- Cook Government's Founders Factory Nature Tech Accelerator program begins
- Six nature tech start-ups confirmed as the first participants after an extensive selection process
- Start-ups to benefit from expertise of one of the world's most acclaimed commercialisation accelerators
A project developing 'plant factories' to grow food in space and a start-up producing seaweed compounds to reduce methane emissions from cattle are among the inaugural participants the Founders Factory WA Nature Tech Accelerator program.
Announced earlier this year, the Cook Government's Nature Tech Accelerator partnership with global start-up accelerator Founders Factory has selected six early-stage start-ups to receive seed capital and expert support.
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 - with its new Perth-based accelerator backed by a $7.2 million Cook Government investment.
Each enterprise will receive $50,000 funding to support their enterprise in the early development, often pre-revenue stage. The start-ups will be involved in a four-month intensive support program where they will receive wraparound, bespoke support to help them grow their enterprises.
The accelerator program will run over three years and mitigates the need for ambitious local start-ups to exit the State to pursue their global scaling goals.
The six successful start-ups are:
- SeaStock - producing and extracting compounds derived from seaweed;
- Agra - sustainable crop production systems producing crops at same price as traditional field agriculture;
- OceanHex - marine restoration through innovative, scalable kelp reforestation technology;
- Nitronic - sustainable nitrogen fertiliser production through non-thermal plasma technology;
- Call to Country - empowering organisations to embed cultural competency and Indigenous engagement into core operations; and
- X-Centric - high performance soil testing instruments.
For more information and for start-ups looking to apply see: Western Australia Government & Founders Factory Nature Tech Program - Founders Factory
As stated by Innovation and the Digital Economy Minister Stephen Dawson:
"Supporting unique nature start-ups to expand and thrive on a global scale is key to our Government's goal of diversifying and decarbonising the State's economy.
"WA has a thriving nature-based innovation sector, and I'm pleased that local projects will be able to access a global network of investors and experts, without leaving the State.
"Founders Factory is renowned worldwide as being one of the best commercialisation accelerators and having the opportunity to nurture local start-ups here is an incredibly valuable opportunity.
"I am looking forward to the continued innovations to come from not only these selected six but for what the next few years hold for the WA Nature Tech Accelerator program."
