UNSW Founders has launched Climate 10x, a new accelerator program set to fast track the development of six Australian startups building 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 entrepreneurial experience, seed investment, and access to industry and government networks to help build and scale deep-tech companies in a developing industry.
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.
Gabriella Nunes, senior manager of Entrepreneurship at UNSW said, “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.”
The program launches when the federal government has a renewed focus on climate action, including the revised 2030 Nationally Determined Contribution (NDC), as well as university efforts to fast-track climate research.
Professor Emmanuel Mastio, executive director at Trailblazer for Recycling and Clean Energy said, the 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.
He said, “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, “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.
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