Why Singapore is Australia’s Silicon Valley for climate tech founders

The allure of San Francisco as startup mecca is a long-held dream for entrepreneurs with global ambitions, but increasingly Singapore is where Australian founders are heading to find their stride and make it all come true.

Xylo Systems CEO and cofounder Camille Goldstone-Henry certainly found that to be the case.

Goldstone-Henry, a Australian Women’s Weekly Women of the Future winner, emerged from Startmate‘s 2021 cohort and went on to raise $200,000 in pre-Seed funding the following year led by Investible’s Climate Tech Fund. Xylo Systems allows companies that have an impact on wildlife, such as mining and development, to measure and manage biodiversity impact.

Last year, she decided at the last minute to join the Investment NSW Going Global Program to Singapore for a Green Building Conference and it’s been a fruitful market for her global expansion plans. 

 “We’ve secured customers and made invaluable connections with potential investors,” she said.

“We had explored expanding in the USA but the market was too dispersed geographically.”

If you think Australia can be a challenge with six states and two territories, the USA is often described as 52 unique countries, with unique tax laws, micro ecosystems, and a highly competitive startup sector. 

Singapore is position itself to become the leading sustainability innovation hub in the ASEAN region. The government there provides incentives and support to enable companies to adopt low-carbon technologies and practices towards a net-zero future.

Australia has a strong economic relationship with the island state via the Singapore-Australia Green Economy Agreement (GEA)

Australian startups can also use Singapore as a springboard for their climate tech and cleantech ventures, accessing a vibrant ecosystem of 7,000 multinational companies, 4,000 startups, 200 venture capital firms, and over 200 accelerators.

Now, Sydney climate tech hub Greenhouse in collaboration with Investment NSW is launching a Climate tech scale up program to Singapore.

Greenhouse climate tech ambassador Charlotte Connell said NSW-based cleantech and climate tech startups seeking connections to potential partners, customers, and investors should apply to be part of the program.

Applications close March 24 and the program will run April to June at Greenhouse, ahead of everyone heading to the CleanEnviro Summit Singapore June 19-21.

More here.