Clean energy business accelerator EnergyLab has expanded to Brisbane. For its new Brisbane base, EnergyLab selected four start-ups after a rigorous assessment process. Each start-up will receive 6-24 months support, including rent-free office space, AU$50,000 in seed capital, and mentoring and networking opportunities to help them build a business platform for their ongoing development.
The new EnergyLab base is co-located with the CEFC. The Queensland government is providing an additional AU$400,000 in operational funding, as part of its Advance Queensland Biofutures 10-Year Roadmap and Action Plan.
The seed capital that EnergyLab provides to start-ups is financed through the Clean Energy Seed Fund, which was established in 2017 by specialist fund manager Artesian. The CEFC, through the Clean Energy Innovation Fund, is a AU$10 million cornerstone investor in the AU$26 million Clean Energy Seed Fund.