Rio Tinto is teaming up with a global venture studio and start-up investor to back the development and commercialization of breakthrough technologies in the mining industry. Rio Tinto will partner with Founders Factory and invest A$14.4M in global pre-seed and seed stage start-ups over the next three years. The focus will be on technologies in the fields of safe mine operations, decarbonization, exploration processing and automation. Each start-up will receive a cash investment and participate in a four-month accelerator program run by Founders Factory to support product development and commercialization. The Western Australian Government has also partnered with Founders Factory to invest in nature-tech start-ups that preserve and restore nature and biodiversity. The partnerships with Rio Tinto and the Western Australian Government will support the first Australian hub of Founders Factory in Perth, Western Australia, boosting the state’s innovation credentials. Founders Factory successfully operates in London, Johannesburg, Milan, Berlin, Bratislava, New York and Singapore.
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