1. Ozdaq dacked The ASX’s new technology sector index, the S&P/ASX All Tech Index (ATI), an Australian version of the US Nasdaq composite index – which is why we’ve dubbed it the Ozdaq – had a less than auspicious start yesterday amid as concerns about coronavirus rattle markets globally. Around $51 billion in value was… Read more »
Happy Monday team. Here are some water cooler moments for you. 1. Uber faces US$1bn claim that it stole the idea A California jury has given the go ahead to an inventor’s plan to lodge a US$1 billion damages claim against Uber for allegedly stealing the idea from him. Kevin Halpern… Read more »
A new index featuring ASX-listed companies in the fast-growing technology sector launches on the Australian stock exchange on Monday. The S&P/ASX All Technology Index (All Tech Index), a partnership between the ASX and S&P Dow Jones Indices using the S&PDJI methodology, will go live on February 24, with an Australian version of the US… Read more »
First mover Uber has managed to capture 90% of Australia’s ridesharing market, a Roy Morgan study has revealed, but competition is expected to heat up as Chinese rival DiDi enters the Sydney market next month. When Uber first arrived in 2013, the service was illegal, but managed to establish its dominance before ridesharing was… Read more »
Fire-ravaged Australian communities struggling for power will have an solar energy solution thanks so Atlassian co-founder Mike Cannon-Brookes and his wife Annie. The duo are investing up to $12 million in a venture called Resilient Energy Collective (REC), designed to rapidly deploy solar panels and Tesla batteries in communities that have lost power in natural… Read more »
When former Shark Tank investor Andrew Banks went hunting for cash for Plastiq.it, the cashback retail rewards startup he founded just over a year ago, the serial entrepreneur took a novel approach, turning to equity crowdfunding seeking $400,000. The idea has paid off in spades, with the offer closing after hitting its target 25… Read more »
The Sydney Startup Hub in York Street, above Wynyard train station, marked two years of operation this month. The idea for an innnovation hub in the CBD was born in 2017 and kicked off in Feb 2018. It’s home to accelerators and co-working spaces such as Fishburners, Stone & Chalk, Tank Stream Labs, The Studio and Antler… Read more »
Happy humpday. We hope you’re being paid the right wage. 1. WiseTech shares smashed (again) as it blames coronavirus for revenue downgrade Shares in Sydney-based logistics company WiseTech (ASX: WTC) are being smashed today after the company downgraded its revenue and earnings forecasts for the second half of FY2020, blaming coronavirus. The company… Read more »
St George Bank’s $100,000 Kick Start program is offering up to $40,000 in grants to help a startup or small business venture launch or boost its early-stage growth. Applications are open now for the grants here. The plan is to choose 12 finalists for a pitch competition at TEDxSydney on May 22, with two $40,000… Read more »
Hello and happy Tuesday. For Jeff Bezos, it’s just another Day One on earth. 1. Holden out Tesla’s share price shot through the US$800 barrier last week and on Friday Elon Musk’s company announced it was selling 2.65 million secondary common stock offering at $767, a 4.6% discount from the closing price, to raise… Read more »
An investigation of social network connections – seen as a key indicator of innovation – on LinkedIn between Australia, the US and New Zealand concluded Australia’s agtech sector is falling behind the others. Australia’s agtech network is dominated by a few key players while the US and New Zealand agtech networks are more evenly distributed. Compared… Read more »
Chinese ridesharing giant Didi will finally land in Sydney next month, nearly two years after it first landed in Australia, taking on US firstmover Uber and Indian rival Ola just as the honeymoon period for growth in the sector in the unprofitable sector appears to be coming to an end. Didi’s Sydney operations will… Read more »
A Sydney-based contract and supplier software platform Portt, which spent a decade bootstrapping its way into a global business, has finally take on its first outside funding as it looks to tackle slavery risks in company supply chains. Co-founders and co-CEOs Chris Holmes and Andre Pinkowski raised $4 million in a round led by the… Read more »
Three Victorian startups, Envision Systems, Sky Ledge and WeGuide, have landed contracts worth $450,000 as the first cohort of CivVic Labs, the accelerator to startups to gain access to government procurement contracts. Each startup received $150,000 from the Better Care Victoria Innovation Fund. Sky Ledge will work with St Vincent’s Hospital to build out the prototype of a… Read more »
Two years after Sydney put on its best o-face for Australia’s first Sextech hackathon, it’s Melbourne’s turn to find its erogenous zones this Valentine’s Day. Future of Sex entrepreneur Bryony Cole and Disruptors Co. founder Gavin Heaton are hosting a weekend-long hackathon at South Melbourne co-working site CreativeCubes.Co, running February 14-16. Amid ongoing debate… Read more »
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