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    Innovation

    This Month

    Dan Fitzgerald’s regenerative tech fund ReGen Ventures successfully raised $90 million in 2021/22.

    Aussie tech’s climate crisis as start-ups face capital crunch

    At least 100 Australian climate tech start-ups need to raise capital in the next nine months to avoid going bust, but say the bar for investment is sky-high.

    • Yolanda Redrup
    Revolut has added a BNPL feature to its so-called ‘financial super app’.

    Revolut’s ambition adds to major banks’ headache

    “If we do a good job, we can attract more customers from traditional banks,” says the global CFO of Revolut, which has more than 600,000 users in Australia.

    • James Eyers

    June

    Black.ai co-founder Keaton Okkonen says Zoox and Waymo are pointers to the AI talent pool in Australia.

    Look at Zoox and Waymo to see Australia’s AI potential

    The local ecosystem for investment in artificial intelligence is in its infancy, but could thrive if given the right funding.

    • Michael Bailey
    Employment Hero co-founder Ben Thompson put the big idea out there on Tuesday.

    1pc of your super for venture capital? Add it to the list

    Everyone wants a piece of the $3.9 trillion super system and now we can add venture capital. The problem is, it is not the government’s money to redirect.

    • Anthony Macdonald
    Orica CEO Sanjeev Gandhi and chairman Malcolm Broomhead at Orica House in East Melbourne.

    What do Nobel, Dulux and Australia’s first high-rise have in common?

    From making bricks for the 1956 Olympics to paint, explosives and mining technology company Orica’s long history mirrors the Australian economy.

    • Patrick Durkin
    Advertisement
    Science and Industry Minister Ed Husic has signed the contracts to invest $US125m in quantum computing start-up PsiQuantum.

    Government’s $189.5m quantum computing VC investment revealed

    Previously secret details behind the mammoth investment in US-based quantum computing firm PsiQuantum have been uncovered, including the government’s equity investment.

    • Paul Smith
    Robert Waugh and Drew Bradford left NAB to create Ubiquity, a new AUD stablecoin.

    NAB kills its stablecoin, bankers decamp to form Ubiquity

    The bank canned its digital Australian dollar, known as the AUDN, so Rob Waugh and Drew Bradford left to set up their own product, to be called Ubiquity.

    • James Eyers

    May

    Industry and Science Minister Ed Husic says Australia has been short of a coordinated plan for the development and use of robotic automation.

    ‘Inflection point in history’: Government unveils robotics plan

    Science and Industry Minister Ed Husic has a plan for Australia to use and export more AI-infused robots to boost national productivity and industry.

    • Paul Smith
    Science and Industry Minister Ed Husic said slide in national R&D investment was intolerable.

    ‘Business spends bugger all’: what landmark R&D review aims to fix

    Technology industry experts warn a new government review into the R&D system must not cut tax incentives, and must kick-start anaemic business investment. 

    • Paul Smith, Tess Bennett and Nick Bonyhady
    Rebates are expected to increase by $2.6 billion over five years.

    R&D tax incentive to blow out by $2.6b

    Tax breaks for companies and superannuation payments for veterans and public servants have overshot expectations, adding billions in costs to the budget.

    • Joanna Mather
    George Peppou of Vow

    R&D boost needed for Future Made in Australia plan to fly

    Australian firms that develop innovative technologies say they are disincentivised to build their products in Australia and are calling for R&D incentive changes.

    • Tess Bennett
    PsiQuantum’s Jeremy O’Brien (left) and Terry Rudolph in Brisbane.

    UK’s bet on PsiQuantum is one-fiftieth the size of Australia’s

    Leading British quantum computing specialists have expressed surprise at the Albanese government’s decision to invest nearly $1 billion in backing the start-up.

    • Hans van Leeuwen
    PsiQuantum’s co-founders Jeremy O’Brien and Terry Rudolph are confident they will win bipartisan support in Australia.

    PsiQuantum in talks for bipartisan support but Coalition not swayed

    PsiQuantum is confident of winning over sceptical politicians by highlighting its backing from both major parties in the US, where it has defence contracts.

    • Tess Bennett
    Science and Industry Minister Ed Husic has been frustrated by suggestions the decision-making process behind the big quantum investment was not thorough.

    Answers emerge slowly to government’s $1b quantum questions

    Questions are mounting over how PsiQuantum was backed when we have been told so often to marvel at local tech stars.

    • Paul Smith

    April

    ‘Country mile ahead’: How PsiQuantum won a $1b investment

    Chief scientist Cathy Foley said US-based PsiQuantum showed it was a “country mile” ahead of other Aussie companies in trying to build a world-first quantum computer.

    • Paul Smith, John Davidson and Tess Bennett
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    A selfie taken by NASA’s Perseverance Rover on Mars shows two holes it drilled to take rock samples.

    Rio turns to Mars exploration tech in search for next big discovery

    Rio Tinto has not disclosed a major mineral discovery since finding a copper-gold deposit in WA in late 2017, but is hoping to turn that around using technology from NASA.

    • Brad Thompson
    Together with Lululemon, Australian start-up Samsara Eco has created a jacket made of recycled textiles that can be recycled itself infinite number of times.

    This Aussie start-up could change fashion forever

    Samsara Eco has patented technology that can break down fabric into new yarn, which can be recycled infinitely. Its CEO thinks it could upend the industry.

    • Lauren Sams

    March

    ‘It’s a lot cheaper than buying a Tesla’: low-carbon milk has arrived

    Dairy producer links up with Tasmanian start-up to produce the world’s first low-emissions milk.

    • Gus McCubbing
    Main Sequence managing partner Bill Bartee, is making long-term bets on science-based start-ups.

    CSIRO backs its long-term VC bet despite nil returns

    The CSIRO’s VC fund has not returned a dollar to public coffers despite receiving $175m from taxpayers over seven years, but insists it is on track.

    • Nick Bonyhady
    OncoRes CEO Katharine Giles in the company’s Perth HQ.

    ‘More than mining’: WA med-tech sector message to local investors

    WA medical ventures no longer limited to interstate or overseas investors for viability, says OncoRes breast cancer tech innovator Katherine Giles.

    • Tom Rabe