Startupbootcamp launches Australia accelerator

Over three years, Startupbootcamp Energy Australia plans to support 30 companies. They must specialize in one of three areas: energy efficiency solutions like energy monitoring and smart buildings; energy independence, which covers storage and smart grid technologies; and digitization and analytics solutions such as big data, blockchain and artificial intelligence.

Successful applicants will participate in a three-month accelerator program, receiving mentorship from more than 100 industry experts, free office space, seed funding, and access to investors. The program will be led by Trevor Townsend, who previously designed Australia’s first wholesale energy software trading system while working for US-based Tibco Software, which listed in 2004.

“Smart energy is about product, process and business model innovation in a rapidly changing marketplace. The energy industry, which hasn’t drastically innovated in the last two decades, is suddenly seeing 360-degree disruption that is going to change everything in the next 10 years. It’s one thing to know that change is coming and it’s another to know what to do and how to act to stay relevant,” Townsend said in a statement.

Andy Shannon, head of Startupbootcamp Global, added that the global smart energy market is projected to grow by nearly 15% through 2020, with revenue estimated to surpass $136 billion by 2024 as new ways to source, produce, consume and monitor energy are introduced.

Startupbootcamp sees Australia as a suitable location by virtue of its rapidly evolving start-up ecosystem and the presence of leading universities and research laboratories. It noted that US start-ups such as Zendesk, Slack, Square, Hired, Stripe, and GoPro chose Melbourne to establish their Asia Pacific headquarters.

Founded in Denmark in 2010, Startupbootcamp runs accelerators that target financial technology, healthcare, the internet of things, smart cities, and food technology. The first Asian program launched in Singapore in 2014, focusing on fintech. There is now also a fintech program in Mumbai and a digital health program in Chengdu.

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• Topics
• Australasia
• Industrials
• Technology
• Early-stage
• Australia
• energy
• seed