News Pulse for November 15, 2016

A daily download of SME, startup, fintech and tax news from around Australia.

Global Workforce Becoming More Mobile 

Strategy Analytics’ latest report, Global Mobile Workforce Forecast Update 2016-2022 , reveals as many as 42.5 per cent of the total global workforce – 1.87 billion people – will be mobile employees by 2022.

The findings show globalisation and continued advancements in mobile technology and applications, will continue to increase levels of mobility among executives, consultants, sales and field professionals, and other mobile professionals in all regions.

An Australian startup that unleashes hackers onto customers just won big in Hong Kong

An Australian “ethical hacking” cybersecurity startup has just scored a major win in Asia.

Brisbane’s Entersoft was the only Australian company among eight selected in Hong Kong last Monday to be admitted to the SuperCharger FinTech 2.0 accelerator. The startup will enter the 12-week program early in the new year.

Australian start-ups bag $7.6 million in federal commercialisation grants

A start-up that is developing laser eyes to help driverless cars see better, an eBay-style online marketplace that allows customers to donate their sales to charities and an online service to help sports fans find local games while travelling are among 22 recipients of $7.6 million in fresh funding from the federal government’s Entrepreneurs Programme.

The funding will come as the latest round of Accelerating Commercialisation grants, which are an ongoing AusIndustry managed programme, that formed part of the Turnbull government’s industry policy outlined in the National Innovation and Science Agenda at the end of 2015.

Slingshot launches into HR

Corporate start-up accelerator Slingshot has announced what it says is Australia’s first HR-tech accelerator. Human Capital, a 12-week program, is designed to help corporates work with start-ups to tackle issues such as talent acquisition and employee health and wellbeing.

Greg Hunt says Australian innovation has to be about more than start-ups and tech companies

There is absolutely no doubt that the global economy is more competitive than ever, and for Australia to remain productive and prosperous it is vital for business to continue to change and evolve.

But when we talk about “innovation”, what exactly do we mean?

Aon partners with York Butter Factory in search of fintech start-up opportunities

Aon Australia chief executive Lambros Lambrou said the company intends to tap into YBF’s ecosystem of entrepreneurs.

“This partnership provides Aon with a unique opportunity to explore new opportunities with the insurance and tech markets in mind. We hope this partnership will encourage collaboration between the fintech start-up industry and Aon,” he said.

Fintech, insurtech and Asian institutions – a match made in heaven?

A game designer, hipster and digital nomad meet in a boardroom. No – this is not a joke. Insurers are increasingly bringing customer experience focused talent from startups and major tech giants in to work in their newly established digital and innovation functions. In essence, they are building pockets of inspiration into a heritage structure. It’s a two way street – many insurtechs are founded by industry veterans that have left their safe, well-paying jobs and are looking to introduce a breath of fresh air into the industry.

Facebook used to catch tax cheats

Social media posts, private school records and immigration data are being used by the Australian ­Taxation Office as part of an ­increasingly sophisticated crackdown on tax cheats that yielded nearly $10 billon last year.

ATO Australian Taxation Office Commissioner Chris Jordan said the tax office had been investing in data collection analysis of social media platforms such as Facebook to find cases of people’s declared income not matching their lifestyles, and then pursuing recovery of the ­unpaid taxes.

Want tax breaks for your startup? Read this

One of the first startups to qualify for generous investor tax breaks as an ‘early stage innovation company’ has warned applicants to expect a barrage of questions from the regulator of the scheme.

Perth’s Epic Delivery was granted ‘early stage innovation company’ (ESIC) status by the Australian Tax Office  in October, entitling its future investors to an upfront 20 per cent non-refundable tax offset (capped at $200,000 per investor per year for ‘sophisticated investors’ and $50,000 for other investors), as well as a 10 year capital gains tax exemption for investments held at least 12 months.

The $6 billion-a-year problem

In the context of Australia’s $2.3 trillion superannuation savings pool, it can be all too easy to get blasé about billion dollar statistics. One big number that deserves a lot more attention than it gets is the estimated $6.2 billion of unpaid super that thousands of, mostly low-paid, workers miss out on each year.

A 2015 research report produced by Tria Partners for Cbus found that employers were failing to make at least $2.6 billion in super ‘guarantee’ payments a year.

Tips, comments or suggestions? Let me know in the comments, send me an email or tweet me @simeonduncan.


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