A number of voices across the small business and start-up community have taken issue with the reviews process of the research and development tax incentive scheme in recent months.
The scheme, which allows businesses to claim a refund or offset for projects which build on new areas of knowledge, is self-assessing.
This means businesses put in their claims with documentation, but the onus falls on them to prove they qualify for the cash they receive.
Here’s more on why this is proving to be an issue….
By Emma Kohen from The Sydney Morning Herald
Google has given four Australian startups $1 million each to help them help people in need across the country.
Google Vice President and Google.org Global President Jacquelline Fuller announced the winners of the Impact Challenge yesterday. Here’s who they are and what they do
By Peter Farquhar from Business Insider
Google staff in Sydney joined their global counterparts by staging a mass walkout last week in protest of sexual misconduct.
Those gathered heard stories of misconduct. One speaker said: “This is a terrible part of our culture that’s here in Sydney, and part of the wider Sydney tech community.”
Phil Hayes-St Clair writes: “Assumptions are the basis for most startups. After identifying opportunities, founders use assumptions to begin piecing together a narrative to communicate their vision. And it’s just expected that each assumption in a startup’s business model will get tested and iterated over time.
The reality is, however, that there are assumptions that don’t get tested. Some of these are linchpin assumptions, ones that are critical to the business model that founders are selling to customers, investors and partners.
The punchline is that founder’s risk building a ‘house of cards’ by relying on untested assumptions.”
By Phil Hayes-St Clair
David Thomas the founder and president of the Australia China SME Association says that “Australian businesses are still living in the dark ages by failing to include WeChat in their marketing mix.”
David goes on to say that “Seven in ten businesses in Australia use at least one form of social media platform and yet only a small portion use Wechat.”
And highlights that “The Chinese account for a large component of retail spend in Australia. Our country enjoys strong tourism activity from China. Around 1.2 million Chinese tourists visit our shores every year and spend an average of $8,300 while they are here.”
By David Thomas in 61 Bit
Vincent Turner, Founder and Chief Innovation Officer, uno Home Loans writes that “In the last 20 years, I’ve been through more than 10 capital raisings with highlights including securing venture funding for my first business at age 19, bringing Westpac onboard as uno’s majority shareholder (securing more than $50 million) and several unsuccessful funding rounds. It’s left me with a pretty good understanding of the best way to raise capital.”
Here’s his advice….
By Vincent Turner in Dynamic Business
Melbourne education startup Maths Pathway, which has created an online learning system to help teachers better teach their students mathematics, has raised $2.1 million in a seed funding round led by Social Ventures Australia (SVA).
Founded in 2013 by Richard Wilson and Justin Matthys, Maths Pathway works to help teachers better connect with each student and their learning needs individually. Teachers are able to set students up with individualised lessons, with the platform then providing them with data and insights to in turn help them tailor their approach to different students.
By Gina Baldassarre from Startup Daily