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Why should my company apply to join Halliburton Labs?
We’re not like any experience you’ve had before. An accelerator? That’s not us. Corporate venturing? Not us either. Halliburton Labs is a different category altogether.
We’ve curated a collaborative environment where clean energy and climate ventures that need technical and operational expertise, access to sophisticated lab space, and the ability to demonstrate their technologies can scale their companies to commercialization.
Selected participants will:
● Receive unlimited, bespoke guidance from energy industry practitioners and in-house experts on R&D, testing, certification, design, and more.
● Join a community of entrepreneurs, academics, and investors dedicated to ushering in the next generation of clean energy.
● Achieve scale through our state-of-the-art research and manufacturing facilities, lab services, and business network.
● Access investors, industry contacts, and customers through Halliburton’s vast global network.
● Unlock Halliburton’s breadth of professional services including supply chain, purchasing, manufacturing, assembly, repair, and logistics.
How long can companies participate and what is the cost?
Halliburton Labs is a customized experience built to last approximately 12 months—but our team often continues to guide participants as long as they need us. In return for unlimited access to our customized mentorship and access to our cutting-edge R&D facilities, Halliburton Labs requires an equity ownership interest of 5% (modified SAFE). Participants may also pay monthly fees for dedicated office, lab, and manufacturing space. Halliburton Labs provides a founder-focused, low-friction environment to collaborate and accelerate. There are no demands for intellectual property rights, rights of first refusal, or board/observer seats.
What is the selection process for interested companies?
Halliburton Labs has an open application process with cohort selection typically occurring two to three times per year. Our team will collect general, non-confidential information from applicants, complete an initial review, and identify finalists. Finalists will enter a due-diligence process with our team of experts, comprised of individuals from across the venture capital, startup, finance, policy, business, and academic communities. This process may include in-person interviews and reference checks and culminates with Pitch Day, where companies pitch to a carefully curated panel.
Pitch Day is an opportunity for finalist companies to share their story with a relevant audience and make connections with potential investors and customers from the energy community.
Do I have to move my company to a Halliburton facility to participate effectively?
No. We have had success with participants using our headquarters in Houston, Texas, as well as participating virtually.
Can we use the Halliburton Labs name and logo in our marketing and sales conversations?
Yes! When selected into the program, we’ll publicly support your company, and encourage you to use the power of our brand in your marketing materials as permitted under the participation agreement, which covers the relationship between Halliburton Labs and each participant company.
What kind of mentorship will I receive?
We’re here to help and will activate capabilities from around our global organization and business network to speed your acceleration. This may include a range of support from engineering, manufacturing, and supply chain to fundraising, intellectual property strategy, and building an organization. We hold regular check-ins to review your progress, help refine your business model, and explore solutions to your most pressing pain points. Our support is bespoke, so we’re fully prepared to provide the specific guidance you need for each stage of your journey.
What types of testing and R&D resources are available?
As part of the program, participant companies will have access to dedicated laboratory working space and curated use of our physical research and testing facilities as outlined in the participation agreement. Our team can also provide a broad range of on-demand lab services and raw materials procurement (not for commercial production) at Halliburton’s preferred discounted rates.
How do I access Halliburton’s external network?
Halliburton has cultivated a deep network of industry experts, customers, and capital sources. As your scale your business, you’ll have access to internal Halliburton expertise in business planning, finance, human resources, marketing, supply chain and manufacturing, and more. You’ll also have access to Halliburton’s wide business network which could include suppliers, potential investors, the broader energy community, and others.
Throughout the experience, we’ll be part of your team, working with you to determine the optimal timing and strategy to engage these connections when you need them.
How do I utilize Halliburton’s in-house experts?
Halliburton has been a globally recognized leader in energy R&D and services for more than a century with operations in over 70 countries around the world. From technical to functional to geographical expertise, we have employees and in-house specialists who can provide expert guidance on virtually any business topic. We’ll work with you to identify and introduce you to the experts you need, when you need them.
Will you work with our company on pilots or POCs as a customer?
We’re fostering the next generation of energy concepts beyond what’s directly relevant to Halliburton’s existing business. So, while we aren’t typically the customer for pilots, we can provide expertise, insight, and experience to help you identify, prepare for, and successfully execute your pilots and POCs.
Does Halliburton Labs provide capital investment?
Startups admitted to the program receive 100,000 USD along with various other benefits in exchange for issuing Halliburton Labs a modified SAFE for 5% of the startup’s equity. The 100,000 USD is not connected to a valuation exercise, as Halliburton’s largest investment in participant companies is in-kind services.