The federal budget is 26 million seagulls (us) arguing over a $630 million chip. And the treasurer, currently Jim Chalmers, has to play parent and decide who gets pocket money, while also knowing that when we shout “you’re not my real dad”, we can really mean it every three years. As the editor of Startup… Read more »
The government has handed down its budget for 2024–25. It’s delivered a $9.3 billion surplus for the financial year just about to finish but is forecasting a $28.3 billion deficit for next year. Here are the key points: Erin Cooper-Douglas, Deputy Politics + Society Editor, The Conversation and Matt Garrow, Editorial Web Developer, The Conversation… Read more »
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 »
Startup Daily’s had a look at the 2024 federal budget and has a slightly different view to the minister for industry, science and technology, Ed Husic, on what it has to offer. Like many in the sector, we’ve been waiting patiently for the moment where startups are recognised as an extraordinary opportunity by the government,… Read more »
Thanks for reading. See you next year.
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 »
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 »
Impact venture capital firm Giant Leap has told a parliamentary inquiry into the sophisticated investor test that the government should measure investor quality rather than the size of their capital when it comes to the threshold qualifications The investment sector has swung into action as submissions to the inquiry close tomorrow and Startup Daily revealed… Read more »
After the federal government committed hundreds of millions in funding to PsiQuantum as part of a $940 million deal to bring the US quantum computing startup to Brisbane, many in the startup sector are wondering if that’s the start of a golden for Commonwealth cash, or the equivalent of blowing you night out budget on… Read more »
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 »
Australia’s startup industry is entitled to ask itself what are the government’s expectations when it comes to technology? While some of the government’s moves around Big Tech have been encouraging, proposed changes to mergers and acquisitions requirements will likely have a chilling effect on dealmaking and investment in our local startup industry. What’s happened? Last… Read more »
Three space tech startups have received $18 million under the International Space Investment India Projects program, funded by the Australian government. Western Australia’s LatConnect60 received close to $5.8 million to develop and build a Low Earth Orbit satellite in Australia to collect information on carbon emissions at a very high resolution. The satellite will be… Read more »
The federal and Queensland governments have put the house on a US quantum startup over local rivals in a financial package worth $940 million (US$620m) to build a quantum computer in Brisbane. PsiQuantum was founded in Palo Alto, California in 2015 by expat Australian professors Jeremy O’Brien, Terry Rudolph, Mark Thompson and Dr Pete Shadbolt.… Read more »
Mental Health Australia chair Matt Berriman has resigned from the position over concerns the government is not doing enough to address the issue. The investor and entrepreneur, who founded venture capital fund Real VC, and marketing startup Unlockd, took on the role in December 2021 following his own diagnosis with dipolar disorder and an attempt… Read more »
In the free-for-all between the Australian government and Big Tech boss Elon Musk last week, the government had to be on a winner. Most people would have little sympathy with Musk’s vociferous opposition to being told to take down from X (previously Twitter) the video of the stabbing of bishop Mar Mari Emmanuel at a… Read more »
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