UNSW Founders, the university’s incubator wing, has today launched Climate 10x, a new accelerator program that will provide seed investment, mentoring and industry access for six Australian start-ups that demonstrate significant climate impact.
Climate 10x will be looking for start-ups whose technological offerings either significantly reduce emissions, generate renewable electricity and circular materials, or adapt existing infrastructure to facilitate the energy transition.
The program is backed by UNSW’s $280 million Trailblazer for Recycling and Clean Energy (TRaCE) program, and clean tech venture capital firm Virescent Ventures, which has committed $120,000 in seed funding to each of the startups accepted into the program.
Applications for the program are open until the 19th May, for an August 2nd start. Participants will benefit from ten weeks of industry mentorship, $140,000 total seed funding, networking opportunities and a pitching event to investors at the Climate 10x Demo Night.
“After decades of inaction, the challenge of decarbonising the planet requires a multifaceted approach that involves a combination of innovation, collaboration and game-changing technology,” said Gabriella Nunes, Senior Manager of Entrepreneurship at UNSW.
“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.”
“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,” added Professor Emmanuel Mastio, Executive Director at TRaCE.
“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.”
“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,” said Virescent Ventures Partner Blair Pritchard.
“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.”
