Three Lafayette-based organizations are inviting businesses and individuals whose technology might play a big role in oil and gas to pitch their ideas and products to investors at the Louisiana Gulf Coast Oil Exposition in October.
LAGCOE, whose biennial oil and gas exposition runs Oct. 27-29 at the Cajundome, is teaming up with INNOV8 Acadiana and The Opportunity Machine to connect energy innovators with those who have money to invest.
Ten candidates, who will be chosen on the merits of their applications and business plans, will pitch their innovations to well-heeled investors at the “Energy Innovators Pitch Challenge” in a “Shark Tank”-style competition on Oct. 29, the last day of LAGCOE 2015.
“Each innovator will be given three minutes to pitch their idea to a panel of investors,” event organizers said in a statement.
The pitch to investors, who have the option of funding any of the participants, follows a three-minute question-and-answer session with a live audience.
The best presentation will receive the INNOV8 Award, and the presenter could have his idea funded.
Investors also are encouraged to attend the event, where they’ll meet and talk to the 10 participants and exchange ideas.
The 10 candidates will be invited to again pitch their products on Nov. 14 at the INNOV8 Acadiana Technology and Entrepreneurial Summit in Lafayette. Three winners at the summit will get an all-expense-paid trip to the Idea Village’s New Orleans Entrepreneur Week, to be held March 11-18.
“LAGCOE has always had a focus on showcasing new technologies in the oil and gas industry,” said Angela Cring, LAGCOE executive director. “The Energy Innovators Pitch Event allows us to help move new technologies and ideas forward from their earliest stages, which is very exciting. … I can’t wait to see what great ideas come from this challenge.”
Businesses and individuals can apply for the pitch event by going to lagcoe.com/energy innovators and filing out an application.