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Are you passionate about driving change in the energy sector? Do you have a groundbreaking idea or technology to reduce emissions and decarbonize offshore drilling operations? If so, Transocean invites you to join this open innovation challenge, a game-changing opportunity to shape the future of offshore drilling.

Ion is proud to partner with Transocean, a global leader in offshore drilling, to launch this exciting challenge that invites startup companies, academics and entrepreneurs to contribute their innovative ideas with the potential for pilot opportunities and deep-dive engagements with Transocean in the future. Finalists will have the opportunity to pitch their ideas in front of a live audience, and the winning team may be awarded a pilot project with Transocean, offering a real-world testing ground for your innovative solutions.

Challenge Timeline:

Challenge Launch and Information Session: Friday, October 20 (at the Ion)

Submission Deadline: Friday, December 15 (virtual)

Finalist Selection: February 2024 (virtual)

Finalist Demo Day and Winner Announcement: March 2024 (at the Ion)

Attendance at the information session is not required to submit a proposal, and we welcome submissions from around the globe (not just from Houston-based companies). The deadline for submissions is December 15, 2023 at 11:59 PM CT. All proposals should be in PPT or PDF format and include:

8-10 slides with a proposed solution or technology that is adaptable to Transocean's industry and assets
Demonstration of the technology readiness level
Technical details on why and how it is a good fit for the challenge
Risks (technological and commercial) associated with adapting your solution to Transocean's business
Commercials of the proposed solution including modifications needed to implement, as well as manufacturing, lead times, schedule and logistics for field trial
Submissions related to LED lighting, variable frequency drives and biofuels are out of scope and will not be considered

All questions should be directed to Ragen Doyle, Corporate Engagement Officer, at rdoyle@ionhouston.com. Free consultations for startups with IP or other legal concerns are available through Baker Botts. Please contact Ragen to be matched with an attorney.

Frequently Asked Questions (FAQs)
Q: May I submit more than one proposal?
A: Yes

Q: What if I have IP-related concerns?
A: Baker Botts is proud to partner with the Ion by offering complimentary 30-minute legal consultations to startups. During these legal consultations, a lawyer will act as your business and legal partner - available to answer specific questions you may have, identify potential risks and/or provide guidance on any upcoming applications or deadlines. Even if you do not have a specific legal need at this time, we encourage you to take advantage of this great opportunity whenever a question arises! If you are interested in speaking with one of our lawyers, please email ecvc@bakerbotts.com with a brief description of your legal or business needs to help their team schedule you with a lawyer with the appropriate expertise.

Q: Why are biofuels outside of the scope for this challenge? Does this include renewable diesel?
A: We are already engaged with our clients on the use of biofuels and/ or renewable diesel. As these projects are already underway, we are not seeking additional proposals at this time.

Q: Are smaller software engineering consultancies excluded from responding to the open challenge?
A: No company (big or small) is excluded so far as the proposal(s) provide a value-adding product, technology or solution that will Transocean reduce the carbon intensity of its operations.

Transocean Open Innovation Challenge