OUR GREAT MINDS

    by Tina Olivero

    GENESIS: Working with ExxonMobil & HMDC Developing Innovation Hub

    Genesis is working with ExxonMobil Canada Properties and Hibernia Management and Development Company Ltd. to foster early-stage technology innovation in the energy sector.

    Genesis is an innovation hub that supports startups from ideation to scaling their business. ExxonMobil Canada Properties is the operator of the Hebron project; Hibernia Management and Development Company Ltd. is the operator of the Hibernia project.

    GENESIS INNOVATION HUB: New positions

    With funding from the two projects, Genesis will work with Creative Destruction Lab (CDL), a non-profit organization that helps accelerate growth for seed-stage technology and science-based companies.

    Two new positions will be created at Genesis. The first position is a venture manager to help recruit local startups into Creative Destruction Lab. The second is for an additional success manager to help tech companies within Genesis’ existing programs develop solutions for the energy industry.

    “At our core, ExxonMobil is a technology company focused on energy solutions,” said Ryan Noseworthy, vice-president, ExxonMobil Canada. “We are excited to collaborate with Genesis and CDL to support the regional startup community and advance exciting innovations for our industry.”

    “Hibernia was the foundation for our offshore industry, and the team has been reliably producing for 24 years,” said Stephen Edwards, president, Hibernia Management and Development Company Ltd. “We are optimistic this relationship with Genesis and CDL will help us identify technology solutions to support a longer life for our world-class Hibernia asset.”

    Ocean technology and energy companies

    Atlantic Canada is the fastest-growing, early-stage ecosystem in North America, as ranked by Startup Genome in 2019. Genesis and CDL have each expanded to provide assistance to more emerging startups in the region.

    Both organizations are already partners on the Ocean Startup Project. This new collaboration will lead to further support for ocean technology and energy companies in Newfoundland and Labrador.

    “CDL-Atlantic is committed to showcasing the talent of all four Atlantic Canadian provinces, and to date Newfoundland and Labrador has provided some of our strongest alumni companies,” said Jeff Larsen, associate vice-president, entrepreneurship and innovation, Dalhousie University, and site lead, CDL-Atlantic. “This relationship will help us to deepen our connections in Newfoundland and Labrador with the goal of increasing the number of ventures and mentors from the province.”

    “This collaboration is another important milestone for us to continue building amazing companies,” said Michelle Simms, president and CEO of Genesis. “Many of our clients develop technologies that are directly or indirectly applicable to the energy supply chain, they share an interest in safety at sea and reduced carbon emissions and see our province as the perfect place to validate, test and grow these innovations.”

    About Hebron

    ExxonMobil Canada Properties (35.5 per cent) is the operator of the Hebron project. Its co-venturers are Chevron Canada Ltd. (29.6 per cent), Suncor Energy (21 per cent), Equinor Canada Ltd. (9 per cent) and Nalcor Energy-Oil and Gas Inc. (4.9 per cent). For more information about the Hebron project, visit www.hebronproject.com.

    About Hibernia Management and Development Company Ltd.

    Hibernia Management and Development Company Ltd. (HMDC) is the operator of the Hibernia field, which began petroleum production offshore Newfoundland and Labrador in November 1997. HMDC is owned jointly by ExxonMobil Canada (33.125 per cent), Chevron Canada Resources (26.875 per cent), Suncor Energy (20 per cent), Canada Hibernia Holding Corporation (8.5 per cent), Murphy Oil Company Ltd. (6.5 per cent) and Equinor Canada Ltd. (5 per cent).

    About Creative Destruction Lab

    Creative Destruction Lab is a not-for-profit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. Its nine-month program allows founders to learn from experienced entrepreneurs, increasing their likelihood of success. Founded in 2012 by Prof. Ajay Agrawal at the University of Toronto’s Rotman School of Management, the program has expanded to 10 sites across four countries: Oxford (Saïd Business School, University of Oxford); Paris (HEC Paris); Atlanta (Scheller College of Business, Georgia Institute of Technology); Madison (Wisconsin School of Business, University of Wisconsin-Madison); Seattle (Foster School of Business, University of Washington); Vancouver (Sauder School of Business, University of British Columbia); Montreal (HEC Montréal); Calgary (Haskayne School of Business, University of Calgary); and Halifax (Rowe School of Business, Dalhousie University). It now includes 16 streams: AgTech, Artificial Intelligence, Blockchain, Climate, Commerce, Energy, FinTech, Health, Matter, Neuro, Oceans, Prime (General Technology), Quantum, Risk, Space and Supply Chain. The successful commercialization of cutting-edge science and technology achieved through the program has led to the creation of more than $15 billion in equity value.

    About Genesis

    Established in 1997, Genesis exists to help build amazing companies. Genesis clients and graduates have raised more than $644 million in private investment, generated more than $220 million in annual revenues and created more than 2,500 jobs. Genesis alumni are among some of the top companies in Canada, including Verafin, Rutter, Mysa, Virtual Marine and Genoa Design. To learn more about Genesis and its innovative programming, visit www.genesiscentre.ca.

    Tina Olivero

    30 years ago, Tina Olivero looked into the future and saw an opportunity to make a difference for her province and people. That difference came in the form of the oil and gas sector. Six years before there was even a drop of oil brought to the shores of Newfoundland, she founded The Oil and Gas Magazine (THE OGM) from a back room in her home on Signal Hill Road, in St. John’s, Newfoundland. A single mother, no financing, no previous journalism or oil and gas experience, she forged ahead, with a creative vision and one heck of a heaping dose of sheer determination. With her pioneering spirit, Ms. Olivero developed a magazine that would educate, inspire, motivate and entertain oil and gas readers around the world — She prides herself in marketing and promoting our province and resources in unprecedented ways. The OGM is a magazine that focuses on our projects, our people, our opportunities and ultimately becomes the bridge to new energy outcomes and a sustainable new energy world. Now diversifying into the communications realms, a natural progression from the Magazine, The OGM now offers an entirely new division - Oil & Gas Media. Today, The Oil and Gas Magazine is a global phenomenon that operates not only in Newfoundland, but also in Calgary and is read by oil and gas enthusiasts in Norway, Aberdeen, across the US and as far reaching as Abu Dhabi, in the Middle East. Believing that Energy is everyone’s business, Ms. Olivero has combined energy + culture to embrace the worlds commitment to a balance of work and home life as well as fostering a foundation for health and well being. In this era of growth and development business and lifestyle are an eloquent mix, there is no beginning or end. Partnering with over 90 oil and gas exhibitions and conferences around the world, Ms. Olivero's role as a Global Visionary is to embrace communication in a way that fosters oil and gas business and industry growth in new and creative ways.

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