The Tasmanian Government is funding the creation of a business accelerator in Launceston for Internet of Things (IoT) and energy start-ups.

The state government will provide $150,000 to enegy start-up accelerator EnergyLab, which will lead the project. EnergyLab competed to win the right to lead the new accelerator.

EnergyLab‘s goal is to “support new business and technological initiatives that move Australia and the world toward 100% clean energy solutions”.

Its principal sponsor is Origin Energy and its headquarters are hosted by University of Technology Sydney. The organisation is also supported by UTS Sydney, KPMG, Freshwater Group, Yurika Pty Ltd and Climate KIC Australia.

The Tasmanian Government aims to leverage EnergyLab’s international business networks to attract skilled participants and partners, and mentor new Tasmanian businesses.

The announcement follows the New South Wales Goverment's announcement early this year of a $20 million Regional Community Energy Fund. That money will fund projects that create "innovative and/or dispatchable renewable energy".