Oil & Gas Innovation Summer 2020 Digital | Page 37

people can face when pitching an idea internally in a corporation? Bebekon: “it will never work, tried it before, what makes you so sure, what do you know?” are typical comments when pitching an idea in a corporation. Sadly, people that should know better often have one agenda point: How to shoot down the idea, how to get the person or persons down from their pedestal. The industry misses a lot of ground-breaking technology that could discover and exploit new reserves and extend existing fields. Big corporates have big sectors mitigating risks. But no one have sectors mitigates opportunities. What if you could receive a business card saying: Manger technology opportunity? New ideas are often met with: “We are happy and comfortable with the way we are doing it today. We do not want any changes, good luck to you”. The more polite variant: “Come back when the idea is more mature”. What they really mean: When someone else, a competitor, is onboard. Then, the fear of being outdistanced clicks in, and they may want to listen. Hierarchy organisation models are resistance put into system. The best experiences in fast track innovation projects are results from flat organizational charts. OGI: Could you talk about some of the difficulties that arise in relation to securing venture capital as an unexperienced person? Bebekon: Investors see through you. If you are not prepared, if you have not thoroughly thought through your case in advance, they have other fish to fry. “It’s Not What You Do, It’s Why You Do It”, is a saying. (Sinek’s theories). If you do not convince the venture capitalist that you have established a company with IPR for a technology with acceptable TRL, that you understand development risks, represent a team with sufficient technology and economical skills, understand the market and the state of the art, doors are closed. Freedom to operate and time to market are often problematised. Likewise, if the technology need is insufficiently established. Pitching an idea is demanding. You want to tell everything in a few minutes, (if you are lucky, 10), explain the problem solved, and finally you’ll need to convince that it is worthwhile investing. Focus on value proposition, what the product is worth for the user – are the customers willing to pay the cost compared to the user benefits? Market understanding and competitors, and, the magnitude of return of capital vs. time to marked - explain the business potential. OGI: Finally, could you enlighten our readers of a case study where you helped a client with your solutions? Bebekon: An oil spill clean-up association had the need for new and better equipment for harsh environment. Bebekon facilitated an innovation campaign and harvested several sustainable ideas, some of them disruptive innovations. Bebekon may challenge creative people showing “how we do things in our business”. For example, tripping operation on a drilling unit. Crazy ideas may pop up in the head of people not fastened in established procedures. That was the background for the company behind the multiuse, multidiameter, sitting constantly around the drill string - type iron roughneck that also are used as a work platform and lifting device. The idea and the people behind the fully robotised drill floor were challenged by environmental matters in demanding exploration areas. Securing interest and funding from established O&G project organisations with a goal to comply with political restrictions, was the breakthrough puzzle piece to get the development going. Today, the system is available through a multinational drilling company. Innovative use of suction anchors, was an idea captured, adopted and, as for the mentioned examples, financed by a major oil company. OGI: Any other examples? Bebekon: Along with typical “from idea to business” cases, Bebekon also has case histories within accusation & mergers. Primarily small companies in need for a broad network to find new owners or investors. OGI: Thank you for your time. • If you would like to know more about the solutions discussed in this article please contact: Bebekon AS T: [phone] W: www.bebekon.no E: [email protected] 37