Chevron Studio is a one-of-a-kind program designed to help entrepreneurs build companies by linking them with world-class, early-stage technologies developed at universities and federal national labs. The program provides assistance to entrepreneurs to help them scale-up and commercialize these technologies. Chevron Studio is initially focusing on the following areas of interest:
- Carbon utilization
- Hydrogen and renewable energy
- Energy storage systems
- Solutions for a circular economy.
Developed as a partnership between Chevron Technology Ventures (CTV) and the National Renewable Energy Laboratory (NREL), Chevron Studio brings together research institutions to collaborate and enable affordable, reliable, and lower-carbon energy for all.
Chevron Studio is composed of three phases: Discovery, Scale Up, and Field Trial.
Phase 1: Discovery
Applicants must apply to enter into the Discovery Phase. As part of the application process, applicants review the Chevron Studio Curated List of Intellectual Property (IP) and attend IP sessions with participating university and federal national lab Technology Transfer Offices and inventors that will take place in late February and early March 2023. Contact us if you would like more information about these IP sessions.
After attending the applicable IP sessions, applicants will list the IP they would like to pursue in their applications, then complete and submit their applications before 11:59 p.m. MDT on March 14, 2023. Selected entrepreneurs will be notified in late March.
The award amount for the Discovery Phase is $40,000, which supports the evaluation of selected entrepreneurs' chosen IP and the development of engagement, business, and scale-up plans, a final report, and a pitch presentation over a 3-month period. At the end of the Discovery Phase, selected entrepreneurs attend a Pitch Day where they present their final report to the Chevron Studio Joint Steering Committee with the goal of advancing to the Scale-Up Phase.
Contact us if you would like to see copies of the Project Support Award Agreements for the Discovery Phase.
Phase 2: Scale Up
Entrepreneurs selected to advance from the Discovery Phase will form companies and, over the next 12 to 24 months, work with a university or federal national lab to scale up and demonstrate these technologies at a minimum viable commercial scale.
After signing a Simple Agreement for Future Equity with CTV and a Project Support Award Agreement with NREL, selected entrepreneurs will receive a $125,000 award. Entrepreneurs will also receive $150,000 in technical assistance after signing a Technical Assistance Agreement and an Intellectual Property Agreement with the applicable university or federal national lab. At the end of the Scale-Up Phase, the companies are expected to raise external financing.
Phase 3: Field Trial
Selected companies that advance from the Scale-Up Phase may be offered an opportunity to conduct field trials at a Chevron or related facility to demonstrate the scalability of their respective innovations and value propositions.
Chevron Studio Cohort 2 Application
Chevron Studio is a one-of-a-kind program designed to help entrepreneurs build companies by linking them with world-class, early-stage technologies developed at universities and federal national labs. The program provides assistance to entrepreneurs to help them scale-up and commercialize these technologies. Chevron Studio is initially focusing on the following areas of interest:
- Carbon utilization
- Hydrogen and renewable energy
- Energy storage systems
- Solutions for a circular economy.
Developed as a partnership between Chevron Technology Ventures (CTV) and the National Renewable Energy Laboratory (NREL), Chevron Studio brings together research institutions to collaborate and enable affordable, reliable, and lower-carbon energy for all.
Chevron Studio is composed of three phases: Discovery, Scale Up, and Field Trial.
Phase 1: Discovery
Applicants must apply to enter into the Discovery Phase. As part of the application process, applicants review the Chevron Studio Curated List of Intellectual Property (IP) and attend IP sessions with participating university and federal national lab Technology Transfer Offices and inventors that will take place in late February and early March 2023. Contact us if you would like more information about these IP sessions.
After attending the applicable IP sessions, applicants will list the IP they would like to pursue in their applications, then complete and submit their applications before 11:59 p.m. MDT on March 14, 2023. Selected entrepreneurs will be notified in late March.
The award amount for the Discovery Phase is $40,000, which supports the evaluation of selected entrepreneurs' chosen IP and the development of engagement, business, and scale-up plans, a final report, and a pitch presentation over a 3-month period. At the end of the Discovery Phase, selected entrepreneurs attend a Pitch Day where they present their final report to the Chevron Studio Joint Steering Committee with the goal of advancing to the Scale-Up Phase.
Contact us if you would like to see copies of the Project Support Award Agreements for the Discovery Phase.
Phase 2: Scale Up
Entrepreneurs selected to advance from the Discovery Phase will form companies and, over the next 12 to 24 months, work with a university or federal national lab to scale up and demonstrate these technologies at a minimum viable commercial scale.
After signing a Simple Agreement for Future Equity with CTV and a Project Support Award Agreement with NREL, selected entrepreneurs will receive a $125,000 award. Entrepreneurs will also receive $150,000 in technical assistance after signing a Technical Assistance Agreement and an Intellectual Property Agreement with the applicable university or federal national lab. At the end of the Scale-Up Phase, the companies are expected to raise external financing.
Phase 3: Field Trial
Selected companies that advance from the Scale-Up Phase may be offered an opportunity to conduct field trials at a Chevron or related facility to demonstrate the scalability of their respective innovations and value propositions.