UNSW Founders has introduced a new accelerator program called Climate 10x that aims to accelerate the growth of six Australian startups developing high-impact innovations to decarbonise the planet.
The $280 million Trailblazer for Recycling and Clean Energy (TRaCE) program and cleantech venture capital firm Virescent Ventures support the program, which is offering $120,000 in seed funding to each participating startup, with the possibility of additional investment.
Participants will receive invaluable entrepreneurial experience, access to industry and government networks, and opportunities to scale their deep-tech companies in an emerging industry, helping to bring us closer to decarbonising our planet.
The program’s launch coincides with an increased emphasis from the Australian Government on climate action, including the revised 2030 Nationally Determined Contribution (NDC) and university initiatives aimed at expediting commercialise climate research.
The program will provide participants with entrepreneurial experience, seed investment, and access to industry and government networks to help build and scale deep-tech companies in a developing industry. Applications for the program are open until May 29, and it will start on August 2.
According to Gabriella Nunes, Senior Manager of Entrepreneurship at UNSW, decarbonising the planet requires a multifaceted approach involving innovation, collaboration, and game-changing technology.
To achieve this goal, it is necessary to provide the right skills, networks, and investment capital to the next generation of entrepreneurs in order to scale their solutions rapidly. As Australia’s leading entrepreneurial university and a powerhouse institution at the forefront of climate and sustainability research and discovery, UNSW has partnered with Virescent Ventures and TRaCE to launch Climate 10x, which aims to empower founders who are making a significant impact in decarbonisation and accelerate Australia’s transition to a renewable economy.
Professor Emmanuel Mastio, Executive Director at Trailblazer for Recycling and Clean Energy, emphasised the importance of collaboration between UNSW Founders, Virescent Ventures, and TRaCE in providing a fertile ground and resources for entrepreneurs to develop scalable and commercially viable solutions to address our carbon-emitting economy.
Blair Pritchard, Partner at Virescent Ventures, added that investing in founders and companies that are scaling innovative technologies and business models is at the core of their work. They are excited to partner with UNSW Founders and TRaCE on Climate 10x to fund startups that will accelerate the transition to net-zero.
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.