Australia is a trading nation. Its economy relies on a strong and open global trade environment. Australian governments have historically rejected protectionist industrial policies that undermine fair competition, and Canberra has long been a staunch advocate of the World Trade Organisation, whose rules help “promote and protect the open global trading system”. Yet Labor has… Read more »
FinTech Australia is calling on the Federal government to address the challenging capital raising environment for startups and renew its support for Austrade’s effort to promote our local sector abroad. In its pre-budget submission tabled ahead of federal treasurer Jim Chalmers announcing his 2024 Budget on May 14, FinTech Australia CEO Rehan D’Almeida said the… Read more »
Quantum technologies are the “future of made in Australia’, federal industry minister Ed Husic said as he pushed for more quantum research commercialisation in Australia. Husic made a speech at a Quantum Australia event on Wednesday morning, focusing on the federal government’s National Quantum Strategy and efforts to make Australia a quantum powerhouse in the… Read more »
Rumoured changes to the sophisticated investor test will create more holes in funding for technology founders to navigate when we should be bringing more people into startup investing with education pathways. While jostling over whether the changes can be tweaked to lessen the damage on early-stage startup investing, the whole episode seems to fundamentally misunderstand… Read more »
Advocates believe a perfect storm of competition concerns, new fuel efficiency standards and the axing of archaic parallel-import restrictions could provide “achievable change” that boosts the supply of electric vehicles (EVs) and slashes their prices by around $9,000. That’s the amount Australians are overpaying for EVs, former ACCC chair Allan Fels concluded in a recent analysis of price… Read more »
The Albanese government’s signature business investment vehicle, the $15 billion National Reconstruction Fund, has its first boss, with veteran Macquarie Group executive Ivan Power named as CEO. Power has worked in global investment for more than 25 years alongside a strong track record in working with early-stage startups and social ventures.. UNSW director of entrepreneurship… Read more »
Australia’s science and technology sectors have urged Federal Parliament to pass the Australian Research Council Amendment Bill – and make a key amendment that requires the research funding agency to notify successful applicants within 21 days of grant approval. In its submission to the Senate Committee on Education and Employment reviewing the Bill, Science &… Read more »
On Wednesday, the federal Minister for Industry and Science Ed Husic revealed an interim response from the Australian government on the safe and responsible use of artificial intelligence (AI). The public, especially the Australian public, have real concerns about AI. And it’s appropriate that they should. AI is a powerful technology entering our lives quickly.… Read more »
My venture partners and I are raising money for new venture funds at the moment and there’s an awkward moment every time I have an initial conversation with anyone who’s considering investing in VC for the first time: the moment when I have to raise the question of holding a sophisticated investor certificate. When I… Read more »
● Increases to the sophisticated investor qualification thresholds are planned ● The startup sector is worried it will dramatically cut access to early stage investment capital ● Floated changes increase the thresholds by 80% after 22 years ● Around 16% of Australians currently qualify ● The bigger issue is education for investors ● A broad… Read more »
MyGov will be modernised with passwordless logins and a new Digital Inclusion Standard, the federal government has announced in responding to a scathing audit that warned current legislation “impedes service delivery” through the underfunded platform. The government’s response to the myGov user audit – an election promise that began in September 2022 as a “myGov revolution” and handed down its findings in… Read more »
The government will give Australia’s competition watchdog more power to keep the likes of Google and Meta accountable as part of the News Media Bargaining Code which redistributes wealth from big tech companies into local news outlets in an effort to address an apparent power imbalance in the media industry. On Monday, the Commonwealth said… Read more »
Revenue in the Australian video game industry has risen to $345.5 million, up 21% on the FY2022, according to the latest data from the Australian Game Developer Survey (AGDS). The eighth annual survey, from peak industry body, the Interactive Games & Entertainment Association (IGEA) corroborates Australian consumer sales data released earlier this year, showing the… Read more »
If someone were to ask you how space technologies impact your daily life, or how much Australia should invest in space, would you have an immediate answer or would you wonder why these questions were even being asked? Understanding what the average Australian thinks about space is essential – voters and taxpayers will only encourage… Read more »
Six months after trumpeting $19.8 million for an “Australian Centre for Quantum Growth” the Albanese government and science and innovation minister Ed Husic have slapped $18.5 million on the table hoping someone will take up the reins to make it happen. The $18.5 million in funding is to establish the Australian Centre for Quantum Growth… Read more »
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