Nutromics’ latest raise adds fuel to its push for continuous molecular monitoring in the ICU, with vancomycin the first target and a local advanced-manufacturing play on the table.
About 400 medicines are in short supply in Australia. Of these, about 30 are categorised as critical. These are ones with a life-threatening or serious impact on patients, and with no readily available substitutes. Since 2024, there has been a nationwide shortage of sterile fluid. This continues to affect health care across Australia. However, medicine… Read more »
Heat exchange manufacturing startup Conflux Technology has raised $11 million in a Series B. The round was led by Breakthrough Victoria, which chipped in $5 million, with participation from AM Ventures and Acorn Capital. The regional Victorian, based in Waurn Ponds, has developed next generation heat exchangers using addictive manufacturing (AM). They transfer thermal energy… Read more »
Funding from the federal government’s new $392 million Industry Growth Program (IGP) has begun to flow, with $7.4 million in grants awarded to give startups spanning biotech, robotics, renewable energy, cybersecurity and medtech. IGP was announced in the 2023 federal budget, replacing the former Entrepreneurs Program, which had the same level of funding, but was… Read more »
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 »
SupplyScope, a product development startup dealing with regulatory compliance and safety to get to market faster, has raised $300,000 from early-stage investor Skalata. The challenge faced by product suppliers is that takes months of testing and paperwork to get to market. As a result, many have bypassed larger stockists by selling direct-to-consumer and via online… Read more »
Australia is a trading nation. Its economy relies on a strong and open global trade environment. Australian governments have historically rejected protectionist industrial policies that undermine fair competition, and Canberra has long been a staunch advocate of the World Trade Organisation, whose rules help “promote and protect the open global trading system”. Yet Labor has… Read more »
The federal government will directly intervene to support and subsidise key growth areas such as clean energy and innovative technologies in a significant policy shift that Prime Minister Anthony Albanese will take to the next election. In a speech to the Queensland Press Club on Thursday, Albanese set out a “more strategic and more sophisticated”… Read more »
Early stage investment company Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies. Startup Daily is sharing the details of each venture in the “Antler Investor Memos” series, which is designed to give you a quick, sharp understanding of the startups and people… Read more »
The Albanese government’s signature business investment vehicle, the $15 billion National Reconstruction Fund, has its first boss, with veteran Macquarie Group executive Ivan Power named as CEO. Power has worked in global investment for more than 25 years alongside a strong track record in working with early-stage startups and social ventures.. UNSW director of entrepreneurship… Read more »
Solar panel startup SunDrive has opened a pilot production and commercialisation facility in southern Sydney, having also landed another $11 million in funding from the government-backed Australian Renewable Energy Agency (ARENA). Prime Minister Anthony Albanese and climate change and energy minister Chris Bowen opened the plant in Kurnell on Wednesday. SunDrive, which has received extensive… Read more »
Manufacturing process management platform Factory.app has raised $1.05 million in a Seed round led by early-stage VC Investible. The two-year-old Sydney software startup was also backed by TechnologyOne founder Adrian DiMarco, 1in100 Ventures, Beachhead Venture Capital, and Hugo-Hamman Investments. Serial entrepreneur Richard Hugo-Hamman, CEO of the legaltech firm The LEAP Group, along with HotelsCombined cofounder… Read more »
Australia’s federal parliament has approved a A$15 billion National Reconstruction Fund, intended to reverse the nation’s dwindling manufacturing sector. It is the “first step” in Prime Minister Anthony Albanese’s election promise “to revive our ability to make world-class products.” The fund will focus on investing in high-tech manufacturing. There are seven priority areas: clean energy… Read more »
The 2020-2021 Budget, to be delivered by the Treasurer next Tuesday, will be arguably one of the most important, if not the most important since the end of the Second World War. This year, the global economy is forecast to contract by around 4.5%. The world economy during the GFC declined by 0.1%. So in… Read more »
The federal government is selecting six priority areas for support in a $1.5 billion manufacturing plan Scott Morrison will outline in a pre-budget address. They are resources technology and critical minerals processing, food and beverage, medical products, recycling and clean energy, defence, and space. The plan will also focus on building “supply chain resilience” after… Read more »
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