Launched just before the Easter break by ATP Innovations – new clean technology startup accelerator Ignition Labs, aims to help early stage businesses within that space secure initial customers and capital investment. It will join 50 technology businesses and their 300 staff inside the ATP incubator in the inner suburbs of Sydney.
Founders include the likes of Startmate Mentors, Sydney Angels and US Investment Advisors. Andrew Stead, Director of Business Development at ATP says “The Clean technology sector is an exciting space with huge interest from entrepreneurs, investors and government. I was surprised at the response from such high quality mentors”.
The mentor group includes successful entrepreneurs Peter Le Lievre and Andrew Tanner who sold their thermal solar company Ausra to Areva for a nice and tidy $275 million back in 2010, others include early investor in Seek, Neill Miller and founder of Carsharing company GoGet Nic Lowe. Ben Peacock who founded awesome PR firm Republic of everyone will also be on hand to give advice!
Using the model developed by US accelerator Y Combinator, Ignition Labs will select 5 high potential clean energy, IT and low infrastructure businesses with highly coachable teams. Validation of your concept is also a MUST. Businesses that reduce the use of finite resources and encourage renewable energy a encouraged to apply.
It will definitely be a very competitive process and applications will be closing in May. The 3 month program will then start in June, with businesses gaining access to $25,000 in seed capital, intensive mentoring and participating in an investment roadshow across Australia and the US.
Last year business that were part of the ATP innovations incubator made over $44 million dollars in revenue and launched 70 new products between them.