Deep tech
Politics

What deep tech founders need to know about the Budget

- May 17, 2024 3 MIN READ

To ensure our long-term economic prosperity, Australia must continue to develop and establish sovereign capabilities in future critical industries. “This requires aligning the nation on a bold and visionary future through policy levers focussed on long-term, transformational opportunities while also galvanising short-term action to address our current circumstances”, commented Cicada Innovations CEO Sally-Ann Williams.  Sally also… Read more »

Smart industry robot arms for digital factory manufacturing, Industry 4.0
Politics

More innovation and diversity is needed in tech if the government really wants a ‘future made in Australia’

- May 17, 2024 3 MIN READ

This year’s federal budget is making up for decades of lost time – both in our clean energy transition and in betting on new technological breakthroughs. The Future Made in Australia Act holds tantalising potential for building Australian science, research and development. The aim is to turn Australia into an innovation and clean technology superpower.… Read more »

Passport, Australian immigration
Politics

Australia scraps Global Talent visa for National Innovation one amid immigration cuts

- May 16, 2024 2 MIN READ

The tech and talent migration programs will be scrapped and replaced with a new National Innovation Visa under major federal budget reforms that will ensure 70% of permanent migration places are set aside for skilled workers. Treasurer Jim Chalmers handed down the 2024-25 federal budget in Canberra on Tuesday night, outlining a significant overhaul to… Read more »

Carolyn Breeze
Politics

Budget 2024: Tech sector reactions

- May 15, 2024 11 MIN READ

The answer to “how to you eat a shit sandwich?” when it comes to politics is: “With a grin”. The startup sector put on a brave face tonight following the 2024 federal budget. There were some big ticket items, but two years into its 3-year term, Labor offered little to tech specifically as it focused… Read more »

Breaking Bad, money pile
Funding

Budget 2024: It seems the federal government went dutch with Queensland on the $940 million PsiQuantum deal, but the really surprising part is a $28m fine print cost

- May 14, 2024 2 MIN READ

We now know how much the federal government is spending to bring PsiQuantum, the California-based quantum computing company with Australian founders, to Brisbane. Well, almost. The budget says $466.4 million in equity and loans from Export Finance Australia on the National Interest Account. And it seems that a fair slab is a loan “estimated to exceed… Read more »

Jim Chalmers
Politics

Budget 2024: The key points – what you need to know

- May 14, 2024 2 MIN READ

The third Chalmers’ budget will deliver a surplus of $9.3 billion for this financial year – the second successive surplus of the Albanese government. This will be the first time there have been back-to-back surpluses in nearly two decades. But the forecast surplus is less than the $22.1 billion last financial year. Tuesday’s budget will… Read more »

digital ID
Politics

Budget 2024: Digital ID scores another $288 million towards $1 billion roll out

- May 14, 2024 3 MIN READ

A further $288 million will be provided to the government’s digital identity scheme in the federal budget, bringing its total funding to nearly $1 billion. Treasurer Jim Chalmers will also extend the instant asset write-off test for another year, allowing tech and other businesses to immediately deduct $20,000 from eligible assets. Chalmers will hand down… Read more »

Politics

Elon Musk 1, eSafety Commissioner 0, in legal battle over priest stabbing video removal on X

- May 14, 2024 2 MIN READ

Elon Musk has won the latest round in his Federal Court fight with Australia’s eSafety Commissioner over demands that his social media company X (aka Twitter) remove footage of a bishop being stabbed in Sydney last month. The decision by Justice Geoffrey Kennett limits the powers of  Commissioner Julie Inman Grant and the country’s Online… Read more »

child with money raining down
Funding

Submissions to the parliamentary inquiry into the wholesale investor test close next week

- May 9, 2024 3 MIN READ

Rumours that the federal government was looking at dramatically ramping up the thresholds to qualify for the wholesale investor test sent shockwaves through the startup sector at the start of 2024. The purported changes being considered as Treasury looked into the issue were increasing the asset threshold to $4.5 million, up from $2.5m, with the… Read more »

Politics

Breakthrough Victoria cops a $360 million haircut, LaunchVic scores $40 million in state budget

- May 7, 2024 3 MIN READ

The Victorian government is cutting funding for its sovereign venture fund, Breakthrough Victoria, by $90 million annually over the next four year, today’s state budget reveals. The reduction in capital allocation for the $2 billion fund comes amid sustained criticism and a high profile media campaign by the likes of Adir Shiffman, chair of ASX-listed… Read more »