Global water scarcity is putting Australian 'aquapreneurs' on the map
Water startups have struggled to attract climate tech funding despite increasing global water scarcity. A new breed of Australian startups are working to change that.
As the driest inhabited continent on the planet, it’s unsurprising Australia is home to some of the world’s most innovative water technologies.
From equipment to remotely measure and monitor water levels and rainfall on farms, to novel ways of producing potable water, a new breed of so-called “aquapreneurs” have been perfecting their digital solutions in Australia, before venturing out in the world.
But water tech businesses are often overlooked when it comes to early stage venture capital. While the broader climate tech sector has attracted USD28 billion, just $470 million of that has found its way to water tech startups, according to GWI Water Data.
Tenacious Ventures co-founder Matthew Pryor puts the lack of appetite down to the fact that society undervalues water. "Up until recently, water has not cost much in many countries. It has been hard to sell it on a resource efficiency basis, because it is so cheap and freely available."
