The WA Government will be offering $16.7 million in grants towards startups, while $19 million will go towards STEM skills, according to the State Budget.
The South Australian government has allocated $60 million over four years to its Investment Attraction Agency (IASA) in its 2017-18 Budget.
Thanks in part to the government’s sale of public assets, NSW Treasurer Dominic Perrottet has delivered a surplus of $4.5 billion in his first state Budget, along with a strong focus on regional investment.
The New Zealand Government announced an increase of NZ$373 million in funding for science and innovation in its 2017 Budget yesterday.
I am wary of the obsession in the startup ecosystem of needing to use certain buzzwords in order to feel validated by Australian society and our Government.
Though innovation may not have been a big part of Morrison’s speech, there are hints buried in the budget papers that maybe something is in the pipeline.
Sydney startup Carrott has developed an active cash management app which focuses on educating users about how to make the most of their bank account funds.
The Queensland Government has announced it is ramping up funding for its Advance Queensland innovation and jobs plan from $180 million to $405 million in today’s budget, “accelerating” the initiative and turning it into a “whole-of-government innovation agenda.”
The Western Australian government has set aside $20 million for an innovation package in its state budget, delivered by Treasurer Mike Nahan yesterday.
Today the Senate has passed a new tax incentives for early stage investors and a scheme to improve access to capital for VCs. These two initiatives are designed to make investment for Australian startups more attractive and were measures first announced in December last year as part of the Government’s National Innovation and Science Agenda (NISA).
In the 2016 budget the Government introduced the new Youth Jobs PaTH Programme (which stands for Prepare, Trial, Hire) and states that the Government will invest $752 million into helping young job seekers move off welfare and into employment.
As far as the startup landscape goes, the fintech sector has emerged as the real winner of Treasurer Scott Morrison’s 2016 Budget. A key focus has been made on supporting innovative ideas to ensure Australia is a leading destination for fintech companies and global disruptors.
Five months after Malcolm Turnbull urged Australia to shift the economy’s focus from the resources sector to innovation with the launch of the National Innovation and Science Agenda (NISA), Treasurer Scott Morrison delivered a budget focused on jobs and growth.
While there are many issues that concern Australian startups that were addressed in Opposition Leader, Bill Shorten’s budget reply, perhaps the most important was his call for increased investment in STEM (Science and Technology, Engineering and Mathematics) education, including software development.
Due to the failure of last year’s budget, and strong expressions of public disapproval, the Australian government has smartly chosen to revise its plans. Treasurer Joe Hockey took to the podium yesterday to deliver the details of the new budget, which focuses on small businesses, a welcome change.