Ignition Labs, an ATP Innovations-backed clean technology accelerator, is giving a much-needed (and I suspect CFC-free) jumpstart to some of Australia’s newest, cleanest startups. The five teams chosen will join the 50 companies and over 300 staffers already in the ATP Innovations incubator.
Each team accepted to the accelerator will be given three months to build a business plan, validate technology, and produce a working prototype. Mentoring from respected consultants and a road show presented before Australian and U.S. investors are also part of the deal. Oh, and did I mention that each startup accepted into the program is given $25,000 in seed capital? As a result the lucky startups will benefit from both the intense accelerator experience and the golden networking opportunity presented by the incubator.
Ignition Labs’ Chosen Few
The launch of Ignition Labs has (surprise, surprise) attracted intense interest from the local startup community. Among the very fortunate winners are:
Chunk Moto’s mission is to provide affordable, sustainable urban transportation and engaging electrically-driven sporting products for off-road recreational riders. Chunk Moto’s core product converts the world’s most sold motorcycle, the Honda Cub into a high-performance electric vehicle.
LoadMax offers to load and maximise empty space to transport goods and save money. The service provides lower delivery costs for both buyers and sellers of items such as cars, boats and furniture. Loadmax also offers transport providers the opportunity to maximize the use of available truck-capacity.
MicroEnergyLabs makes dumb electricity meters smart. The company provides consumers with real-time energy consumption data in order to help reduce costs and uncertainty. The product offers the bill-payers insight into their usage patterns, cost control and the opportunity to directly measure the outcomes of their energy reduction programs.
Open Shed is an online peer-to-peer rental platform aiming to encourage collaborative consumption. Whether you want to borrow a power drill for your home renovation, a bike for the weekend, or a travel cot for the holidays, Open Shed provides individuals, groups and communities with a safe and secure means to rent from people in their own geographic area.
Zenogen develops highly-efficient carbon electrodes for hydrogen production. Hydrogen is the fastest growing specialty gas market around the globe. The novel technology provides hydrogen users with lower on-site productions costs. The technology offer electrolyzer manufacturers with an alternative to higher-cost or lower-efficiency metals such as platinum and nickel.
The winning startups were selected from teams in the fields of renewable energy, green building, resource efficiency and transport sectors. Each project chosen stood out to judges based on conformity to “clean tech” standards, such as market viability, use of renewable resources, and demonstrative efforts to reduce waste.
“The quality of the applications amazed the mentors and made for a highly competitive selection process” said Andrew Stead, Director Business Development for ATP Innovations.
Applications are closed for 2012, but will re-open next year when another round of startups will be given the chance to apply for inclusion in the Ignition Labs program.
3, 2, 1 Ignition!
As Australia’s first startup accelerator, Ignition Labs brings together a collection of entrepreneurially-savvy mentors pooled from the clean tech industry. Along with ATP Innovations – Australia’s largest incubator- Ignition Labs incorporates the resources of international law firm, DLA Piper, and venture capital management firm, Starfish Ventures. These forces combine to put green-friendly start-ups on the fast track to success.
So Anthillians, it would seem that the seed accelerator has found a home here in Australia, as the novel incubator style has in the U.S. and elsewhere. If you’ve got a new clean tech idea in mind, now would be the time to start polishing up the proposals – next year Ignition Labs might just give your brave new business the green light.