In recent years Australia’s startup sector has transformed from a space with little activity to a thriving innovation hub. From fintech, cleantech, EV technology innovations, to startup success stories with the likes of Canva and Linktree, Australian startups are continuing to garner international attention. But with so much growth and action, it can be difficult to keep up with all the latest news and startup trends. Fortunately, at Allied Legal we do this for you.
Australian design startup Canva has been announced as the world’s third best private cloud company in the annual Forbes 2021 Cloud 100 list. Canva follows renowned fintech startup Stripe, having previously been voted number one in 2019, and software startup Databricks. The Australian startup and design platform is just one of just three Australian startups to make the list, with Melbourne startups Airwallex ranking at 58 and Culture Amp featuring in at 99. Select the link to find out more.
A partnership between Global Victoria and Startupbootcamp sprouted the Victoria-India Virtual Trade Mission event, Melbourne’s first Victoria-India Smart Energy Exchange. The inbound immersion to Victoria for Indian startups took place virtually over two days in July 2020, with an outbound immersion program to Indian for Victorian energy startups in November 2020. Startupbootcamp led virtual trade mission celebrated the mutual partnership between energy conglomerates in the Asia Pacific and Victorian led startups through a series of trade, investment and policies and regulations geared programs. To learn more about how your startup can get involved, you can follow the link.
Startup Genome’s 2020 report, ranking the top startup ecosystems around the world, was indicated potential growth for Australia’s startup sector. The report analyses and compares the strength of the startup industry across 300 locations to determine who is leading the way in startup innovation. The ranking saw Silicon Valley, followed by New York and London, as the top global startup ecosystems. Australia proved itself as a world leader for innovation, with both Sydney and Melbourne placing in the top 40 startup ecosystems. Both Sydney and Melbourne ranked particularly well for ‘connectedness’ which measures the amount of community involvement and engagement with the ecosystems. With our strong talent and connectivity, we at Allied Legal anticipate that Australia’s major startup cities will evolve in the upcoming years. For our full review of the report, you can select the link.
The 2021 federal budget revealed encouraging opportunities and changes for Australian video game startups. One of the measures includes a 30% digital games tax offset. The $1.2 billion boost is part of the government’s Digital Economy Strategy, aimed at stimulating Australia’s digital economy and providing employment opportunities in response to COVID-19. The announcement comes after eight years of lobbying by Interactive Games and Entertainment Association (IGEA). The offset will take effect from July 1 2022, and is set to encourage the production and development of local games for overseas export. The change will make it cheaper to set up local studios, prompting investment in Australian startups. To find out whether your startup is eligible for the tax offset, you can select the link.
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At Allied Legal, we are your experts is all things ‘startup’. From consulting on the latest trends and forecasts to providing your business with legal advice. To find out more about how our startup lawyers can help you can contact us on 03 8691 3111 or send us an email at hello@alliedlegal.com.au.
Victoria's startup ecosystem has achieved a remarkable milestone, surpassing the $100 billion valuation mark, as revealed in a recent report by LaunchVic and Dealroom. This significant achievement marks a 21-fold increase since 2016, showcasing the dynamic growth and potential of the Victorian startup sector.
Digital health start-ups are rapidly gaining momentum in Australia, and for a good reason. In a world that's increasingly reliant on technology, digital health solutions have emerged as one of the fastest-growing sectors in the healthcare industry.
Start up lawyers, such as Allied Legal, are well placed to guide AgTech companies through the intricacies of legal frameworks, ensuring that the integration of robotics, data analytics, and sustainable practices aligns with current laws and regulations.
Victoria's startup scene is thriving, doubling its valuation to $91 billion in 2023 despite the pandemic. The workforce has surged by nearly 50%, reaching 52,000 positions in 2022. Notable players like Airwallex and Afterpay contribute to this growth. Global comparisons, like with Singapore, indicate the potential for a significant economic impact, with a forecasted $6.9 billion addition by 2042.
Melbourne's thriving startup ecosystem testifies to the city's innovative drive and entrepreneurial spirit, especially within the AgTech sector. As this industry emerges further, the intersection of legal expertise and AgTech innovation becomes pivotal in shaping this sector in Australia.
The Australian fintech sector has traversed a challenging path over the past year, as depicted in the recent KPMG Australian Fintech Survey Report 2023.
The Treasury’s recent proposal to regulate the digital asset space by leveraging the existing Australia’s financial services laws raises both opportunities and challenges in the startup space.
The Victorian Government recently kickstarted the next round of the Victorian Medical Research Acceleration Fund (VMRAF).
Greenwashing refers to a business’ false claim or representation on their sustainable and eco-friendly products for profit
This year’s Global Startup Ecosystem Report has unveiled a growing number of startup trends that are predicted to spill over into the upcoming years
A huge part of running a successful startup is continuously looking for ways to improve. The iceberg theory, primarily referred to as ‘User Feedback Theory’ or ‘The Customer Complaint Iceberg’ in the sales and marketing arena, encourages just that
Boab is a Melbourne-based scaleup investment program investing in artificial intelligence (AI) scaleups in Victoria and around the world. Named after the ‘boab’ or tree of life
Based on global data by Realindex, female representation in senior management results in higher profit margins and improved startup performance
Accelerator or pre-accelerator programs can be great for early-stage startups and founders looking to develop their offering, form new connections and refine their business model.
Allied Legal is on a strong path to growth this year and we are pleased to welcome Christine Bulos as part of this.
Cake Equity is an equity management platform that streamlines typically laborious processes from capital raises to the admin side of finances.
In Australia, the food and beverage industry accounts for 32% of the country’s manufacturing turnover, making it the largest manufacturing sector in Australia
Coworking spaces foster cross industry learning and partnership, and also combines the benefits of a large corporate firm, with all its’ amenities, resources, and services at a reduced price point
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