What will it take to establish Geelong as a cleantech and circular economy Centre of Excellence, and why should we pursue a cleantech strategy?
Cleantech and the circular economy address the challenges of climate change and sustainability, while taking advantage of technological and market opportunities.
Through the scale and place based expertise of a Centre of Excellence the economic benefits become evident.
Geelong Manufacturing Council supports the City of Greater Geelong’s vision is to establish Geelong as a Centre of Excellence for Cleantech and Circular Economy in Australia, by attracting investment, supporting innovation, creating jobs, and building skills. To do this requires fast tracking the growth of cleantech businesses in, or moving to, Geelong through a place-based approach that seeks to support sustainable business and the local lifestyle.
In 2020, City of Greater Geelong road tested this vision with business leaders, and they all agreed it’s a good idea to pursue this vision.
Enter Cleantech Innovations Geelong. Building on the outcomes and learnings from projects delivered over the program Cleantech Innovations Geelong will release a report at the end of 2021 with a Roadmap for how Geelong can establish itself as a Centre of Excellence for cleantech and circular economy solutions.
The transition to a cleantech economy requires a strong pipeline of projects to attract ongoing investment. Geelong has a successful track record for nurturing cleantech start-ups and has several larger players with mature projects. But, Geelong faces the common challenge of attracting funding to quickly scale up the start-ups to more mature, low risk companies commonly sort after by traditional investors.
The success of Geelong’s Centre of Excellence for Cleantech will be measured by its ability to attract investment to accelerate the emergence of new industries. Globally, the need to quickly transition into a more sustainable economy is challenging traditional approaches to business investment. A key enabler of achieving an economic transition is to mobilise finance – both public and private.
Cleantech Innovations Geelong is delivered by Geelong Manufacturing Council and City of Greater Geelong, with the support of the Victorian Government.