The Australian Renewable Energy Agency (ARENA) has announced $480,000 in funding to support the next generation of clean energy entrepreneurs.
The funding will be provided over the next 12 months as part of the start-up acceleration program EnergyLab, to develop new ideas and technology for the clean energy sector’s future.
Minister for Energy and Emissions Reduction, Angus Taylor, said EnergyLab programs help entrepreneurs develop projects, test their commercial viability, and undertake capital raising activities to help launch a product into the market. EnergyLab also provides mentoring, links to energy investors, and specific support for women entrepreneurs.
“The funding for EnergyLab is an investment in Australia’s future energy technology, and a vote of confidence in the next generation of energy entrepreneurs,” Mr Taylor said.
“We are committed to embracing innovation to help secure our energy future and meet the nation’s energy needs through low-emissions technologies.
“The Government’s Technology Investment Roadmap – which will soon be released for public consultation – will outline how technology offers the best prospect of strengthening Australia’s role as an energy export leader while supporting reductions in global emissions.
“It will aim to move priority technologies and projects to commercial status as quickly as possible in order to firm up the path to a sustainable energy future and to strengthen Australia’s economy.”
EnergyLab has supported more than 80 Australian energy start-ups since 2017. Recruitment of entrepreneurs and start-ups for the Scale Up program is currently underway.