The 2022 pre-election budget was filled with plenty of promises of fast cash for voters ahead of the May election. But in terms of the tech sector’s Budget wish list, the focus for digital transformation in Treasurer Josh Frydenberg’s fourth budget is squarely on small business with increased tax concessions for small businesses that invest… Read more »
With rising inflation, a war in Europe affecting global fuel costs, and ongoing supply strain issues, this year’s budget is shaped not just by the upcoming election but a growing cry in the community about the cost of living. But despite some significant multi-billion dollar spends within the next six months, the deficit is predicted… Read more »
When Josh Frydenberg says his key cost-of-living budget measures are “temporary” and “targeted”, he’s precisely right, though the reasons are more opportunistic than he’d spruik publicly. He says it’s all about giving help when it’s needed while not baking in long-term spending. But actually, and equally, the measures are aimed squarely at the imminent election,… Read more »
The Morrison government’s election budget halves petrol excise for six months and gives handouts to taxpayers, pensioners and welfare recipients in a cash splash aimed at clawing back votes. Treasurer Josh Frydenberg, who unveiled the giveaway budget in Parliament House on Tuesday night, has been able to juggle big spending with a reduced deficit thanks… Read more »
From clean water to crypto and colostomy breakthroughs, the 11 startups in the Macquarie University Incubator are the most diverse the five-year program has seen, according to director Melissa Ryan. The 2022 cohort follows in the wake last year’s alumni, which have already attracted more than $44 million in external funding. The six-month Startup Educate… Read more »
Until now, access to exclusive institutional-grade private equity funds, run by the world’s leading asset managers, has typically been restricted to large institutions and the ultra-wealthy. It is telling that many of the largest and most successful fund managers in the world do not have brands that are familiar to even the most active individual… Read more »
ANZ bank has minted its own stablecoin, A$DC, becoming the first Australian bank to create its own cryptocurrency with a value pegged to the Australian dollar. The ANZ stablecoin was created for the billionaire Smorgon family’s investment firm Victor Smorgon Group, which was issued with the 30 million A$DC in February. Unlike other popular stablecoins, A$DC… Read more »
Biotech scale-up Microbio is looking to raise capital following positive domestic pilot study results for its bloodstream infection (BSI) test ahead of taking it to market The Brisbane-based venture’s InfectID-BSI test has the potential for significant improvement in detecting bloodstream infection and sepsis, the world’s mostly deadly infection, with 11 million deaths annually. InfectID-BSI is an in… Read more »
LaunchVic CEO Dr Kate Cornick has won the Global Policy Champion award at the annual Global Entrepreneurship Congress (GEC) in Riyadh, Saudi Arabia. The GEC is a gathering of startup champions from around the world who are collaborating to develop a global entrepreneurship ecosystem. The congress is heading to Australia for the first time in… Read more »
The University of NSW entrepreneurship program, UNSW Founders, will launch a new venture-backed accelerator for deep tech startups focused on synthetic biology and biotech with support from the CSIRO’s VC arm, Main Sequence. SynBio 10x will run in conjunction with the RNA Institute and UNSW School of Biotechnology & Biomolecular Sciences. Main Sequence will invest $120,000… Read more »
Byron Bay-based real-time merchant payments fintech Zepto (formerly Split Payments) has raised $25 million in a Series A. The round was led by Sydney VCs AirTree Ventures and Decade Partners. The cash is tagged for domestic growth as well as international expansion, strategic hires and developing new functionality for Zepto’s on top of the New… Read more »
Federal treasurer Josh Frydenberg hands down his fourth and final budget before the federal election on Tuesday evening and the startup sector is hopeful that as it prepares to head to the polls, the Morrison government will address a range of issues facing tech. So what’s on the wish list? We spoke to a range… Read more »
Gold Coast-based Gilmour Space Technologies has received a $52 million grant from the federal government for its collaborative project bringing together more than 30 local space tech startups, and universities. The Australian Space Manufacturing Network (ASMN) was awarded Modern Manufacturing Initiative Collaboration (MMIC) grant for the development of sovereign space capabilities in Australia. The grant… Read more »
The NSW government has opened applications for three new grant initiatives offering up to $95 million research, development and commercialisation of clean technologies. NSW treasurer and energy minister Matt Kean said the grants will help drive innovations developed by scientists and startups as part of the push towards net zero by 2050. “Boosting emerging innovations… Read more »
Petrol prices are hitting eye-watering highs. As global affairs put pressure on the availability of commodities, we’re likely to continue seeing volatile petrol prices in the future. So there’s never been a better time to embrace alternative modes of transport such as e-bikes and e-scooters (also called “micromobility” devices). In Australia’s major cities, the average… Read more »
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