- Founders Factory Nature & Biodiversity Tech Accelerator launches in Western Australia
- Cook Government partnership with Founders Factory injects $7.2 million to boost investment in local nature and biodiversity start-ups
- Successful local start-ups key to decarbonisation and diversification of WA's economy
Internationally recognised venture studio and start-up accelerator Founders Factory has chosen Perth as the location of its first Australian operation. Supported by $7.2 million in Cook Government funding, Founders Factory's Perth hub will help drive diversification and decarbonisation, with a focus on nature and biodiversity start-ups.
The global tech investor already runs programs in cities including London, Milan, Berlin, Johannesburg and New York, and has backed more than 300 companies around the world. The State Government partnership will now support the growth of Western Australian start-ups.
Founders Factory will build a local team in Perth who will provide a four-month program supporting start-ups with product development, operations, commercialisation, data science, partnerships, and fundraising. The firm will also draw on its global influence to attract international founders to the State for investment, testing and scaling of locally produced technology.
Founded in 2015, Founders Factory seeks to build and fund start-ups in partnership with visionary entrepreneurs and the world's biggest companies.
The Cook Government's investment of $2.4 million a year over three years will establish Founders Factory's Nature and Biodiversity Tech Accelerator program in WA. Key areas of focus include reforestation and protection, land management, regenerative agriculture, water and coastal regions, sustainable infrastructure, and the circular economy.
While the State Government's partnership with Founders Factory will centre on nature and biodiversity, Rio Tinto is also investing in a separate accelerator program to back the development of breakthrough technologies in decarbonisation, exploration processing and remediation.
The Cook Government's economic development framework, Diversify WA, highlights science, innovation and technology as a cross-sector activity that improves value and productivity across the economy.
To learn more about Founders Factory, please visit: https://foundersfactory.com/
As stated by Premier Roger Cook:
"Securing the internationally renowned Founders Factory for Perth is a major coup for our State.
"This is the first time the tech accelerator has operated in Australia, providing a springboard for innovative local businesses to reach an international audience and maximise their chances of success.
"My Government is committed to decarbonising our economy by 2050 and it's vital that we support local start-ups developing the technology to reach this goal.
"This three-year partnership will further cement WA's position as a global leader in research and development, helping to diversify the economy and create the jobs of the future."
As stated by Innovation and the Digital Economy Minister Stephen Dawson:
"Founders Factory is one of the world's most prestigious and successful tech incubators, operating venture studios, accelerators and venture funds at global scale.
"Securing their involvement and this new funding program is a game changer, providing more targeted support for our local nature and biotech start-ups.
"It's fantastic that Rio Tinto is also investing in supporting local start-ups. This is another significant and strategic stepping stone in building our innovation infrastructure and ecosystem and setting up Western Australia as a place of choice for world-leading researchers and innovators.
"Investing in initiatives that fuel ideas and solutions leads to the development of new markets, supports diversification of the WA economy and creates more jobs for Western Australians."
As stated by Founders Factory President George Northcott:
"We believe that entrepreneurs and technology can solve the world's hardest problems. Preserving nature and the decarbonisation of industry are key challenges in the world today and we are thrilled to be extending our operations to Perth to support more founders in these domains.
"We are grateful for the partnership of both the Government of Western Australia and Rio Tinto and believe that in combination we can help more local founders be successful whilst commercialising the best global technologies within the WA ecosystem."
As stated by Rio Tinto Iron Ore Chief Executive Simon Trott:
"Technology has always been at the forefront of our industry and Western Australia can be the Silicon Valley of the global mining industry.
"Our iron ore operations in the Pilbara are among the most technologically advanced in the world. This exciting new partnership gives us the opportunity to build on our innovative legacy to unlock new technologies and help our business find better ways to provide the materials the world needs.
"With the backing of industry and the State Government, local and international start-ups will receive investment opportunities and access to real-world testing and scaling support, helping Western Australia's innovation economy to grow."
