Search for technology stars of the future

Ten companies were recently shortlisted in Shanghai and London, with the overall winner set to receive $10,000 toward the development of their business idea.

The event, called Castrol 20/20 Challenge, was launched earlier this year to invite companies, start-ups and innovators to create disruptive technologies or business models.

Aside from bringing their business proposals to life, the winning team will also be given an opportunity to explore the possibilities afforded by a longer-term relationship with the UK-based motor oil and lubricants maker Castrol.

"The Castrol 20/20 Challenge is an exciting event for us and is helping us to explore future business opportunities beyond our current portfolio - we are excited to invest in innovative and different technologies and we look forward to partnering with some great new businesses," said Mike Johnson, CEO of Castrol.