International investors are on the hunt for Australian startups who are building technology solutions to address Australia’s pressing energy efficiency, optimisation, and emission challenges. If you have the idea that could help transform the energy industry, an accelerator program is a fantastic way to quickly bring your idea to life.
Two such investors, Brinc and Artesian, recently launched an Australian Clean Energy Accelerator Program, uniquely designed to support Australian startups that have fully developed solutions, have established product market fit, and are ready for commercialisation.
The program is supported by Artesian’s Clean Energy Seed Fund to invest in scalable, high-growth startups, encouraging innovation and creating opportunities in the development of clean technology.
Brinc and Artesian are looking for the next generation of clean energy startups in three main areas: energy efficiency technologies, electrical grid innovations, and renewable energy solutions specifically designed for the Australian Market.
Applications will be accepted throughout the course of 2020, and startups will be admitted to the program on a rolling basis. This format allows for a more tailored curriculum and hands-on support, designed around the unique needs of each startup.
Energy is going to be a huge focus for Brinc in 2020. Together with Schneider Electric, Brinc has already co-invested in two energy startups through their program in Hong Kong. The partnership allowed Schneider Electric executives to have meaningful interactions with the selected startups through the program and the program was designed to create a facilitated path towards either a partnership, pilot or commercial opportunity.
That’s the model Brinc is looking to replicate her in Australia. Right now, Brinc is in active conversations with a number of major Australian energy companies to try and work together, and ultimately give startups access to industry partners and potential customers from an early stage.
Through the Clean Energy Accelerator Program, Brinc and Artesian will offer $260,000 in seed funding, in exchange for equity in the startups they choose to work with. 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 larger-scale Australian energy companies, in order to help scope and secure pilots and proof of concepts, 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, the provision of capital raising guidance, and by ensuring 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.
This is a key benefit of working with Brinc – the close relationship the firm already has with international manufacturers, a particular benefit for startups looking to manufacture a physical product.
“We specialise in working with companies that are looking to develop a product,” said Brinc Associate Kimberley Lam. “We have connections to manufacturing facilities in China, and can help our startups develop a supply chain in China.”
About the investors
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 and 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 and IoT. It has global experience working with startups in Hong Kong, China, Spain, Bahrain, Poland and India.”
Brinc Founder and CEO, Manav Gupta, said, “If our forefathers had looked up, instead of down, our energy landscape would be very different than what 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 $US250 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.
Applications are now open for the Australia Clean Energy Accelerator Program. View more information here.