As a relief to many, no adverse changes were proposed to the R&D Tax Incentive within the Federal Budget delivered by the government on May 9. The R&D Tax Incentive has played an important role in attracting investment to Australia, particularly in knowledge intensive industries. It has also provided small business valuable working capital in the early stages of their life cycle. The government is still yet to respond to the Ferris, Finkel & Fraser review which recommended potential adverse […]
Founded by Indigenous entrepreneurs Leigh Harris and Julie-Ann Lambourne, Digital Hive (DHIVE) aims to achieve social equality in the digital age. The innovation hub opened on May 3 and will enable Aboriginal and Torres Strait Islanders, refugees, recent migrants, people with disabilities or anyone with a social and digital disadvantage to participate in and contribute to the growth of the digital economy. “We must be more innovative in the way we ensure that the benefits of the new digital economy […]
There are more university graduates than ever and it turns out that they are driving Australia’s start-up economy. A project between Universities Australia and Startup Muster found that 84% of Australian start-up founders have degrees. Many universities have restructured their courses to provide the next generation of graduates with the knowledge and resources to found their own businesses. It is becoming increasingly common for students to take courses in entrepreneurship and then develop a start-up business in conjunction with a […]
The Australian biotech industry has concerns about an overhaul of the R&D tax incentive scheme, which could involve eligibility restrictions and cuts. The government has proposed capping R&D tax refunds at $2 million, which could be realised in this month’s federal budget. The uncertainty has already impacted the sector, with both Australian and international companies reconsidering doing clinical trials here. As Chris Nave, managing director of Brandon Capital Partners commented, “$2 million isn’t worth the cost of setting up an […]