Each startup will receive a cash investment and participate in a four-month accelerator program run by Founders Factory to support product development and commercialization.
The Western Australian Government has also partnered with Founders Factory to invest in nature tech start-ups that protect and restore nature and biodiversity.
The partnership with Rio Tinto and the Western Australian Government will support Founders Factory's first Australian location in Perth. The company currently operates in London, Johannesburg, Milan, Berlin, Bratislava, New York and Singapore.
“Technology has always been at the forefront of our industry and Western Australia could become the Silicon Valley of the world's mining industry,” Rio Tinto iron ore chief executive Simon Trott said in a statement.
With support from industry and the State Government, local and international start-ups will gain access to investment opportunities and real-world testing and expansion support to help grow Western Australia's innovation economy. ”
Western Australia Premier Roger Cook said: “Securing the internationally renowned Founders Factory in Perth is a major coup for our country.” “This is the first time the technology accelerator has operated in Australia and will serve as a springboard for innovative local businesses to reach an international audience and maximize their chances of success.”
