A new start-up accelerator program dedicated entirely to fast-tracking the commercialisation of innovative energy market technologies and solutions has been launched in Australia.
The program – a collaboration between major gentailer EnergyAustralia and London-based outfit Startupbootcamp – invites start-ups from around the world to enter their ideas on energy efficiency, energy independence, digitisation and analytics.
More specifically, as indicated in the graphic below, the program’s key focus areas will be on innovations in the Internet of Things, energy sharing and trading, smart grid technologies, and blockchain-based software programs.
Successful applicants will take part in a 13 week accelerator program that claims to fast track the development of their ideas by up to 18 months, with the added general benefit of bringing some of the world’s “best and brightest” energy minds out of their garages and over to Melbourne.
As the website says, the intense three-month “boot-camp” will give each of the selected startups hands-on mentorship from over 100 industry experts, free office space, seed funding, and access to a global network of investors with the ultimate goal of scaling their businesses and becoming industry-leading companies.
“The accelerator program is about making those great ideas real and developing the next innovation that helps customers use energy in ways that save them money and help the environment,” EnergyAustralia NextGen executive, Andrew Perry.
“In this rapidly changing sector we want to continue meeting the energy needs of our customers and that requires foresight and agility. We know there are startups out there that can really disrupt the sector, they just need support to get off the ground.”
The program has kicked off with a three-month “recruitment callout” – applications close on October 27 – with up to 10 startups to be selected and invited to Melbourne to participate in the accelerator “boot camp”.
After being mentored, coached and advised by industry experts and entrepreneurs, the start-ups will be required to pitch their technology, service or business model to the program’s partners, investors and other interested stakeholders including government and energy retailers.
“By bringing the best and brightest minds to Melbourne instead of seeking them out in Silicon Valley, we’re building on this city’s reputation as an innovation hub,” Perry said.
“Success means delivering reliable, affordable and cleaner energy for all Australians. We’re looking for the next wave of innovative ideas to make that happen, whether it be us that picks it up or someone else.”