Nine Queensland climate tech startups have been selected for cohort 1 of EnergyLab’s new Investment Ready Program, 12 weeks dedicated to mastering the many challenges of raising capital.
Raising funds is an ever-present and challenging part of a founder’s startup journey. Understanding the big picture of the overall startup funding landscape and the tactical steps required to streamline the process are vital to secure funding.
Cut Through Venture reports that Q2 2024 delivered the strongest funding quarter in Australia since Q4 2022. The report warns against calling it a trend, but the signals are promising with 46% of investors describing the funding market as more favourable than the previous quarter. A more active funding landscape means more startups will be gearing up their fundraising efforts. The report further states that in Q2 2024, climate tech was the second most popular investment sector, with green energy company Hyasta’s $172 million round being the largest climate tech deal on record.
The new program is backed by the QIC-managed Venture Capital Development Fund (VCDF) and will equip founders with the right tools and know-how to navigate the entire fundraising process, with a range of climate tech investors and other experts guiding the cohort towards choosing the right funding pathway, articulating the opportunity to resonate with investors, developing a clear path to growth and impact, understanding term sheet red flags, nailing the pitch, and ultimately closing the deal! After 10 weeks of workshops the startups are set up with a range of 1:1 meetings with investors to build relationships and get personalised feedback. The program culminates on October 17 with the startups pitching to investors and the wider Queensland ecosystem at The Precinct in Brisbane.
"The Queensland climate tech startup ecosystem is rapidly evolving, and EnergyLab is proud to play a pivotal role as the Sunshine State continues its transformation into a hub for startups. At EnergyLab, we are committed to empowering climate tech founders by enhancing their fundraising capabilities. This allows them to secure investments efficiently and return their focus to what truly matters: tackling the challenges that bring us closer to achieving net-zero emissions." - Megan Fisher, CEO, EnergyLab
The Inaugural Cohort of the Investment Ready Program
The cohort companies operate in a variety of sectors and are all solving important problems contributing to decarbonisation. The majority of the companies are in market with paying customers, and are currently getting ready for their next round of funding.
Blue Carbon (Eva Chiu & Ana Novak) integrates ocean wave-powered technology and sustainable aquaculture practices for carbon sequestration and marine ecosystem restoration.
Carbon Compass (Matt Lambert & Mark Shaw) provides advanced energy and GHG analysis and optimisation for the resources industry, driving emission reductions and improved energy efficiency.
GreenKPI (Johanna Kloot) helps organisations improve sustainability by empowering employees with actions that drive measurable and reportable change.
OmniNav (Dave West) helps energy transition projects by finding and evaluating regulatory and technological information and drafting project deliverables.
Powston (Brendan Homann & Ian Connor) uses a combination of hardware devices in your home and a cloud-based platform to provide optimised power management solutions.
Sendala (Danielle Shannon) is a reusable packaging as a service platform for ecommerce brands. Pack. Send. Return. Repeat.
thebreak.energy (James Newbury) has developed a patented “Hydro Helix Turbine” that generates large scale renewable base load power from waves, tides, rivers, and pipes.
Vaulta (Dominic Spooner) is an energy storage manufacturer and developer. Using patented technology, batteries can be repaired, re-furnished, and recycled down to the single cell level.
XESS Energy (Peter Watkinson) designs and manufactures integrated modular standalone power systems, combining renewable energy technologies and smart grid capabilities.
The next cohort of the Investment Ready Program kicks off in February 2025, with recruitment starting in November 2024. Register your expression of interest here.
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