HomePress ReleaseEIN Presswire$1.5Bn Needed To Grow Australia’s Critical Climate Tech Trade, Finds New Report

$1.5Bn Needed To Grow Australia’s Critical Climate Tech Trade, Finds New Report

2023 Australian Climate Tech Trade Report Printed

SYDNEY, AUSTRALIA, June 28, 2023/ — Climate Salad, a local weather tech ecosystem supported by Qantas, KPMG, AWS and W23, printed its 2023 Australian Climate Tech Trade Report at this time. The report is the most important survey of Australian tech local weather founders, discovering that the business wants $1.5 billion funding within the subsequent 12 months. This funding will create the excessive worth jobs and globally formidable corporations required to construct Australia’s net-zero financial system.

As a rapidly-growing business presently value over $4bn, Australian local weather tech can play an important function in assembly looming 2030 renewables and CO2 emissions reductions targets and to assist avert local weather disaster. In help of this, local weather tech can also be a precedence space for the brand new $15bn Nationwide Reconstruction Fund. The report says that additional business collaboration and funding is important, particularly contemplating the current market downturn that has made elevating capital tougher.

Key findings from the report embrace:

• Australian local weather tech founders raised $553 million in 2022 (up from $338M in 2021) and founders are searching for to lift greater than $1.5 billion within the subsequent 12 months

• On common, local weather tech corporations grew their revenues by 88% during the last 12 months

• 97% of founders are presently hiring, and there may be projected to be over 5,000 individuals employed by local weather tech corporations by 2024

• The variety of ventures with no less than one feminine founder has grown from 39% in 2022 to 44% in 2023

• 47% of Australian local weather tech corporations have already got abroad clients and 72% intend to develop into a brand new worldwide market this 12 months

• Climate Salad members have ambitions to take away 1,300 gigatons by 2030

• The most important sub-sectors throughout the Australian local weather tech ecosystem are round financial system (21%), information/finance (17%) and agri-food (13%)

“There isn’t any sugar-coating the state of affairs we’re in. Our planet is heading in the direction of an epic catastrophe,” mentioned Mick Liubinskas, Climate Salad co-founder and CEO. “Nevertheless, we don’t have to get caught in anxiousness and apathy. There may be hope, and extra importantly, motion. Australian local weather tech founders are sturdy, sensible, collaborative and impressive. I’m extremely optimistic about the way forward for the Australian local weather tech sector and our potential to impression significant change. Nevertheless, we want extra business collaboration, extra authorities help, and extra funding {dollars}. $1.5bn appears like plenty of capital for one sector, however critical points require critical funding, and that is the principal subject of our time.

“Climate tech founders aren’t any strangers to pondering large,” mentioned Amanda Worth, Accomplice KPMG Enterprise, Co-lead Transactions and Ventures. “In spite of everything, the entrepreneurs on this ecosystem are brave sufficient to tackle the most important problem in human historical past. Nevertheless, with this large-scale pondering comes large-scale challenges – confirmed by the truth that almost half of all local weather techs are creating a brand new know-how from scratch. There isn’t any playbook, which is why having help round you is crucial as you develop.”

Headshots, staff pictures and inventory pictures may be downloaded right here

About Climate Salad

Climate Salad is a number one community of Australian local weather know-how, with over 300 corporations, 100 mentors, 50 inventors and 500 supporters. Their 2030 Mission is to construct the business to 1,000 corporations with no less than 10 being worldwide successes. Climate Salad helps Australian local weather tech corporations discover expertise, safe world clients and meet buyers via neighborhood collaboration, occasions, mentoring, and worldwide commerce missions.

Mike Marquiss
Decoded Comms
+61 476 267 683


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