As the CONNECT Sustainable Industries Program draws to a close, we can reflect on the incredible opportunities that the cohort experienced throughout their journey.
The 2024 program commenced on the 24th of June when team members of 10 sustainability driven businesses (see business profile’s below) attended the initial bootcamp held at The SET in Busselton. To read more about this bootcamp, visit our previous blog ‘Meet our CONNECT Sustainable Industries 2024 Cohort!’
Masterclass 1: Grant Writing & Impact Investing:
Continuing with the program schedule, the next meeting for the group was on the 18th of July. This masterclass focused on the importance of aligning grants and equity investment with the overall business strategy and highlighting the potential benefits of collaboration, capacity building, and capital.
Kylie Hansen from Impact Seed Org presented an overview of Impact Seed’s work, including enterprise development, commercialisation, and advisory services. She also discussed the spectrum of responsible investment, from traditional investment to philanthropy, and the concept of impact investment. Kylie provided an overview of the impact investment and loan fund, highlighting its recent launch and the focus on supporting enterprises with social impact.
Masterclass 2: Financial Resilience:
Led by Simona Hughes from Financial Utilities, this workshop involved insightful discussions on the importance of financial resilience in business, outlining the main principles that drives business owners to success.
Simona highlighted the significance of strategising and understanding your business model and margins to scale a business effectively without “growing broke”. Simona walked through a very straightforward and simple way of calculating the business “gross margin” and “break-even” point.
There was discussion around profit-level tactics and strategies that business owners can use when tweaking their business model and responding to changing business environments that threaten the profitability and sustainability of the business.
To conclude this session, the two business cashflow cycles were discussed, the importance of cash flow management, and then finally an overview of the tax, structures, and R&D.
Masterclass 3: Investor Readiness:
Led by Greg Riebe, key topics of investor readiness and capital-raising strategies were covered in this Masterclass including the importance of adopting a buyer’s mindset and preparing for investment opportunities throughout a business’s lifecycle.
Greg also emphasized the need for a well-defined strategy and patience in the capital raising process, outlining investor expectations for high-growth ventures, key elements of investment readiness, and the complexities of due diligence.
Additionally, Greg discussed valuation, stressing the balance between present and future value, traditional methods, and the importance of aligning interests.
Masterclass 4: How to Write a Better Copy:
Kat Rischbieth, founder of Salt Copy, highlighted the importance of having a website over relying solely on social media and discussed how copywriting can connect with customers through effective storytelling.
She also covered challenges in communicating sustainability messages, the need for content repetition, and the significance of tailored content and calls to action.
The discussion emphasised optimising content for search engines and integrating copy strategy with broader brand goals.
Masterclass 5: Communication Strategy and Pitch Prep:
Masterclass 5 provided an invaluable experience for the CONNECT cohort, focusing on communication strategies and pitch preparation for the Regional Innovation Summit, led by Myles Pollard. The cohort applied the skills acquired during this session to present their business pitches at the Summit, which drew an audience of over 100 attendees.
With two decades of experience as an actor, writer, director, and producer in film and television, Myles brought a wealth of knowledge to the workshop. His delivery was not only relaxed and professional but also highly informative. Participants noted how quickly he identified their strengths and weaknesses, allowing him to tailor the session to their specific needs.
Fellow CSI member Nick Clayton from Mineral Magic stated,
Regional Innovation Summit:
The Regional Innovation Summit showcased the incredible pitches from our cohort, where innovative founders presented bold ideas that are shaping the future of sustainability, tech, and social impact.
From carbon project assessments to cutting-edge environmental solutions, each startup brought their unique vision to the table, demonstrating the power of innovation and collaboration.
To dive further into the 2024 Regional Innovation Summit summary and key takeaways, read our blog post ‘Regional Innovation Summit Reveals Steps for a Sustainable Future‘.
Masterclass 6: Debrief and Strategic Planning Session
At the final meeting of the program, the cohort had the opportunity to reflect on their learnings, ask final questions, and strategise the next steps in their journey. Although this session marked the conclusion of CSI 2024, the cohort are still in contact with one another, assisting in their business ventures.
CONNECT Sustainable Industries is supported by the Department of Jobs, Tourism, Science and Innovation through the New Industries Fund – X-tend WA Program.