Brinc and Artesian are launching an Australia Clean Energy Accelerator Program in April 2020, held in Sydney, in order to boost the next generation of clean energy startups.
The program will aim to identify start ups that are helping to build technology solutions to address Australia’s pressing energy efficiency, optimisation, and emission challenges for industrial applications.
Examples of challenges to be targeted in this program include electrical efficiency technologies, electrical grid innovations, and renewable energy solutions.
The program will offer $260,000 AUD in exchange for equity. The offer is a combination of cash ($150,000) and support ($110,000) through the program and post-program.
The program will focus on facilitating commercial agreements with Australian Energy companies to help scope and secure pilots/POCs, while also opening up growth opportunities locally and internationally for companies.
Upon completion of the program, Brinc will continue to support company growth through business development, provide capital raising guidance, and ensure a deep connection to the growing Brinc family of founders globally.
Artesian will also provide follow on capital to companies that demonstrate traction. Beyond this, companies can benefit from Brinc’s Services division in China to source components, identify relevant factories, and set up robust supply chains required to fulfil orders to their customers.
Artesian Venture Partners (AVP) is Australia’s largest and most active early-stage venture capital firm that focuses on the Asia-Pacific region with offices in Sydney, Melbourne, Singapore, and Shanghai.
The accelerator program will be supported by Artesian’s Clean Energy Seed Fund, which aims to invest in scalable and high growth startups to encourage innovation and create opportunities in the development of clean technology.
Through the program, Artesian hopes to contribute to and help grow the dynamic clean energy startup ecosystem in Australia.
Artesian also currently backs Brinc’s Greater Bay Area (Hong Kong & Mainland China) accelerator programs and together have invested in 57 startups.
Head of VC at Artesian, Luke Fay, said, “Artesian is very excited that Brinc has identified an opportunity in Australia around Clean Energy technology.
“Brinc brings a wealth of knowledge and program expertise across Clean Energy, Manufacturing, Food Technology, and Hardware & IoT. It has global experience working with startups in Hong Kong, China, Spain, Bahrain, Poland, and India.”
Australian Clean Energy Council Chief Executive, Kane Thornton, said, “The vision of an Australia powered by clean energy is now well and truly in sight.”
Investments in the sector doubled to more than $20 billion in 2018 and 87 large-scale renewable projects were under construction or financially committed at the beginning of 2019.
Although 21 per cent of total electricity generation is already from renewable resources, he claims that there is much more to be done in “improving the grid and energy market and how it integrates renewable energy and energy storage”.
At the federal level, Australia is targeting to reduce carbon emissions by 26-28 per cent below 2005 levels by 2030 under the Paris Agreement. Individual states have also set ambitious energy efficiency and renewable energy targets backed by state government measures.
Additionally, Australia’s natural climate and landscape are highly conducive for Clean Energy technology testing and implementation.
The region has more solar potential than any other developed nation as over two million Australian households have solar rooftops.
In 2018, an average of six solar panels were installed per minute in Australia. They also have huge onshore and offshore wind resources and an opportunity to replace aging coal-fired power stations that generate two-thirds of the country’s energy.
Brinc Founder & CEO, Manav Gupta, said, “If our forefathers had looked up, instead of down, our energy landscape would be very different that it is today.
“We would have significantly fewer issues than we do today due to climate change and a warming world. We have an opportunity to reimagine technology stacks, business models, hardware and software applications and services, data gathering and analysis, and so much more in the Energy space.
“We’re excited to back the best climate and energy game changers in Australia as we all work towards developing a more sustainable foundation for our growing energy needs.”
Brinc’s portfolio includes 110 startups with a total cumulative value of over USD$250 Million. In addition to the Clean Energy accelerator program, Brinc runs eight other programs focused on hardware and IoT, manufacturing, food technology, and alternative protein.
Additionally, Brinc launched a Greater Bay Area Clean Energy program in 2019, where two startups from their first cohort are working on commercial pilots with Schneider Electric.
Applications are open for their Australia Clean Energy Accelerator Program.
Brinc will be accepting applications throughout the year and startups will be accepted to the program on a rolling basis to allow for a more customized and tailored curriculum for each company.
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