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Australia’s new breed of entrepreneurs win backing to make ideas a reality

The CEFC is pleased to share this exciting news from EnergyLab, which has received the first investment made by the Clean Energy Seed Fund.  The Seed Fund received a $10 million cornerstone commitment from the CEFC, through the Clean Energy Innovation Fund.  

 3 April 2017

EnergyLab media release 

Energy efficient homes that can be built by just two people, electric vehicles for drivers with all budgets and schemes to slash up to 80 per cent of your power bill are no longer the stuff of dreams.

Four clean energy startups have received an equity investment of $50,000 thanks to EnergyLab's 12-month Early Stage Clean Energy Acceleration Program. The businesses will also receive dedicated mentors, office space at EnergyLab's hub at the University of Technology Sydney and industry coaching to turn their ideas into a reality and transform the way Australians power their lives.

"Renewable energy and clean-tech startups are a vital element of modernising Australia's energy system. This is an industry Australia should be leading the world in and this program will give its entrepreneurs a leg-up to get us there," EnergyLab co-founder Piers Grove said.

The first cohort of startups to get the boost include:

Eveeh: which is building Australia's first electric vehicle car sharing network.

Iron Matrix: whose energy efficient home replaces bricks and mortar with solar panels, and can be built with just two people.

Blue Volt: which promises to revolutionise the way solar systems are installed.

Energy Assist: which will help households that are struggling to pay their power bills to buy energy efficient appliances to bring down their electricity use.

Every six months four new ideas will be funded thanks to the Early Stage CleanTech Accelerator, which is backed by EnergyLab and Climate-KIC Australia and is the first investment of the Clean Energy Seed Fund managed by Australia's largest seed stage VC firm Artesian Venture Partners with a cornerstone investment from the Clean Energy Finance Corporation.

Mr Grove said, "cleantech startups are still a largely untapped opportunity for Australia. Energy is a massive industry in Australia and new technology is going to disrupt it in a way not seen since libraries came up against the internet. Australia needs home grown companies to make the most of this change and make sure we get our share of new jobs, tap developing exports markets and help stem climate change."

Climate-KIC Australia CEO, Christopher Lee said, "We are very pleased to partner with EnergyLab to bring cleantech ideas to market. The comprehensive acceleration program draws on Climate-KIC's experience in Europe and provides a place for early stage entrepreneurs to get the professional and financial support to make their ideas a success. The Sydney cohort will be joined by other companies around the country as this program rolls-out nationally in 2018."