New Legal Framework for Startups: Petrobras Selects Winners, with Investments of R$ 12.9 Million

After Presentation of Solutions, Petrobras Selected Startups to Develop Tests. Selected Will Be Eligible for Up to R$ 1.6 Million per Proposal

Petrobras made public the list of winning companies from the first selection of innovative solutions based on the new Legal Framework for Startups (MSL). Depending on the challenge, the selected companies could receive up to R$ 1.6 million per proposal for the development and testing of solutions in productive environments, with a total of up to R$ 12.9 million in investments.

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According to Petrobras, this is the highest amount per proposal ever offered by the oil company to date, reaching the limit set by the new regulatory environment created by complementary law 182/21, which went into effect in 2021. The selected startups presented proposals for solutions in the areas of robotics and digital technologies applied to oil and gas, corporate solutions, health, and security.

Petrobras stated that the selection is part of the Solution Testing Module of the Petrobras Connections for Innovation program, which seeks innovative solutions from startups and other companies to conduct tests in a productive environment. These tests aim to accelerate the implementation of innovations, with or without technological risk, that have high potential for generating value for the oil, gas, and energy sector.

Additionally, the Framework allows that, after the innovation contract, the startup solution that shows the best performance and demonstrates adding the most value to Petrobras’s business can be contracted for a period of two years. The term is extendable for another two years for scaling up.

These two phases together will expedite the implementation of startup solutions at Petrobras and the consolidation of these suppliers in the market.

5 Startups Selected by Petrobras and the Challenges

The five startups whose proposals were selected by Petrobras for the Fast Track challenges, focusing on innovative solutions already applied in the market or in validation, will move on to the negotiation and celebration phase of the Public Contract for Innovative Solution (CPSI), which is scheduled for January 2022.

The signed CPSIs will be valid for up to 12 months and extendable for another 12 months to validate technological solutions.

The 21 startups with proposals chosen in the Inception route, which mostly involve innovations with greater complexity for implementation or lower technological maturity, will undergo a period of up to 6 weeks of technical interaction with Petrobras mentors, who will provide support to detail the work plan and mature the business model to be executed.

After this period, a pitch day will be held in which the proposals will be evaluated by a final panel that will select the startups to be formalized.

“Research, development, and innovation enhance the creation of value associated with new business models, and Petrobras directs efforts towards adopting methodologies and mindsets that support a culture of digital innovation aimed at generating results and rethinking processes. The establishment of partnerships and engagement with the open innovation ecosystem are part of this movement”, explained Petrobras’s Director of Digital Transformation and Innovation, Nicolás Simone, in a statement to the press.

In 2021, Petrobras launched four other calls within the Petrobras Connections for Innovation Program. “The company is one of the leading investors in open innovation in the country, with over R$ 35 million invested in 2021”, it states.