UNSW launches Climate 10x accelerator program
UNSW Founders has launched Climate 10x, a new accelerator program set to fast track the development of six Australian startups building high-impact innovations to decarbonise our planet.
Backed by the $280 million Trailblazer for Recycling and Clean Energy (TRaCE) program, and clean tech venture capital firm, Virescent Ventures, the program will provide participants with unmatched entrepreneurial experience, seed investment, and access to industry and government networks to help build and scale deep-tech companies in a developing industry and ultimately bring us one step closer to decarbonising our planet.
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.
The program launches at an important time with a renewed focus from the Australian Government on climate action, including the revised 2030 Nationally Determined Contribution (NDC), as well as university efforts to fast-track commercialisable climate research.
UNSW senior manager of entrepreneurship Gabriella Nunes says, “After decades of in-action, the challenge of decarbonising the planet requires a multifaceted approach that involves a combination of innovation, collaboration and game-changing technology. 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.
“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.”
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. Applications for the program are open until 29 May for an August 2 start.
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