The Cook Government has unveiled the first investments from its AUD $7.2 million State programme in collaboration with global tech accelerator Founders Factory. Six innovative startups have been selected to receive initial support, marking a significant step towards fostering climate-focused innovation in Western Australia. This partnership aims to bolster the local startup ecosystem, ensuring that emerging companies can scale globally without relocating.
Accelerating Climate Innovation in WA
The Founders Factory Nature Tech Accelerator is designed to attract climate-focused innovators to Western Australia. By providing seed capital and comprehensive support, the programme seeks to nurture technological advancements that protect the natural world and enhance biodiversity. The selected startups each receive AUD $50,000 in seed funding, enabling them to advance their projects during the early, often pre-revenue stages.
- SeaStock: Focuses on producing and extracting compounds from seaweed and gas.
- Agra: Offers sustainable crop production systems.
- OceanHex: Works on scalable kelp reforestation.
- Nitronic: Produces sustainable nitrogen fertiliser through non-thermal plasma technology.
- Call to Country: Embeds cultural competency and indigenous engagement in business operations.
- X-Centric: Develops high-performance soil testing instruments.
These startups represent a diverse range of solutions addressing critical environmental challenges, positioning Western Australia as a hub for sustainable innovation.
Comprehensive Support for Startups
The Nature Tech Accelerator programme spans three years, providing startups with the necessary resources to achieve global scaling objectives without leaving the state. Founders Factory, renowned for its presence in major tech hubs like London, Milan, Berlin, Johannesburg, and New York, is establishing a dedicated team in Perth to drive the growth of local startups.
Programme Features:
| Feature | Description |
|---|---|
| Duration | Three years |
| Seed Capital | AUD $50,000 per startup |
| Support Structure | Wrap-around, bespoke support over four months |
| Global Integration | Access to international tech hubs and networks |
| Local Focus | Emphasis on climate-related technologies and biodiversity |
This structured support ensures that startups receive not only financial backing but also strategic guidance, networking opportunities, and access to cutting-edge resources.
Building a Sustainable Startup Ecosystem
The partnership between the Cook Government and Founders Factory underscores a commitment to strengthening Western Australia’s innovation landscape. By focusing on climate-related technologies, the programme aims to enhance local talent and attract national and international startups looking to establish or expand their operations in the region.
Minister Stephen Dawson highlighted the significance of the initiative, stating, “Founders Factory is renowned worldwide as being one of the best commercialisation accelerators and having the opportunity to nurture local startups here is an incredibly valuable opportunity.” He further emphasized the programme’s potential to drive continuous innovation and support the growth of WA’s startup community.
Benefits of the Accelerator:
- Local Retention: Prevents startups from relocating to achieve global scaling.
- Economic Growth: Stimulates the local economy through the creation of sustainable businesses.
- Environmental Impact: Promotes technologies that contribute to biodiversity and climate protection.
- Community Engagement: Encourages the integration of indigenous knowledge and cultural competency in business operations.
These benefits collectively contribute to a resilient and dynamic startup ecosystem, capable of addressing both local and global environmental challenges.
Future Prospects and Impact
As the Nature Tech Accelerator programme unfolds, its impact on the selected startups and the broader Western Australian economy will be closely monitored. The initiative is expected to generate significant advancements in climate technology, fostering innovations that can be replicated and scaled internationally. Additionally, the programme’s emphasis on sustainability and biodiversity aligns with global efforts to combat climate change and preserve natural ecosystems.
The Cook Government’s investment in this accelerator is part of a larger strategy to position Western Australia as a leading destination for world-class researchers and innovators. By concentrating on climate-related technologies and providing essential support to emerging companies, the programme aims to create lasting solutions that benefit both the environment and society.
