Cook Governments first investment from its $7.2million state programme with global tech accelerator
- Cook Government’s Nature Tech Accelerator kicks off
- Six nature tech start-ups chosen after rigorous selection
- Start-ups to gain from expertise of top global accelerator
A project developing “plant factories” to grow food in space and a start-up creating seaweed compounds to cut methane emissions from cattle are among the first participants in the Founders Factory WA Nature Tech Accelerator program.
Launched earlier this year, the Cook Government’s partnership with global start-up accelerator Founders Factory has selected six promising early-stage start-ups to receive seed capital and expert guidance.
Founders Factory, a global tech investor with programs in cities like London, Milan, Berlin, Johannesburg, and New York, has backed over 300 companies worldwide.
Its new Perth-based accelerator, supported by a $7.2 million investment from the Cook Government, marks its latest venture.
Each start-up will receive $50,000 in funding to support their early-stage development, often before generating revenue. Over the next four months, these businesses will participate in an intensive program, receiving tailored support designed to help them scale and succeed.
The accelerator program will run over three years and mitigates the need for ambitious local start-ups to exit the State to pursue their global scaling goals.
The six successful start-ups are:
- SeaStock: Seaweed-based compound production and extraction
- Agra: Sustainable crop systems at traditional agriculture costs
- OceanHex: Scalable kelp reforestation for marine restoration
- Nitronic: Sustainable nitrogen fertiliser via non-thermal plasma
- Call to Country: Embedding cultural competency in organisations
- X-Centric: High-performance soil testing instruments
Innovation and the Digital Economy Minister Stephen Dawson said “supporting unique nature start-ups to expand and thrive on a global scale is key to our Government’s goal of diversifying and decarbonising the State’s economy,”
“WA has a thriving nature-based innovation sector, and I’m pleased that local projects will be able to access a global network of investors and experts, without leaving the State,”
“Supporting unique nature start-ups to expand and thrive on a global scale is key to our Government’s goal of diversifying and decarbonising the State’s economy,” said Dawson
“Founders Factory is renowned worldwide as being one of the best commercialisation accelerators and having the opportunity to nurture local start-ups here is an incredibly valuable opportunity.”
“I am looking forward to the continued innovations to come from not only these selected six but for what the next few years hold for the WA Nature Tech Accelerator program.” Dawson said
With the backing of the Cook Government and the expertise of Founders Factory, these initiatives have the potential to significantly impact Australia’s nature tech landscape and contribute to a greener, more sustainable future.
