Q&A with Andrea Course, venture principal, Shell Ventures
1. First, just give us a quick overview of who you work for, what you do, and how long you have been doing it.
I have been working as a venture principal for Shell Ventures since April 2019. I invest in innovative startup and scale-up companies that can help accelerate the energy transition, specifically in the areas of robotics, machine learning and AI. In addition to carbon management and other solutions such as carbon capture, carbon utilisation and methane detection. Prior to joining Shell, I worked as venture principal at Schlumberger Technology Investments for two years, but technology has always been my passion. Prior to doing investments, I worked on research and new product development for over eight years.
2. What attracted you to corporate venture capital (CVC)?
I am passionate about working with new technologies and energetic entrepreneurs, helping them grow. Constantly being on the lookout for promising companies is very rewarding and allows me to be constantly learning about new things. Corporate venturing is really exciting because we get a chance to not only financially support the companies we work with but we are also in a position to help them scale by providing opportunities to deploy their technologies. It makes me feel like my work has an impact.
3. What have been your greatest successes at your unit?
The most rewarding part of my job is when I am able to help our portfolio companies grow. The pandemic was a great example of how we came together as a team to support our startups weather the storm, supplying them with timely information and emergency support. In addition to this, as a self-proclaimed environmentalist, I am really proud of the strong focus on decarbonisation and renewable power Shell Ventures currently has, and how that is advancing the energy transition in the mobility and power sectors. On the personal side, I am very proud of having made the switch from engineering to the VC world and how this has allowed me to help others in the same position.
4. What have been your biggest challenges?
The O&G industry is very risk-averse and rightly so, but we cannot be complacent about technology and lag behind. We need to disrupt or we will be disrupted. We need to take advantage of the opportunities new technologies create and start changing the culture and the mindset of our industry.
5. What is your main professional ambition for the future?
To keep learning new things and continue my personal development. I would like to continue pushing boundaries and leading initiatives and people towards a sustainable future.
6. What do you think all CVCs could do better to make it a stronger industry?
Two main things come to mind. The first one is collaboration. I believe we can all prosper if we as an industry work together. We need a stronger ecosystem, not islands. Secondly, we need to increase our diversity and inclusion and ensure not only that we are investing in minority-led companies but also that we are consciously promoting minorities to positions where they can be the decision-makers.
7. What are some of your corporate parent’s technology needs and corporate strategy amid the pandemic, as well as your CVC unit’s pain points?
We remain committed to our portfolio companies, now more so than ever. We’re not going anywhere and we’re here to provide insights, advice and a customised approach to help each company weather this storm. In April 2020, Shell announced it has significantly raised its ambitions in relation to our own emissions. The aim is to be a net-zero emissions energy business by 2050, or sooner, in step with society. This is going to take a lot of work. We are on a journey and recognise the need to change. We must also work with our customers as their needs are evolving too.
8. And, finally, for colour, what did you do prior to CVC or in your spare time?
Previous to working in ventures, I worked in many different positions, mostly technical, such as product manager, product analyst, engineering manager, subsea design engineer and even rocket scientist.
