R&D incentive uncertainty, migration changes, and the cost of living crisis are slamming the Australian startup community, according to the 2024 Startup Muster report. Launched on Monday, the 2024 report found Australians are starting ventures at an increasingly older age with more looking at overseas markets and investors. The cost of living crisis, however, was… Read more »
The federal government’s $15 billion National Reconstruction Fund has made its second investment, taking a $13 million equity stake in Canberra startup Quantum Brilliance. It follows $40 million for a mining tech manufacturer announced last month. The National Reconstruction Fund Corporation (NRFC) funding is for QB to build Australia’s first quantum diamond foundry for its… Read more »
In late November, Australia’s federal parliament passed landmark legislation banning under-16s from accessing social media. Details remain vague: we don’t have a complete list of which platforms will fall under the legislation, or how the ban will look in practice. However, the government has signalled that trials of age assurance technologies will be central to… Read more »
The best in the Australian climate tech ecosystem was honoured last week with eight awards honouring the startups and supporters who helped make it happen. The Australian Climate Tech Connect & Awards 2024 were hosted by Climate Salad, with the theme of connection. Climate Salad cofounder and CEO Mick Liubinskas said the day “delivered in spades”… Read more »
Industry group FinTech Australia has two new board members following its AGM, with Tiimely chief risk and compliance officer Jodi Ross and Tractor Ventures CEO and cofounder Jodie Imam signing on as directors. Chair Sarah Gorman said the candidates nominated this year were all women 2024. “Both Jodi and Jodie bring a wealth of experience… Read more »
New Zealand artificial intelligence-augmented startup Grw AI has raised NZ$2.4 million ($2.2m) in a record pre-Seed round led by US investors in less than a month at a NZ$12 million valuation. The investment from a roll call of West Coast VCs and Silicon Valley angel investors with see the Grw AI team relocate from Auckland… Read more »
Founders by their very nature see things others have yet to realise. Their challenge is to then get others to see that vision, believe in and back it. And then convince their customers to use a solution they didn’t know they need. Seven years ago, Dr Elliot Smith’s Maxwell Plus was just such a startup.… Read more »
A report into the state of play for Western Australia’s startup sector has warned the state risks slipping behind its East Cost rivals unless there’s a great focus on reforms and funding for the sector. The report, ‘Dare to Venture: Startups and the innovation ecosystem in Western Australia’, by the Bankwest Curtin Economics Centre argues… Read more »
The federal government has deprioritised 218 occupations while escalating some 456 others – including a range of cyber security and ICT roles – as it works to boost flagging national productivity by focusing its evolving skilled visa program on the areas of highest need. Designed “to replace complex, out of date and inflexible occupation lists… Read more »
An eight-year-old health tech startup helping elderly people live safely at home has scored $2 million in funding, led by Breakthrough Victoria. Umps Health is developing sensors and AI for proactive aged care at home. Breakthrough Victoria invested alongside Intervalley Ventures, with follow-on funding from existing investors Sprint Ventures, the Cerebral Palsy Alliance, the 5Point… Read more »
Spotify has just released its 2024 Spotify Wrapped, the music streaming site’s annual presentation of each user’s yearly listening habits. It gives you a fun recap of your most listened to songs, artists and genres from the past year – complete with stats like how many minutes you listened and your top genre “phases” or… Read more »
Seven venture capital firms will look to invest up to $150 million in Western Australian startups underpinned by a $45 million commitment from the state government’s WA Venture Capital initiative (WAVC). Premier Roger Cook announced an additional $15 million for WAVC at West Tech Fest in Perth, topping up the government’s initial $30m commitment. Cook… Read more »
Crowd-sourced funding (CSF) platform Birchal’s new Birchal First Syndicate has turbocharged $1.9 million in funding for Victorian hardware technology startups in 90 days since its launch. The angel syndicate, backed by a $300,000 LaunchVic grant, combines its lead investments with retail investor support on the crowdfunding platform’s equity capital raising campaigns. While battery-powered aircraft engine… Read more »
A new investment fund focused on and run by women has been kick-started with $100 million Western Australian philanthropist Nicola Forrest. The funds have come from the Minderoo Foundation, which Forrest established with her ex-husband, mining billionaire Andrew Forrest. The philanthropic fund has gender equality is a priority focus. Future Generation Women (FGW) will be… Read more »
One of Australia’s best tech and innovation festivals, South Australia’s _SOUTHSTART, is offering 10 startup founders to take the stage for its pitch showcase in 2025 The annual 3-day event brings together founders, investors, and industry visionaries to connect, and shape the future, next year from March 4-6, in Adelaide’s Garden of Unearthly Delights, as well… Read more »
The NSW government is evicting the Sydney Startup Hub from its CBD location, moving it to ‘somewhere’ in Tech Central in late 2025 
Nearly 9000 taxi drivers just scored $152 million from Uber as compensation for its illegal launch in Australia 
Bootstrapped father & son AI startup banks $22 million Series A in 1st raise after 6 years 
SISTER ACT: Nicola Forrest drops $100 million into an investment fund to back women 
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