EnergyLab, a nonprofit in Australia is granted US$1.64 million by the Australian government to support clean energy startups. This funding aims to help local early-stage clean energy startups, enabling them to develop and scale their technologies.
In a significant move to bolster the growth of clean energy startups in Australia, the Australian Renewable Energy Agency (ARENA) has announced a US$1.64 million grant to support EnergyLab, a Sydney-based not-for-profit organisation. This initiative, known as the “Entrepreneurial Support for the CleanTech Startup Ecosystem” project, aims to foster the development of the country’s renewable energy startup sector.
Australia has identified a critical gap in support for early-stage clean energy startups, and this funding is designed to bridge that divide. EnergyLab, founded in 2017, has a core mission to assist emerging CleanTech startups in overcoming obstacles when scaling their innovative technologies and solutions.
EnergyLab offers a range of flagship programmes, including the Climate Solutions Accelerator, Women in Climate & Energy Fellowship, Scaleup Program, a Mentor Network, and EnergyLab Angels. Beyond these, EnergyLab provides hosts information-sharing and networking events to facilitate collaboration among entrepreneurs, enabling them to stay informed about developments in renewable energy technology.
Thanks to ARENA’s financial backing, EnergyLab will continue to offer these essential services for another four years during the project’s duration.
ARENA CEO Darren Miller emphasised the importance of supporting startups in the renewable energy sector, saying, “Startups represent the future of renewable energy, taking the ideas and technologies that will get us to net zero, harnessing entrepreneurial spirit and bringing them to market.”
Megan Fisher, the CEO of EnergyLab, expressed gratitude for ARENA’s support, stating, “The funding support being provided by ARENA means that EnergyLab can continue to offer and develop leading support programs to grow the clean energy and climate tech startup community in Australia.”
Over the past seven years, EnergyLab has aided over 170 startups, nurtured 130 aspiring founders, and established a network of over 370 mentors and 180 angel investors. Fisher also highlighted the organisation’s focus on assisting founders from startup launch to global scaling.
Australia’s innovation ecosystem is poised for an exciting period of growth in the renewable energy sector, and providing the right support for founders is considered a pivotal step towards Australia becoming a renewable energy superpower.
This funding injection by ARENA underscores the government’s commitment to fostering clean energy entrepreneurship, positioning Australia at the forefront of renewable technology development. As the next generation of EnergyLab alumni continues to innovate, the nation anticipates remarkable achievements in the clean energy sector.
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