UNSW Founders has launched Climate 10x, a new accelerator program set to fast track the development of six Australian startups building high-impact innovations to decarbonise the planet.
Backed by the $280M Trailblazer for Recycling and Clean Energy (TRaCE) program, and clean tech venture capital firm, Virescent Ventures, the program will provide participants with unmatched entrepreneurial experience, seed investment, and access to industry and government networks to help build and scale deep-tech companies in a developing industry and ultimately bring us one step closer to decarbonising our planet.
Virescent Ventures has committed $120,000 in seed funding to each of the startups accepted into the program, with the potential for follow-on investment.
The program launches at an important time with a renewed focus from the Australian Government on climate action, including the revised 2030 Nationally Determined Contribution (NDC), as well as university efforts to fast-track commercialisable climate research.
Gabriella Nunes, Senior Manager of Entrepreneurship at UNSW, says: “After decades of in-action, the challenge of decarbonising the planet requires a multifaceted approach that involves a combination of innovation, collaboration and game-changing technology. To achieve this goal, we must wrap the right skills, networks and investment capital around the next-generation of entrepreneurs – to scale their solutions rapidly.
The University of New South Wales (UNSW) is both Australia’s leading entrepreneurial university and a powerhouse institution at the forefront of climate and sustainability research and discovery. Together with our partners at Virescent Ventures and as part of TRaCE, Climate 10x will empower founders who are moving the needle on decarbonisation, and play a significant part in accelerating Australia’s transition to a renewable economy.”
Professor Emmanuel Mastio, Executive Director at Trailblazer for Recycling and Clean Energy, says: “Collaboration between UNSW Founders, Virescent Ventures and TRaCE is vital to providing a fertile ground and resources for entrepreneurs wanting to develop scalable and commercially viable solutions to address our carbon emitting economy. Climate action has historically troubled our nation, so the Climate 10x program is here to support recently strengthened regional and national political strategies whilst helping Australia transition to an economic and environmentally sustainable society.”
Blair Pritchard, Partner at Virescent Ventures further said: “Investing in founders and companies that are scaling innovative technologies and business models is at the core of what we do. We are excited to be partnering with UNSW Founders and TRaCE on Climate 10x, to fund startups that will accelerate the transition to net zero. The companies that participate in Climate 10x will learn from the deep sector expertise of UNSW Founders, TRaCE, Virescent and our combined networks. They will form a network themselves of like-minded founders, mentors and industry leaders who are committed to supporting the growth of the climate tech industry in the coming decade.”
Climate 10x is open to all Australian startups building innovations that significantly reduce emissions, generate renewable energy and circular materials, and adapt existing infrastructure to facilitate the energy transition. Applications for the program are open until 29 May for an August 2 start.
