Ignition Labs 2012 Class Innovating for the Greater Good!
The Ignition Labs Clean Tech Seed Accelerator operates within ATP Innovations and has just recently announced their new [and first] class for their Clean Tech Incubator. Much like various other incubator programs such as Pushstart and Startmate, the Ignition Labs program will be an intensive 3 month program in which the successful applicants will be developed as business people, validate and refine their technology and business model – and then finish things off with a roadshow pitching to investors across Australia and the United States.
The five Startups that will be taking place in the first class were announced last week and are:
A very awesome startup that turns the “postie bike” into an electric off road sports performance bike for recreational riders. Growing up in the country around farms, believe me when I say this has a HUGE market and if you really sit back and think about it, a days worth of rec riding can use up a tank of fuel and then some.
An online market place that auctions off unused freight capacity. These guys have featured on the Anthill Smart 100 List and were the leaders in an industry [being collaborative freighting] in 2011 when they first launched.
Helping customers reduce their energy costs through their technologies that allow you to see your energy usage in real time. With this being a hot topic for Australians everywhere at the moment, I see them gaining traction extremely fast.
These guys are a peer to peer rental service, that encourages collaborative consumption. You can rent anything from a power drill for the weekend, a car seat for that interstate trip with the little one, and it is all safe and secure with their secure rental platform. These guys are growing fast, and as Australians begin to understand the concept of collaborative consumption more and it becomes a mainstream term, they will be unstoppable.
No Diablo freaks, it’s not a video game, it is a company that develops electrodes for hydrogen production. These guys are a bit more niche and targeted towards a particular industry but hope to provide customers with an alternative to using such metals as Platinum and Nikel which are more expensive and less efficient.
Lisa Fox, founder of Open Shed has said that she is extremely excited to have been picked as part of the first intake. “We’re honoured to have been chosen for the programme. We truly believe in the value of Open Shed and the positive impact of collaborative consumption for the environment, the hip pocket and in helping the Australian community connect.”
Fox along with the other successful applicants will receive $25,000 in funding in return for a 7.5% stake in their business, this will give each company a value of $308,000 entering in to the program. Ignition Labs cheekily label this “noodle money” saying they don’t want their entrepreneurs to go hungry throughout the course of the program.
One thing is for sure, if other incubator programs are anything to go by, these guys are in for an epic 3 months, but on the flip side if recent funding rounds from Aussie incubator graduates such as Ninja Blocks, Script Rock and Flight Fox are anything to go by the pay off will be worth every blood, sweat and tear drop shed.