Support for innovative clean-tech companies

Tuesday, 25 January, 2011

NSW companies will receive support from Industry & Investment NSW to break into the lucrative US market after their top performances in the highly competitive NSW Innovation Shootout, part of the 2011 G'Day USA event series, held at the Business Technology Centre in Los Angeles, California.

The developer of a water-treatment technology that reduces energy costs by using a nanoparticulate membrane, Bio-Gill will receive a $10,000 Global Growth market development package, rent-free office space in the Business Technology Centre for six months and 10 hours of free business coaching.

Runner-up company BuildingIQ will receive three months of rent-free office space in the Business Technology Centre and six hours of business coaching. The company developed software that slashes the cost of heating, ventilation and air conditioning by learning a building’s thermal characteristics.

The NSW Innovation Shootout: Fastpitch gave seven companies from NSW just 10 minutes to convince a panel of US experts that their innovation has what it takes to deliver commercial and environmental returns in the burgeoning clean-tech market in the US. The judging panel included Keith Moo-Young, the Dean of Engineering at Cal State Los Angeles, and Robin Zander, Energy Efficiency Director of one of the largest utility companies in the US, Southern California Edison.

All seven NSW companies have invented new devices or software to improve energy efficiency, water management, sustainability education or environmental impact analysis.

Kylie Hargreaves, Executive Director of International Markets and Trade at Industry & Investment NSW, said the participating companies were all market ready with great commercial potential.

Hargreaves said, “The US is a priority market for NSW - it is the leading source of foreign direct investment in Australia and our third-largest trading partner. The NSW Innovation Shootout is our key event to promote Aussie know-how from NSW to the world’s largest market.”

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