The Tasmanian Liberal Government is to invest $150,000 into an energy and IoT startup accelerator to be led by EnergyLab.
Minister for Science and Technology, Michael Ferguson, said the funding would support local tech start-ups to develop their ideas, guide them over the hurdles of creating innovative products, and take their concepts to market.
“It will also capitalise on EnergyLab’s international energy and business networks to attract global talent, partner and collaborate with local entrepreneurs, and provide mentoring to help new Tasmanian businesses establish themselves in this rapidly growing marketplace,” he said.
Ferguson said the Energy-IoT Hardware Acceleration Program would provide solutions to the challenges faced by clean energy startups and help put Launceston on the map as a location for innovation and entrepreneurial development in clean energy,
“Clean energy startups are particularly challenging enterprises that have to tackle everything from business planning, hardware development and design, manufacturing, regulation, incumbent players, and the time it takes to overcome these issues.”
He said EnergyLab had been selected to establish and operate the accelerator through a competitive expression of interest process run by the Office of the Coordinator-General.
“It is anticipated that additional partners will also join the Tasmanian Government’s Start-up Accelerator program in the near future.”
The funding is part of $900,000 the government is spending to “help turn the concepts of Tasmania’s best and brightest into viable, real-world products and services.”
Ferguson said the funding would complement the government’s commitment to Tasmania’s burgeoning start-up community via the Enterprize Hubs in Launceston and Hobart.
“The program will reach, support and inspire local entrepreneurs, innovators and founders to develop and innovate within the clean energy sector.”
In 2016 The Tasmanian Government invested $100k into a LoRaWAN network in Launceston.
According to its website EnergyLab runs Australia’s largest acceleration program for cleantech startups and is the first port of call for any startup looking to raise seed capital
Its principal sponsor is Origin Energy and it is also supported by Climate-KIC Australia, “a knowledge innovation community dedicated to creating a climate resilient, liveable and thriving Australia for all by catalysing transformative, cross-sectoral responses to climate change.”
UTS hosts EnergyLab’s headquarters in Sydney and it is also supported by Jobs for NSW and the Queensland Government.
It is part of the New Energy Nexus, an international organization that supports clean energy entrepreneurs with funds, accelerators and networks.
