Developments in the Australian startup scene.

1. Record Funding Raised by Australian Startups According to a report by KPMG, Australian startups raised a record-breaking $2.3 billion in funding in the first half of 2021. This represents a 29% increase compared to the same period in 2020. The majority of this funding has gone towards fintech and healthcare startups.

2. Tech Giants Continue to Invest in Australia Big tech companies such as Amazon, Microsoft, and Google have continued to invest in the Australian startup scene. For example, Amazon Web Services (AWS) recently launched a new program in Australia to support startups in the healthtech sector. Microsoft has also announced plans to establish its first datacenter region in Australia, which will create new opportunities for startups in the tech sector.

3. Increasing Focus on Sustainability Sustainability has become a major focus for Australian startups. Many startups are developing innovative solutions to tackle environmental issues, such as climate change and waste management. For example, start-ups like Zero Co and Good-Edi are developing products that are zero-waste, plastic-free, and environmentally friendly. Additionally, sustainability-focused venture capital firms such as Blackbird Ventures and Giant Leap have emerged in the country.

4. Government Support for Startups The Australian government has continued to support startups with various initiatives and funding programs. In August 2021, the government announced a $15 million fund to support cybersecurity startups, which will help to boost the country's cybersecurity capabilities. The government has also launched the Entrepreneurs' Programme, which provides funding and support to startups and small businesses.

5. Increase in Startup Accelerator Programs Startup accelerator programs have become increasingly popular in Australia, with many programs providing funding, mentoring, and other resources to startups. For example, Startmate, an Australian startup accelerator program, recently raised $15 million to expand its operations. Other notable startup accelerator programs in Australia include BlueChilli, SparkLabs, and Stone and Chalk.

The Australian startup scene continues to grow and attract investment from both local and international investors. With a strong focus on sustainability and support from the government and established tech companies, the future looks bright for Australian startups.

References:

• KPMG. (2021). Australian startups raise record-breaking $2.3bn in H1 2021. Retrieved from https://home.kpmg/au/en/home/media/press-releases/2021/08/australian-startups-raise-record-breaking-2-3bn-in-h1-2021.html
• The Sydney Morning Herald. (2021). Big tech is looking for the next big thing in Australia. Retrieved from https://www.smh.com.au/business/small-business/big-tech-is-looking-for-the-next-big-thing-in-australia-20210715-p589vt.html
• Startup Daily. (2021). Zero Co raises $5 million in pre-Series A funding to expand sustainable household product range. Retrieved from https://www.startupdaily.net/2021/08/zero-co-raises-5-million-in-pre-series-a-funding-to-expand-sustainable-household-product-range/
• SmartCompany. (2021). Sydney-based Startmate raises $15 million to expand startup accelerator program. Retrieved from https://www.smartcompany.com.au/startupsmart/news/sydney-based-startmate-raises-15-million-expand-start