Winners will be announced by March 2018
This awards program is exclusively for OTC exhibitors and showcases the latest and most advanced technologies that are leading the industry into the future.
Technologies to be considered for the Spotlight on New Technology® must meet five general criteria: new, innovative, proven, broad interest, and significant impact. Both hardware and software technologies are applicable.
Applications for the 2019 Spotlight on New Technology® will open in August.
Note there is a USD 2500 application fee per company, per technology.
A committee made up of representatives from the OTC Board and program committee will judge the applications. Only information submitted in writing will be considered by the judges.
New. The technology must have been offered to the marketplace in a ready-for-commercialization state less than two years prior to the application date (between 13 December 2015 and 13 December 2017). If previously advertised at OTC, it must not have been displayed for more than one conference. The technology must not infringe any known patents or other intellectual property rights of any third party.
Innovative. The technology must be original, groundbreaking, and capable of having a major impact on the offshore E&P industry. For example, an improvement in efficiency of an existing motor would not be considered unless it had the potential to change the way in which the motor would be used in the industry.
Proven. The technology must be proven, either through full-scale application or successful prototype testing. For example, a proposed new type of software in the development phase would not be considered applicable to this program.
Broad Interest. The technology must have broad interest and appeal for the industry. For example, a new type of valve would not be considered new technology or of broad interest if it were simply a replacement of a previous valve at lower cost. However, the new valve might be considered to have broad interest if it had the potential to change the way in which valves impact or are used in the wider system that utilizes the valve.
Significant Impact. The technology must provide significant benefits beyond existing technologies. Environmental impact is an important judging criterion.
OTC has a Small Business Award, in support and recognition of innovative technologies being developed by small businesses (fewer than 300 employees). Up to two companies may receive this prestigious award.
These winners will receive the same benefits listed above, but with the added recognition as a “Small Business Award” winner.
Small businesses will still be considered for the primary Spotlight on New Technology® Award. This new award is simply an additional opportunity for small businesses to have their technologies considered.
Small Business Award Requirements
In order to be considered for the Small Business Award, your company must: