Oz Startup News – Tuesday 4 December 2018


Paul Little among big names in new start-up fund Skalata Ventures

Former Toll Holdings managing director and Rich List billionaire Paul Little is the biggest name among a group of leading business figures banding together to form a new start-up funding and development program designed to help bridge the gap between accelerator programs and venture capital funding rounds.
Led by former Melbourne Accelerator Program (MAP) director Rohan Workman, Skalata Ventures will provide 60 start-ups over three years with up to $250,000 in funding, as well as a “bespoke” six month program.
By Yolanda Redrup from The Australian Financial Review
(Google Link)

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Airtasker hit by R&D incentive tax crackdown that threatens tech firms

Leading Australian tech start-ups, including high-profile online jobs marketplace Airtasker, have been hit by shock demands to pay back millions of dollars in Research and Development incentives, leading to fears the emerging local software sector could tank without reform to the scheme.
Start-up founders, top investors and industry leaders spoken to by The Australian Financial Review said qualification measures for the crucial industry support measure were now being applied in such a strict and inappropriate fashion by the Department of Industry, Innovation and Science, that it was all but impossible for software companies to qualify.


By The Australian Financial Review
(Google Link)

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Are we too late for an accelerator?


Alan Jones writes: “I’ve been meeting new founders in recent weeks, answering their questions about the SYD6 intake of muru-D and accelerators in general. Founders have often asked, “but we’ve already taken investment, aren’t we too late-stage for an accelerator?” “

Alan goes on to outline why that isn’t the scale and provides a framework for determining whether your startup is suitable for an accelerator.

By Alan Jones

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Everything you need to know about Lime, Australia’s newest bike-sharing operator


US company Lime has disregarded the failures of oBike, ReddyGo and ofo in Australia, and launched its bike-sharing service in Brisbane and Sydney.
The company believes its Aussie venture will find similar success to that which they already found in the US and Europe.

Here’s everything you need to know about Lime Bikes.
By Jacke Delaney from Techly

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Tech skills start-up Academy Xi raises fresh capital to expand to Singapore

Tech-focused Australian education provider Academy Xi will expand into Singapore following a $3 million capital raise from impact investors including Giant Leap Fund.
The business, which was co-founded in 2016 by former General Assembly admissions manager Ben Wong and UX design instructor Charbel Zeaiter, has trained more than 3400 people in paid full-time, part-time and corporate training courses in 18 months as well as 30,000 people in free or low-cost programs.

By Yolanda Redrup from The Australian Financial Review
(Google Link)

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Aussie Dad creates start up just for fun

It’s the lead up to Christmas. The festive decorations are already up, the shop windows are dressed and it seems that wherever you go, Jingle Bells is playing…relentlessly. And it’s sending shivers down your spine.
Months of school holidays are looming – and you haven’t planned a thing.Like many parents, Melbourne Dad Chris Gillard, Founder and CEO (#ChiefExcitementOfficer) of FunSearch.com.au was frustrated by the never-ending task of searching for fun places to go and stay, and things to do with kids on holidays and weekends.

That’s why he launched FunSearch… Here’s his story so far….

By Startup Soda News

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Innovation as better cooperation

It seems Australia’s experiment at being a world leader at ‘innovation’ is over, with the abrupt departure of its champion, Malcolm Turnbull.
The then prime minister made headlines with his 2015 Innovation Statement, which sought to move the Australian economy beyond dependence on natural resource extraction into an “ideas boom”.
But his replacement with Prime Minister Scott Morrison three months ago has seen innovation disappear off the government’s radar.

By InnovationAus

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Australia’s alternative finance market grew 88 percent in 2017: report

Australia’s alternative finance market grew 88 percent in 2017 to US$1.15 billion ($1.56 billion) to keep its place as the second largest market in Asia-Pacific behind China, a report has found.
The KPMG report, based on a survey of over 300 alternative finance companies, found balance sheet, or business, lending grew 164 percent to US$574 million in Australia in 2017, while peer-to-peer and marketplace consumer lending grew to US$256.67 million.

By Gina Baldassarre from Startup Daily

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Aussie app store for AI Unleash Live raises $4.75m

A Sydney start-up building an app store for artificial intelligence has been backed by two of the co-founders of Amaysim and by the Australian tech luminary Steve Killelea.
Unleash Live said it had closed its $3 million Series A funding round oversubscribed, having actually raised $4.75 million from the likes of Peter O’Connell and Rolf Hansen, two of the founders of telecommunications company Amaysim, and from venture capital fund Smarter Capital, run by philanthropist Mr Killelea.

By John Davidson from The Australian Financial Review
(Google Link)

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Inside a $111 million deal: How HR startup Deputy secured the biggest Aussie Series B raise of all time

Last week, Sydney-based startup Deputy bagged a whopping $111 million in a deal touted as Australia’s biggest Series B ever.
But what was it about this startup that attracted so much interest? And how did this founder win his investors’ hearts, minds and money

By Stephanie Palmer Derrien from Smart Company

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Chris Gillard


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