Early-stage Sydney-based venture capital firm Investible has been named the lead partner in the Trailblazer for Recycling and Clean Energy (TRaCE) Technology Commercialisation Venture Scheme — a co-investment scheme aimed at accelerating climate-tech innovations from research labs to market-ready solutions.
The A$280 million TRaCE program is a collaboration involving the Commonwealth Government, industry partners, the University of New South Wales, and the University of Newcastle. It spans the innovation lifecycle, addressing phases from research and development to manufacturing and global deployment of technologies.
The first-of-its-kind in Australia, TRaCE, is inspired by successful frameworks from Israel and Singapore. It combines UNSW’s research and development expertise with Investible’s A$32.7 million Climate Tech Fund and startup-scaling know-how, tackling funding challenges that often hinder climate-tech ventures.
TRaCE Research & Commercialisation Director Gabriella Nunes said, “TRaCE’s research and R&D capabilities, combined with Investible’s expertise and ASEAN market connections, create a unique pathway for our startups.
“Through this co-investment scheme, our goal is to provide more funding to high-potential technologies, attract VCs in earlier, and build a sustainable cycle of capital for the university to reinvest into a greater number of startups.”
Investible Investment Principal Ben Lindsay said, “This partnership is a testament to Investible’s ability to catalyse groundbreaking ideas into scalable businesses.
“The Investible Climate Tech Fund has already supported 29 startups to date, and TRaCE’s innovative approach enables us to deepen our impact by de-risking and accelerating high-potential technologies.”
Addressing barriers to commercialisation
Investible CEO Charlie Ill has played a role in bringing similar partnerships to reality in overseas technology ecosystems such as Singapore, and is optimistic about their potential in Australia.
“TRaCE has shown tremendous foresight in adopting this model. By co-creating this solution with Investible, they’ve set a new benchmark for how Australian universities can transform research into commercial outcomes,” he said.
The scheme addresses the high costs of early-stage development and market entry, and the multiple “Valleys of Death” faced by climate-tech startups, by leveraging a co-investment structure that is designed to de-risk early-stage ventures.
Notably, its buy-back mechanism allows TRaCE to recycle funds, creating a sustainable pipeline of funding.
Real-world impact with DeCarice
The partnership’s impact is already evident in its first co-investment with DeCarice, a hydrogen-diesel hybrid startup.
Supported by TRaCE’s R&D Project Fund and Climate 10x Accelerator, alongside pre-seed investment from Investible, DeCarice has also benefited from an Industry PhD program and strategic business guidance.
DeCarice CEO Goran Bozic, credits the ecosystem for their success, saying “This partnership provided not just capital, but the strategic support we needed to attract VC funding and scale effectively.”
By combining capital, expertise, and world-class research, TRaCE and Investible are setting a new standard for how climate-tech ventures can bridge the gap between innovation and impact.
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