Australia’s leading clean energy accelerator EnergyLab will establish a base in Brisbane, with the assistance of $400,000 in State Government funding.
Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said EnergyLab’s expansion into Queensland would help deliver the Palaszczuk Government’s vision for a $1 billion industrial biotechnology and bioproducts sector.
Mr Dick said EnergyLab’s acceleration program was designed to translate great clean energy and biotechnology ideas into commercial reality.
“The EnergyLab program will provide entrepreneurs with business coaching, connections to a network of investors, mentors and partners, and assistance in raising capital,” Mr Dick said.
“This accelerator will initially provide four start-ups with a longer cycle of support than most accelerators, of between six and 24 months.
“It will provide access to a network of more than 100 industry-specific mentors who can assist start-ups with the best foundation to commercialise their business ideas.”
Four start-ups have been selected to join the first Brisbane cohort:
- Cirlution: A biofutures start-up that plans to capture the maximum value from food waste and convert it into clean energy and heat.
- Ƒluxpower: An electricity payments network that responds in real-time.
- Charge Cube: An affordable, modular solar battery system targeted at the 1.2 billion people in developing countries living without electricity.
- Sunshine Cycles: A solar-powered electric bike hiring service.
Mr Dick said to leverage the government’s Biofutures 10-Year Roadmap and natural advantages in Queensland, EnergyLab proposed to focus on developing start-ups in the biofutures and clean energy sectors.
Environment Minister Leeanne Enoch congratulated EnergyLab for helping clean energy entrepreneurs take their ideas to the next level.
“This government is getting behind this important program to help Queenslanders set up and grow clean energy businesses,” Ms Enoch said.
“Our investment will strengthen the early stage commercialisation pipeline for clean energy start-ups in Queensland – supporting the government’s efforts to transition to a low carbon economy.
“This program can help stimulate regional economic growth while delivering good environmental outcomes.”
EnergyLab’s Queensland base is being jointly funded by the Department of State Development, Manufacturing, Infrastructure and Planning and the Department of Environment and Science at a cost of $400,000 over a two-year period.
The Australian Government’s Clean Energy Finance Corporation (CEFC) provides seed capital to the EnergyLab start-up companies, via the $200 million Clean Energy Innovation Fund.
The four EnergyLab Queensland start-ups will be hosted in the CEFC’s Brisbane office.
EnergyLab first launched its acceleration program in Sydney last year, and has recently expanded across the country. There will be a further intake of start-ups in Queensland in early 2019.
Minister for State Development, Manufacturing, Infrastructure and Planning
The Honourable Cameron Dick
Minister for Environment and the Great Barrier Reef, Minister for Science and Minister for the Arts
The Honourable Leeanne Enoch