TechInSA Joe Thorp Chief Executive
Innovation & Tech Companies 2
Innovation activity accounts for 50% of economic growth in the OECD Innovation is crucial to maintain and improve Australia’s economic position 3
Australia’s Innovation is inward looking Ranked last of 35 OECD on economic complexity: Australian innovation improves efficiency doesn’t create new products for market Low proportion of large businesses innovating Ranked 23 out of 31 with 9% of businesses as new to market innovators. 4
Jobs growth – the old vs new economy Start Ups are 90% of net job creation 5
Startups create jobs 3% Job Creation 77% Startup Companies 77% of job creation in all start ups from 3% of Companies 6
New vs Old Economy – Tech Companies United States Year USbn Australia Year USbn 1. Apple 1976 690 1. BHP Billiton 1885 198 2. Google 1998 565 2. Commonwealth Bank 1911 108 3. Microsoft 1975 490 3. Westpac Banking 1817 83 4. Berkshire Hathaway 1955 402 4. ANZ 1835 65 5. Amazon.com 1994 386 5. National Australia Bank 1893 62 6. Facebook 2004 381 6. Telstra 1901 46 7. Exxon Mobil 1870 343 7. CSL 1916 39 8. JPMorgan Chase 1799 310 8. Westfarmers 1914 35 9. Johnson & Johnson 1886 309 9. Woolworths 1924 25 10. Wells Fargo 1852 283 10. Macquarie Group 1970 22
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Stages of Startup ecosystem development in a city Startup ScaleUp Exit City City City Many Startups, first Many fast growing startups, Serial entrepreneurs successes, fragmented international, connected, Exit money into new ecosystems founders team startups, mentoring 5 years 6-15 years 20 years Successful entrepreneurs reinvest money, networks and learnings into startups and the ecosystem
Start Up Eco-Systems 1. Large numbers of start-ups 2. Ample supply of entrepreneurs 3. Strong pro entrepreneurship & risk tolerant culture 4. High quality incubators & Accelerators with experienced leadership 5. Investors at all stages 6. Collaboration with large companies 7. Supportive regulatory environment 8. Universities actively exposing students to entrepreneurship as a career path 9. High quality advisors prepared to support 10. Intervention by governments to support gaps 10
Australian Venture Capital Scorecard on Venture Capital Ranks 18 th of 30 OECD as % GDP Ranks 20 th of 28 OECD for Early StageVC US Investment $59b in 4,500 companies Australia $347m in 93 companies Proportionally 13x lower 11 Australian Innovation System Report 2016, Office of the Chief Economist, Department of Industry, Innovation and Science
Turning Research outcomes into Business with economic development potential Governments Industry Relative Value in $ Private Foundation Capital/ VC Market-Entry R&…D Need to secure IP, $, infrastructure, expertise
Early Stage Capital Pre- Seed Angel Series A Series B Series C seed Product Idea MVP Prototype Scale across Expand market Scale fast and markets reach/ depth wide $ Invested $50K $500K $1M $1-15M $7-10M $1-100’sM • SAECF is a proxy for Pre-seed to Angel • SAGDF is a proxy in one vertical – Games • SAVCF is attracting more VC to Adelaide
$50M Early Stage $10M SA Early $2M SA Game $4M Space SA Venture Capital Fund Commercialisation Fund Development Fund Innovation Fund Innovation Attract venture capital to co- Seed funding, business Grow South Australia’s Space Incubator and invest with government in local capability building and digital game development Accelerator ventures with high growth entrepreneur development industry potential $7.1M Australian Tonsley Capability Game Plus $7.5M Future Industries Institute of Machine Manufacturing Hub Accelerator Development Learning Innovation Hub Adelaide CBD University of SA University of Adelaide Flinders University South Australian Assistance UniSA Australian Rapid TechInSA and Programs Centre Commercialisation High Tech Accelerator for Business Growth Initiative (SARCI) Growth $7.6M Adelaide GIG CITY Program First Gig City in Australia, Member Global Ignite Program Enabler Industry Largest defence procurement Global leader in renewables in Nation’s history. $90b Stimulus driving > $5b investment 14
High Tech Accelerator Vision TechInSA is South Australia’s high tech start-up support agency Purpose 1. TechInSA supports the development and scaling up of South Australian high-tech start-ups to commercialise new products and services for global markets 2. TechInSA has a leadership role in developing the South Australian start-up ecosystem Activity 1. Navigate & Connect 2. Advise, coach, mentor 3. Fund 4. Facilities 5. Promote
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Tech Supported by SAECF Agricultural/Food/Wine/Fishing Communication 2% Creative 16% 23% Construction Environmental Finance 5% Health 2% 5% Manufacturing 2% 5% Mining Other 7% 19% Space 7% Transport 7%
Entrepreneurial Education Accelerator/Incubator Early Stage Funding Investors Events Support Networks R&D & Industry Partners Hi-Tech & Connect CoWorking Space The South Australian Startup Ecosystem Compiled by for the Startup Community FEB 2018 18
SA Deal Flow 19
A lack of cash flow is the leading cause of business insolvency in Australia.* bzPay provides the solution by bringing together suppliers, buyers and financial institutions on a single platform: • Unlocking cash flow • Unshackling business • Unleashing growth potential * Australian Small Business and Family Enterprise Ombudsman Payment Times and Practices Inquiry, April 2017
Life Whisperer Artificial Intelligence to better select healthy embryos Improve outcomes for couples wanting to have children 21
A Backbone Computing Solution is developing a permanent ledger technology which provides more data security, and is more user-friendly and energy efficient than Blockchain.
Silentium Defence Silentium Defence provides next- generation situational awareness solutions built upon its game- changing passive radar technology .
The Nexus eCare platform provides an electronic bridge between service providers and patients through the delivery and monitoring of personalised care plans for chronic illnesses
Affordable remote machine-to- Myriota machine connectivity Highly scalable global service Access high value small data no matter where it is Connectivity solution in in the world remote areas where traditional communications infrastructure is too expensive. Agricultural Monitoring Asset Tracking 25
Inovor Nanosatellite hardware Designs and integrates small satellites manufacture Systems Engineering from needs identification to requirements development, verification and validation. SPACE SYSTEMS 26
Solar-powered Praxis Aeronautics unmanned drones with a flight duration of around 6 hours Solar cells as a structural element of the drone Light, robust and inexpensive Commercially viable for use in agri- business, geo-spatial public safety 27
Turbine Aeronautics <200hp turbine engines for niche aviation markets 28
JCT Jackson Care Technologies HOSPITALS AGED CARE AI to predict intervention need by monitoring client movement patterns 29
Safe Ag Systems Interactive desktop and mobile software Farm Safety Geo-Sensing Cloud-based, work health and safety management software for compliance with WHS legislation. 30
Sine Visitor & Contractor Registration System Pivot to API Backbone Identity management 31
Preserve Health Prep’D a n ovel sports hydration system Primes the body for optimal fluid A novel hydration system based absorption on medical research into Patented formulation of special dehydration at Flinders University resistant starch 32
Ailytic Make Intelligent Decisions about your manufacturing production future with powerful, smart and easy to use sensors, software and solutions. Primary targeted for Food & Beverage, Packaging and General Manufacturing Industries.
ODD Games Video game development studio which partners with leading mud and dirt motorsport brands to expand their customer base to millions of people globally through developing #1 ranking racing video games across multiple platforms.
Real Time Data Deckhand - electronic log book that can submit statutory catch and effort data automatically. Designed by fishermen, for fishermen
Ferronova’s disruptive magnetometer (probe) and iron-core nanoparticle (tracer) technology enables more accurate and cost- effective detection of cancers.
BYGEN Sustainable, transportable, cost effective solution for converting agricultural waste into high value functional materials including both biochar and activated carbon.
Corporates & Start Ups Ericsson Garage Challenge 38
Amsterdam Austin Berlin Birmingham Chattanooga Lisbon Stockholm Tallinn 39
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