Prospect Mining Studio supports startups of all stages, forward-thinking innovators, and prominent researchers as they build, pilot, and scale frontier technologies that will advance the natural resource and mining industries with a focus on sustainable and socially responsible solutions. A catalyst for change in the industry, the studio is a partnership between leading Indian mining conglomerate, the Vimson Group, and innovation hub, Newlab. Each 12-month program cycle explores new possibilities in mining by bringing together startups, entrepreneurs, mining industry experts, venture partners, and leading academics from across the globe to define challenges, prototype rapidly, and implement pilots at mining sites, all while building efficiencies, measuring impact and disrupting the status quo.
- Bring together frontier technologies and applied entrepreneurship to address the mining industry’s most pressing challenges around efficiencies, future of workforce, data optimization and reducing carbon footprint
- Establish partnerships between mining industry leaders and innovators from startup and academic research communities
- Validate and advance solutions to market through piloting at mining sites
- Create unique investment deal flow to commercialize technologies and scale businesses that gain traction in the Studio
PROGRAM CYCLE 2
Jan – March 2021
Jun – Sept 2021
Prospect believes a range of emerging technologies will create impactful, scalable opportunities across the $1T mining industry. Prospect Mining Studio will touch all aspects of the mining value chain, leveraging technologies from a range of sectors and many from outside of the industry. For the second cycle of the program, the Studio will aim to deliver opportunities to the mining industry within the application areas described below.
We are proud to announce the addition of the Canada Mining Innovation Council (CMIC) as a partner who will be supporting a subset of startups in the program. Startups operating in CMIC’s application area described below will have the opportunity to work with Prospect and be fast-tracked for pilot opportunities with the member organizations of the CMIC consortium, who are global industry leaders in mining.
- You are applying transformative technology to solve big challenges in the mining industry
- You are building a business that can create positive impact
- You want to be part of a global community of innovators
What we offer:
- Equity Free Participation
- Prospect Mining does not take any equity from startups to engage in the Studio.
- Gain Traction in Mining
- Prospect is focused on product development and getting startups to deploy pilots in real-world test environments.
- Possibility for Investment
- Prospect makes select investments in companies based on the Studio’s focus areas; participation in the Studio does not guarantee investment.
- Ecosystem Development
- Startups get visibility and new connections with mining companies from around the world
As part of the Studio, these startups will work to define critical gaps in the mining industry, develop prototypes, and pilot their solutions at mining sites in order to solve the industry’s most significant sustainability challenges and reduce waste streams across the mining value chain. The Studio’s focus areas include: reducing operational costs, improving the energy efficiency of ore processing, and establishing alternative, low-carbon energy storage infrastructure.
Applications to Prospect Mining Studio are now closed. Please check back for program updates and future opportunities to get involved.
Prospect Mining seeks leading corporate and venture partners who are interested in helping drive innovation in the mining sector. Benefits of partnership include:
- Engagement with a curated portfolio of talented technology entrepreneurs
- Participation in ideation workshops
- Access to cutting edge research
- Engagement with proof-of-concepts and prototypes for partner-driven challenges
- Opportunity to participate in strategic investments
The 12 startups selected to join the Studio will apply sustainable and socially responsible technology solutions to the mining industry.
Kal Tire and Prospect cohort member Pitcrew AI will bring mines autonomous detection of hot tires, tire separations, and other tire and mechanical damage any time, anywhere, and without the vehicle needing to stop.
The global energy transition hinges on a mining industry that is actively deploying disruptive innovation to abate its carbon footprint.
Novamera has closed its $4 million Series A financing round, providing the necessary funds to carry out the first full field trial of its (SMD solution for narrow-vein mining.
XPRIZE has announced that CarbonCure Technologies, CarbonBuilt, Carbon Corp, and Prospect Mining Studio cohort startup Carbon Upcycling have won the $20M NRG COSIA Carbon XPRIZE, a prize that set out to convert CO2 emissions into valuable products.
Exyn Technologies has expanded its partnership with Sandvik Mining and Rock Solutions to integrate Exyn’s data into Sandvik’s analytics and process optimization suite, OptiMine®.
Novamera has partnered with Hochschild Mining, a leading precious metals company in order to advance insight into the development of Novamera’s surgical mining technology, Sustainable Mining by Drilling (“SMD”).
Prospect Mining Studio announces a half-million-dollar investment in its cohort member company CyanoGuard, the Switzerland-based chemtech startup shaping the future of cyanide detection for the gold mining industry.
On December 3rd, Prospect Mining Studio virtually brought together mining companies with forward-thinking startups worldwide to ideate on mining challenges and share insight into concepts and operating environments where new pilots could take place.
From predictive analytics to chemical innovation, data-driven solutions present new opportunities for mining companies to maximize operational efficiency and avoid unnecessary downtime.
Prospect Mining Studio is offering mining start-ups time in the spotlight and supports them in becoming cornerstones in the mining industry of the future. Mining Magazine’s Donna Schmidt investigates.
Can robotics and automated processes help us reimagine mining? Hear from two Prospect Mining Studio startups pioneering the integration of advanced robotic systems that will create a global impact on the industry.
Novel advances in chemistry and biology are being adapted to address one of the mining industry’s biggest challenges: waste.
As corporations continue to navigate their approach to innovation, active startup partnerships and pilots are key opportunities for the entrepreneur and mining operator to come together.
Learn how new visualization platforms and advanced algorithms will help mining companies exceed process objectives while consuming minimal amounts of energy.
Founded in 2016, CyanoGuard is Swiss-based chemtech startup dedicated to shaping the future of cyanide detection, monitoring and optimization for gold mining applications.
We caught up with Apoorv Sinha, CEO of Carbon Upcycling Technologies, who focus is on the conversion of CO2 gas emissions into solid products from point sources such as power plants.
The startup teams in the 2020 cohort will now engage Vimson, Newlab and the supporting ecosystem of experts to progress towards clear milestones.
Prospect Mining Studio, a partnership between the Vimson Group and Newlab, is thrilled to announce the first cohort of startups for the 2020 program cycle!