A new initiative launched in Australia yesterday with the support of several state governments and universities will see entrepreneurs, researchers, developers and startups work together to explore renewable and low carbon energy pathways.
Climate-KIC Australia is a Knowledge Innovation Community (KIC), based on the European KIC model. That community, which has a presence in 23 European countries, raised €189m in external funding for 170 startups and generated approximately 3,000 jobs between 2012 and 2015.
A focus activity of the Australian non-profit organisation relates to transformation of the electricity sector. This will be achieved through building on the Australian renewable energy industry’s efforts to date and current regulatory and policy frameworks, including those related to solar PV and battery storage.
Other net-zero carbon energy focus areas include biofuels and assisting Australian governments and businesses prepare for the rapid rise of electric vehicles; expected to occur by 2030.
Participating startups will benefit from Climate-KIC Australia’s 12-18 month accelerator program. Through the community, investors will then have access to a stream of these new, capital-ready businesses offering attractive returns.
Climate-KIC Australia Chief Executive Officer Christopher Lee says the initiative will bring together the best in order to enable climate innovation to form the foundation of the future Australian economy.
The Government of South Australia has committed to the initiative as a founding partner.
“Climate change is the biggest challenge and the biggest opportunity of our time, and being part of this innovative community will help further position South Australia to harness opportunities to attract investment, innovation and jobs,” said South Australian Climate Change Minister Ian Hunter.
Another founding partner is the University of Adelaide.
“The University of Adelaide is pleased to play its part in supporting the State’s sustainability agenda, and we look forward to working with state governments, other universities and the private sector to find solutions that meet sustainability goals and promote jobs, and diversify the economy,” said University of Adelaide Pro Vice-Chancellor (Entrepreneurship) Professor Noel Lindsay.
Also on board are the NSW Government, Victoria’s State Government, Curtin University, University of Technology Sydney, WWF and others.
More information on Climate-KIC Australia can be found here.
