technologies that can be implemented into Statoil's operations, providing a step change in efficiency, operational costs or improving HSE performance. The technologies must patented or otherwise protected. The companies need to have a strong core management team capable of delivering results.