Oz Startup News – Wednesday 5 December 2018


Singapore Airlines has bought into Australian tech startup Data Republic as part of a $22 million raise

Sydney-based tech startup Data Republic has raised $22 million in Series B funding, predominantly from Singapore-based investors as the business seeks to push into Asia.
The raise, led by Innov8 – Singtel’s corporate venture capital arm – also includes Singapore Airlines, VC fund Qualgro, an existing shareholder, with the ANZ, Reinventure and Ryder Capital also returning with more capital.
By Simon Thomsen from Business Insider

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‘What’s your right?’ Paul Bassat on winners in era of AI

Artificial intelligence businesses will soon have a “profound impact on society”, but Australian startups have to do plenty to prove themselves, says Square Peg Capital’s Paul Bassat.
The Seek co-founder addressed an audience including a large cohort of Chinese investors and businesspeople at the AllFin investment conference in Melbourne on Tuesday, predicting AI companies will generate the most radical changes for consumers of any business sector.


By Emma Koehn from The Sydney Morning Herald

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“Big shoes to fill”: Victorian startup industry reacts to new Innovation Minister


Labour’s landslide victory in the Victorian state elections last week saw a shake-up in Premier Daniel Andrews’ cabinet, including an historic 50/50 gender split, but also heralding the end of the tenure of Philip Dalidakis as Minister for small business and innovation.
Dalidakis was popular on the Victorian startup scene. His stepping down was widely lamented, with supporters tweeting with both disappointment and thanks for his work in cabinet.

By Stephanie Palmer-Derrien from Smart Company

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Creative marketplace 99designs reaches US$250 million in earnings paid out to designers

Melbourne online design marketplace 99designs will reach US$250 million ($340 million) in earnings paid out to designers at the end of the month, with US$50 million ($69 million) paid out in the last year alone.
The platform launched in 2008 with the design contest at the core of its model, allowing clients to put a brief out to the community, designers to submit their ideas, and clients to then pick their favourite design.
By Startup Daily

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Startup sanctuary: WA’s first blockchain centre opens in West Perth

Perth’s who’s who of blockchain were at the opening of the world’s ninth Blockchain centre in West Perth on Monday night.
The centre is a WA-first and will allow startups with products that revolve around blockchain technology to share resources and ideas with like-minded entrepreneurs.

By Hamish Hastie from The Sydney Morning Herald

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Queensland biotech startup Inflazome raises $63 million to change the way we treat Alzheimer’s

Biotech startup Inflazome has raised $63 million in funding to test and commercialise its molecules for slowing the progress of inflammatory diseases such as Alzheimer’s and Parkinson’s.

This funding round was led by life sciences venture capital firm Forbian, and also included investment from Longitude Capital, and repeat investment from Novartis and Fountain Healthcare Partners.

By Stephanie-Palmer Derrien from Smart Company

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Q-CTRL software hits the market

Australian quantum computing software startup Q-CTRL has launched its first product to the public, Black Opal. The software brings a friendly user interface to the quantum domain for the first time, delivered via a hardware-agnostic SaaS model.
Prof Biercuk explains that Q-CTRL is bringing the field of control engineering to the quantum industry in a way that research funding simply has not accounted for, which has created problems for pushing quantum computing forward.
By Seamus Byrne from InnovationAus

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Can I Turn Unused Office Space Into a Co-working Space?

Turning your unused office space into a co-working space is a practical way to earn income. Landlords having difficulty attracting tenants may see turning their space into a co-working space as a unique opportunity to draw in a different range of tenants.
Tenants, on the other hand, may also utilize this idea if they have rented out space too large for their business and have additional space to spare. This article explores how a landlord and tenant can turn unused office space into a co-working space.

By Legal Vision

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Don’t call me Uber: Why disability support startupHireup is ditching the gig economy model

Jordan O’Reilly’s online disability support provider has won national awards, saved clients millions, and is growing like crazy. But one thing he’s adamant it’s not is the ‘Uber of disability’.
This applies to being the ‘Tinder for disability support’ or any other comparison to global ‘gig economy’ pioneers too, with the founder lamenting the business community’s “limited vocabulary” when it comes to describing emerging business models.

Here’s why…
By Dominic Powell from Smart Company

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