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 »
Welcome to The Ask, Our column designed for founders looking for capital. It may be venture capital, crowdfunding or another path, and is designed to flag your startup to potential investors. If you’re on the hunt for cash, we’re happy to share the news with Australia’s startup community. This is your chance to pitch directly… 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 »
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 »
Brisbane solar battery startup Redback Technologies is out of voluntary administration after two months with new owners in charge. Fintech Australia Ebon has put an initial $500,000 into the business after creditors approved a deed of company arrangement (DOCA) earlier this month to allow Redback, founded in 2015, to trade its way back to profitability,… Read more »
The receivers of Brisbane-based electric vehicle charging venture Tritium are hopeful of finding a buyer for the company, having stabilised the business and kept it trading. The 23-year-old business imploded last month after attempts to find a buyer fell through as it teetered on the brink of insolvency, despite being listed on the US Nasdaq, when… Read more »
Press Play is a pre-accelerator program for women looking at stepping outside their corporate, scaleup or startup jobs to become a startup founder. It’s designed to take them from employee to entrepreneur in 12 weeks. Thanks to the support of LaunchVic and several other supporters there are 100 scholarship, valued at $4,700 each, available for… Read more »
Digital beef cattle management platform AgriWebb has raised US $US7.2 million (A$11m). The 10-year-old startup attracted listed Swedish climate solutions firm Munters Group as a new investor, with existing backers Germin8 Ventures, Grosvenor Food & AgTech, and Telus Ventures, the VC arm of the Canadian telecommunications giant, also part of the round. AgriWebb, founded in… Read more »
India is now the third largest fintech industry in the world, with 1.4 billion people making 135 billion digital transactions last year. That makes it ripe territory for Australian startups, such as FootprintLab, looking to expand globally. Sydney-based cleantech FootprintLab has a product in global demand: credible, up-to-date and commercially useful carbon footprint data. Regulators,… 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 »
Melbourne tech startup V2 Digital has pocketed a $30 million equity investment from Columbia Capital just 12 months after launching. The digital transformation and data consultancy takes vision to value in companies, combining its experience, data, software, and cloud expertise to upskill internal talent. Founder Craig Howe launched the business in April 2023 and now has… Read more »
The best tech companies to work for in Australia have been revealed, with some familiar faces topping the list. The Great Place to Work organisation’s annual Best Workplaces in Technology Australia list has been unveiled, based on confidential surveys of tens of thousands of employees at tech firms around the country. The list defines a great workplace… Read more »
Tomorrow, scalps across Australia will be revealed for a good cause when around 16,000 people lose their hair as part of the Leukaemia Foundation’s annual fundraiser World’s Greatest Shave. Finder cofounder Fred Shebesta is among them and one of Australia’s top 10 fundraisers, collecting more than $26,000 in donations. More than $10 million has been… Read more »
Wollongong-based electrolyser startup Hysata, which is developing production methods for low-cost green hydrogen, has raised $172 million (US$111.3m) in a Series B, a record for clean tech in Australia. The round was co-led by the venture arm of oil industry giant bp, and Investec’s Hong Kong-based alternative investment firm Templewater, with both chipping in US$10m (A$15.2m).… Read more »
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