Greenhouse is one of those exciting location-based gems you get to discover in sustainability from time to time.
In Sydney, it’s a place for about 850 people working across 145 companies in the climate tech startup and established climate business space. Each day they come together over three floors in the huge Salesforce Tower in George Street, near Circular Quay.
They might bump into each other, exchange industry news, or riff off the energy generated in a place where a lot of people are focused on similar outcomes. (Full disclosure – it’s where The Fifth Estate has chosen to hold its series of monthly Leaders Forums.)
Founders of Greenhouse are entrepreneurs Creel Price and Trevor Folsom through early-stage venture capital firm Investible – plus a grant provided by the City of Sydney.
The idea emerged when Creel had a hiking accident and was holed up in a cave for 24 hours, waiting for help. It was one of those opportunities to get in touch with nature that has generated many a “road to Damascus” moment for today’s leaders in sustainability.
Both entrepreneurs brought significant experience in the world of investment and startups to the program. There was Creel’s work with well-known disruptor Richard Branson and his Centre of Entrepreneurship. And there was Trevor’s angel investing in Silicon Valley and a previous business they had been involved in.
Harry Steer, head of marketing and branding for Greenhouse, says the goal of the hub is to support climate tech startups that can benefit from being in prime central location – without having to pay the full price for it.
“We see that there’s a real role to be played by the startup and technology ecosystem in helping bring this new future to life – but a lot of companies holding the cards don’t have access to the technology they need or are under resourced,” Harry says.
“There’s a real need to help them understand how the innovation ecosystem works.”
According to Harry, a research project by Greenhouse, Made for Scale, and the University of Technology Sydney reveals that while lab-to-pilot projects may not need a lot of funding, going from pilot to commercially viable “is a massive funding jump”. Greenhouse is trying to help bridge that gap.
Part of the benefits the hub provides include events and pitch fests to bring together investors and their potential new ventures.
It’s not an easy gig – on either side of the investment/start up ledger.
But Harry says the prospect of the change these startups can bring to our world is exciting and worth the struggle. “We’re not talking about a 1-2 per cent change, we are talking about 50 to 100 per cent change – you effectively get to rebuild the world,” he says.
“I’m passionate about this space because this is the first time we’ve been able to stare at every underlying system in the face and say, ‘how do we flip this in half a generation?’”
According to Harry, just under half of the members are tech companies ranging from solo entrepreneurs to billion-dollar US-based companies who run their Australian arm out of the hub, with climate action organisations representing another significant portion.
The Greenhouse community covers a broad range of climate tech solutions including green finance, renewables, mobility, built environment, food and agriculture, circular economy and more. Their members are companies like Avarni, PlasmaLeap, Loam Bio, Airseed, Investible, Virescent Ventures, National Renewable Network, and Enosi.
Also notable are charities such as the Nature Conservation Council, Climate Action Foundation, Climate Action Network Australia and The Sunrise Project and its subsidiaries.
