Rio Tinto, a prominent mining company, has formed a strategic alliance with a top global venture studio and start-up investor to foster innovation in the mining sector. This collaboration with Founders Factory involves an investment of A$14.4 million in early-stage start-ups worldwide, with a three-year focus on safety in mining operations, decarbonization, exploration processing, and automation.
Each start-up involved will gain from a monetary investment and inclusion in a comprehensive four-month accelerator program, which is set to expedite both their product development and commercialization processes.
Moreover, the Western Australian Government is set to collaborate with Founders Factory and invest in nature-tech start-ups that are instrumental in nature conservation and preserving biodiversity. The collaborations will lead to the establishment of Founders Factory's first Australian hub in Perth, Western Australia, enriching the state's innovative landscape and complementing its already-existing global city hubs.
It's noteworthy that Founders Factory has successful operations in several cities around the globe, including London, Johannesburg, Milan, Berlin, Bratislava, New York, and Singapore.
