InnovationAus.com

NRF Corporation racks up $8.7m bill before investing

Joseph Brookes — Thu, 01 Aug 2024 09:22:43 +0000

The independent entity steering the $15 billion National Reconstruction Fund has racked up $8.7 million in expenses before making a single investment, as it approaches a one-year anniversary with little to offer industry. The costs have been accruing for 11 months as the new corporation tries to sort through more than 300 applications to ensure...

The post NRF Corporation racks up $8.7m bill before investing appeared first on InnovationAus.com.

‘Premature’ 3G shutdown risks public safety, inquiry warns

Justin Hendry — Thu, 01 Aug 2024 09:18:38 +0000

Australia’s 3G network shutdown should not go ahead as planned later this month, with a Senate committee warning the dangers it poses to public safety are “too great to ignore”. The committee has called on Communications minister Michelle Rowland to “urgently” meet with Telstra and Optus to postpone the shutdown, which is slated to take...

The post ‘Premature’ 3G shutdown risks public safety, inquiry warns appeared first on InnovationAus.com.

Rehome growth centres to CSIRO: WA chief scientist

Brandon How — Thu, 01 Aug 2024 08:41:43 +0000

Australia’s Industry Growth Centres should be given a new lease of life within the CSIRO to uplift practical research outcomes in Australia, according to the longest sitting government chief scientist in Australia. Western Australia’s chief scientist Professor Peter Klinken, who has served in the role for more than a decade, believes the national science agency...

The post Rehome growth centres to CSIRO: WA chief scientist appeared first on InnovationAus.com.

FMiA plan risks industries ‘devoid of Australian invention’

Brandon How — Thu, 01 Aug 2024 08:20:15 +0000

Australia’s budding hydrogen industry will bypass local innovation for its supply chains if content requirements aren’t part of the government’s Future Made in Australia policy, green hydrogen startup Hysata is warning. The local electrolyser manufacturer is calling on the government to add additional incentives to its planned green hydrogen subsidies to spur the use of...

The post FMiA plan risks industries ‘devoid of Australian invention’ appeared first on InnovationAus.com.

SMEs secure $1.9m from Victorian manufacturing grants

Brandon How — Thu, 01 Aug 2024 07:48:14 +0000

Nine small to medium-sized manufacturers have secured $1.9 million in grants in the latest round of the Made in Victoria manufacturing growth program. The recipient businesses operate in a diverse range of sectors from food and beverage manufacturing to construction, packaging, and transport. While each dollar of the up to $250,000 grants needed to be...

The post SMEs secure $1.9m from Victorian manufacturing grants appeared first on InnovationAus.com.

DroneShield raises $120m to fund R&D

Justin Hendry — Thu, 01 Aug 2024 05:20:55 +0000

DroneShield has raised $120 million to fund R&D for new counterdrone devices and continue its push into new markets, positioning the Australian defence technology company for future growth. The company announced the completed share placement on Thursday, reporting “strong support” from new and existing institutional and sophisticated investors following a pullback in its share price....

The post DroneShield raises $120m to fund R&D appeared first on InnovationAus.com.

National Quantum Strategy ‘not authored’ by chief scientist

Justin Hendry — Wed, 31 Jul 2024 12:18:09 +0000

Australia’s chief scientist Dr Cathy Foley did not author the first-ever National Quantum Strategy, the Industry department has claimed, in an effort to keep the contents of an earlier draft of the strategy under wraps. The refusal to release the draft strategy in full comes as questions continue to be asked over when the federal...

The post National Quantum Strategy ‘not authored’ by chief scientist appeared first on InnovationAus.com.

PwC offshoot joins sprawling aged care tech work

Joseph Brookes — Wed, 31 Jul 2024 12:10:01 +0000

The federal offshoot of disgraced consultancy PwC will be paid almost $40,000 a day for the next 15 months to assist with the Health and Aged Care department’s technology uplift, as a government mandate to start insourcing more work gets going. Scyne Advisory this month picked up its biggest federal contract since the PwC tax...

The post PwC offshoot joins sprawling aged care tech work appeared first on InnovationAus.com.

Australia locks into Landsat with $449m

Joseph Brookes — Wed, 31 Jul 2024 09:54:22 +0000

Australia will revamp a 45-year-old Alice Springs ground station and hire dozens of staff to support it over at least 15 years to ensure continued access to Earth observation data, after the government abandoned an ambitious plan to build and launch its own satellites. New information released by Geoscience Australia details its $449 million allocation...

The post Australia locks into Landsat with $449m appeared first on InnovationAus.com.

Creating ‘pockets of value’ in the age of GenAI

Justin Hendry — Wed, 31 Jul 2024 09:50:48 +0000

Forward-looking business strategies have become more crucial than ever. The year 2023 witnessed a significant breakthrough of generative AI revolution, with the technology truly hitting the mainstream. Following the success of large language models like ChatGPT, businesses of all scales, across a range of industries are looking to experiment similar technologies for potential applications...

The post Creating ‘pockets of value’ in the age of GenAI appeared first on InnovationAus.com.