Five startups join clean energy accelerator
Fri 29 September 2017 - 8:33 amStartup
Five startups have been selected to participate in Australia’s first clean energy accelerator, EnergyLab, joining the initial cohort of four startups.
Founded by Piers Grove and Nick Lake, EnergyLab is a not-for-profit business incubator operating out of the Blackfriars School House, UTS in Chippendale. It launched, earlier this year, with support from principal sponsor Origin Energy along with UTS, Jobs for NSW and Climate-KIC.
“Many of the technologies that will shape the future of the Australian energy industry will come from local start-ups, and we are excited to welcome this latest cohort to EnergyLab,” said Origin’s Tony Lucas, Executive General Manger, Future Energy and Business Development.
“As Australia is moving towards a cleaner and smarter energy future where customers have greater control and transparency over their energy use, we need to be investing in the brightest and best ideas. Origin is committed to supporting local start-ups as they develop their ideas and aim to enter the Australian market.”
In addition to its investment in EnergyLab, Origin is a founding partner in the global energy accelerator Free Electrons, has a presence in Silicon Valley, and established the O hub in Melbourne dedicated to rapidly prototyping, developing and trialling new customer solutions.
EnergyLab Executive Director, Piers Grove added: “Origin brings valuable expertise through experienced mentors to our program which will help scale up the speed and reach of the participating energy start-up companies. We are delighted to have their support and look forward to working closely with them.
“Origin joins UTS, Jobs for NSW, Climate-KIC and others in our strong group of partners which allows EnergyLab to grow its reach. The future looks bright.”
The five businesses joining the program are:
- Ecologic Apps – a cloud-based platform to assess and install energy efficiency, solar and batteries at scale
- Everty – a new peer-to-peer electric vehicle charging network
- OPTIM Controls – an online technical support platform for industrial equipment
- PV Mate – B2B Bidding & Job Management platform for Solar PV Installations
An Origin spokesperson told Dynamic Business that applicants were assessed against five criteria:
- Product/Service – “innovativeness” of the offering and how they are differentiable to what is available in the market today
- Customer & market – clear understanding of target customer & problem being solved for
- Competitive advantage – is there protectable IP or potential to secure exclusive partnerships
- Team – cohesive team who are willing to learn with the right balance of skills & experience
- Business plan – can articulate how they will make money and remain financially sustainable
“Providing customers with smarter and cleaner energy solutions is a key priority for Origin and that is why we are committed to working closely with Australia’s clean energy start-up community,” the spokesperson said.
“As a principal sponsor of EnergyLab, we benefit with exposure to new ideas and solutions, plus we will get the opportunity to invest and rapidly prototype and test concepts with our customers.”