Internationally recognised venture studio and start-up accelerator Founders Factory has chosen Perth as the location of its first Australian operation. Supported by $7.2 million in funding from the WA State Government, Founders Factory’s Perth hub will help drive diversification and decarbonisation, with a focus on nature and biodiversity start-ups.
Premier Roger Cook told Startup News, “Securing the internationally renowned Founders Factory for Perth is a major coup for our State. This is the first time the tech accelerator has operated in Australia, providing a springboard for innovative local businesses to reach an international audience and maximise their chances of success.”
Founded in 2015, Founders Factory seeks to build and fund start-ups in partnership with visionary entrepreneurs and the world’s biggest companies. The global tech investor already runs programs in cities including London, Milan, Berlin, Johannesburg, and New York, and has backed more than 300 startups around the world.
Founders Factory President George Northcott commented, “We believe that entrepreneurs and technology can solve the world’s hardest problems. Preserving nature and the decarbonisation of industry are key challenges in the world today and we are thrilled to be extending our operations to Perth to support more founders in these domains.”
Founders Factory will build a local team in Perth who will provide a four-month program supporting start-ups with product development, operations, commercialisation, data science, partnerships, and fundraising. The firm will also draw on its global influence to attract international founders to the State for investment, testing and scaling of locally produced technology.
The State Government’s investment of $2.4 million a year over three years will establish Founders Factory’s Nature and Biodiversity Tech Accelerator program in WA. Key areas of focus will include reforestation and protection, land management, regenerative agriculture, water and coastal regions, sustainable infrastructure, and the circular economy.
While the State Government’s partnership with Founders Factory will centre on nature and biodiversity, Rio Tinto is also investing in a separate accelerator program to back the development of breakthrough technologies in decarbonisation, exploration processing, and remediation.
“It’s fantastic that Rio Tinto is also investing in supporting local start-ups. This is another significant and strategic stepping stone in building our innovation infrastructure and ecosystem and setting up Western Australia as a place of choice for world-leading researchers and innovators,” said Innovation and the Digital Economy Minister Stephen Dawson.
Rio Tinto Iron Ore Chief Executive Simon Trott added, “Technology has always been at the forefront of our industry and Western Australia can be the Silicon Valley of the global mining industry.”
“Our iron ore operations in the Pilbara are among the most technologically advanced in the world. This exciting new partnership gives us the opportunity to build on our innovative legacy to unlock new technologies and help our business find better ways to provide the materials the world needs.”
Find out more about Founders Factory and how to apply by visiting https://foundersfactory.com/
