Clean technology accelerator Ignition Labs has selected five teams for its inaugural program, including an online peer-to-peer rental platform to encourage collaborative consumption.
Ignition Labs is the brainchild of Sydney-based business incubator ATP Innovations. The three-month program is inspired by Startmate but is aimed solely at clean technology companies.
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It was launched by a group of start-up founders and clean technology experts, alongside the support of venture capital firm Starfish Ventures and international law firm DLA Piper.
The aim of the accelerator is to help teams secure initial customers and capital investment.
In addition to intensive mentoring and $25,000 in seed capital, teams have the opportunity to participate in a road show in Australia and the United States, including at SXSW Eco in Texas.
Andrew Stead, director of business development at ATP Innovations, says the quality of the applications “amazed” the mentors and made for a highly competitive selection process.
“We validated the demand as much as possible beforehand, but the response has proven there is a place for niche accelerator programs in Australia,” Stead says.
The successful teams will work with 50 companies and their 300 staff within the ATP Innovations technology incubator. They are as follows:
1. Chunk Moto
The mission of Chunk Moto is to provide affordable, sustainable urban transportation by way of electrically-driven sporting products for off-road recreational riders.
Chunk Moto’s core product converts the world’s most frequently sold motorcycle, the Honda Cub, into a high-performance electric vehicle.
LoadMax offers to load and maximise empty space to transport goods and save money.
It provides lower delivery costs for the buyers and sellers of items such as cars, boats and furniture, and offers transport providers the opportunity to maximise the use of available capacity in their trucks.
MicroEnergyLabs says it can make “dumb electricity meters smart”. It provides consumers with real-time consumption data to help them reduce costs and uncertainty.
The product offers bill payers insight into their usage patterns, cost control and the opportunity to directly measure the outcomes of their energy reduction programs.
4. Open Shed
Open Shed is an online peer-to-peer rental platform to encourage collaborative consumption.
Whether you want to borrow a power drill for your home renovation or a bike for the weekend, Open Shed provides individuals, groups and communities with a safe and secure rental platform.
The benefits include hiring items at a fraction of the cost of buying new ones, making a few extra dollars and reducing the hyper-consumption of goods.
Zenogen develops highly efficient carbon electrodes for hydrogen production.
Hydrogen is the world’s fastest-growing specialty gas market, and has application in a diverse range of industries including fertiliser production and renewable energy fuel cells.
This technology provides hydrogen users with a lower cost of onsite production, and electrolyser manufacturers with an alternative to higher cost or lower efficiency metals.