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1、Australian Digital Innovation on the Rise1AUSTRALIAN DIGITAL INNOVATION ON THE RISEOpportunities in the startup,venture capital and technology sectorCONTENTSDigital innovation on the rise in Australia 3Globally recognised innovation 4Immerse yourself in Australias innovation ecosystem 6Australian ve
2、nture capital drives growth 8About the Australian Trade and Investment Commission 11About The Australian Investment Council 12DisclaimerThis report has been prepared by the Commonwealth of Australia represented by the Australian Trade and Investment Commission(Austrade)and the Australian Investment
3、Council.The report is a general overview and is not intended to provide exhaustive coverage of the topic.The information is made available on the understanding that the Commonwealth of Australia and Australian Investment Council are not providing professional advice.While care has been taken to ensu
4、re the information in this report is accurate,the Commonwealth and the Australian Investment Council do not accept any liability for any loss arising from reliance on the information,or from any error or omission,in the report.Any person relying on this information does so at their own risk.The Comm
5、onwealth and the Australian Investment Council recommend the person exercise their own skill and care,including obtaining professional advice,in relation to their use of the information for their purposes.The Commonwealth and the Australian Investment Council do not endorse any company or activity r
6、eferred to in the report,and do not accept responsibility for any losses suffered in connection with any company or its activities.2Australian Digital Innovation on the RiseDIGITAL INNOVATION ON THE RISE IN AUSTRALIAAustralias technology ecosystem is experiencing rapid growth and is undergoing an ex
7、citing period of expansion and innovation.The digital technologies sector contributes around A$122 billion(6.6 per cent of GDP)to the Australian economy each year.This figure is expected to grow 40 per cent between 2018 and 2023.1 Australias exports of virtual goods and physical products enabled by
8、digital technologies were worth A$6 billion in 2017,with that figure likely to grow to A$19 billion by 2030.2 Increasingly,both Australian and international entrepreneurs are utilising the stability of the Australian market as an advanced technology test bed and launch market before they take new id
9、eas or products global.The expansion of the technology sector is supported by a growing venture capital(VC)and private equity(PE)ecosystem,presenting many opportunities for international startups and VC firms.A land of innovatorsAustralia is ranked 5th in the world for entrepreneurship.3 Australian
10、technology companies which have become global names include Atlassian,Canva and Afterpay.Early adopters and avid users of technologyAustralia is ranked equal first for technological readiness alongside Singapore and Sweden.4 Skilled and diverse talent poolAustralia has seven universities in the top
11、100 the third highest number globally.5 Around 44%of the Australian workforce has a tertiary qualification.6 Springboard to AsiaInternational companies can tap into Australias deep business and cultural ties with Asia to expand into or enter global value chains across the region.Twelve of Australias
12、 15 largest export markets in 201819 were in Asia and Oceania.7 A magnet for international companiesAustralia hosts established companies such as Adobe,Cisco,Dimension Data,Google and IBM,while emerging unicorns such as Dataiku,Snowflake and Eventbrite are rapidly growing their Australian teams.The
13、birthplace of globally successful startupsStartup Muster 8 estimates the number of startups in Australia increased by 53%between 2015 and 2018.9 In April 2020,SafetyCulture became Australias latest unicorn following an A$60.5 million capital raise led by Sydneys TDM Growth Partners.10 Access to vent
14、ure capitalVC funds raised a total of A$632 million for investment in Australia in 2019,which represents the second-highest annual total in the past decade.113Australian Digital Innovation on the RiseGLOBALLY RECOGNISED INNOVATIONAustralian innovators and entrepreneurs are attracting global attentio
15、n,particularly in fields where there are strong synergies with Australias traditional industries.These include agtech,medtech,fintech,cyber security,mining and resources technologies,and digital technologies.Fintech and regtechSeven Australian fintech companies were ranked among the worlds best in t
16、he 2019 Fintech 100 report.12 Airwallex,Judo Bank and Afterpay Touch were ranked in the top 50 fintech companies.Australias emerging fintech companies include disaster response provider Sempo and smart receipts app Slyp.In regtech,Sydney-based scaleup Daisee offers an artificial intelligence-driven
17、solution for the healthcare,financial and insurance sectors in Australia and the USA.The solution listens to all customer conversations and automatically evaluates regulatory and brand compliance based on the businesss needs and priorities.It then creates a dynamic workflow for addressing training n
18、eeds and team effectiveness.AgtechAustralia is aiming to boost its agricultural output from A$60.8 billion currently to A$100 billion by 2030.The Australian agricultural sector is one of the least subsidised in the world,so it has a long history of developing technologies to respond to challenging p
19、hysical environments.The most successful Australian innovations are often those developed by producers themselves.Australian agtech startup FluroSat developed an agriculture analytics engine to help farmers and their advisors grow better crops and grow them more efficiently.The platform uses state-o
20、f-the-art crop models,combined with remote sensing imagery and local weather data,to estimate crop performance and areas of crop stress in season and suggest precision fixes to improve the growers triple bottom line.FluroSat has received VC backing from Microsoft M12,AirTree Ventures and CSIROs Main
21、 Sequence Ventures Fund.The founders of AgriDigital drew on their extensive knowledge as farmers and grain industry participants to build a digital supply chain platform.The platform enables farmers,buyers and storage operators to sell,trade and store commodities,make payments and access commodity-b
22、acked finance in one place and in real time.4Australian Digital Innovation on the RiseArtificial intelligenceHIVERY is pioneering hyper-local retailing.It combines artificial intelligence,operations research and human-centred design to help consumer goods companies and retailers generate a return on
23、 physical space investments,such as shelf space at Walmart stores in the US.Its solutions use technology that originated in CSIROs Data61 laboratories.Today the company services a global customer base,with offices in Australia,Japan and the US.HIVERY was the NSW Exporter of the Year(Technology)and a
24、 National Export Finalist in 2019.HIVERY was also named in Deloitte Technologys Australian Fast 50 2019 and Financial Timess Asia-Pacific High Growth Companies 2020,and ranked ninth in the Australian Financial Reviews Fast 100 2020.MetaFuro is growing fast from its base in the Gold Coast region of Q
25、ueensland.MetaFuro helps brands optimise their supply chain by taking a product idea and turning it into a successful,sustainable product using its single software solution.MetaFuro is working with Chinese partners,as well as Australian and US brands like Breeze Balm and Ritology,to help them develo
26、p and manufacture consumer products that customers love.After raising seed funding in Australia,founder Ryan Mets says that“Australia and regional centres like the Gold Coast are hubs of entrepreneurship,with talent attracted by lifestyle and community connections”.Future cities and transportBaraja
27、developed a 3D machine vision system for connected and automated vehicles using Light Detection and Ranging(LiDAR)technology.LiDAR technology is crucial for autonomous vehicles to see the road and surroundings so they can respond appropriately and avoid collisions.Baraja employs more than 100 people
28、 and is based out of the Australian Governments high-technology CSIRO facility in Sydney.The company has attracted investment from Blackbird Ventures,Main Sequence Ventures and Sequoia Capital in China.Cyber securityAiculus offers an artificial intelligence-driven security solution that autonomously
29、 builds behavioural profiles of safe API activity.This does away with lengthy rules and setups,or the need to continuously update attack signatures.Digital health and medtechWorld-leading digital health innovations have been developed in Australias growing digital health ecosystem.SmileyScope have c
30、reated VR experiences to calm children undergoing needle procedures whilst TaliHealth have created a digital platform to treat attention deficits in early childhood.Stentrode have created a world-first,minimally invasive brain machine interface,with the potential to return movement and independence
31、to the millions of people worldwide with paralysis.With over 30 health incubators and accelerators across the country,digital health and medtech continues to grow at a rapid pace.5Australian Digital Innovation on the RiseIMMERSE YOURSELF IN AUSTRALIAS INNOVATION ECOSYSTEMAustralia has a thriving inn
32、ovation ecosystem that welcomes international investors,partners and collaborators.Several of the worlds leading technology companies have operations in Australia,drawn to the countrys resilient economy,highly-educated digitally-literate workforce,and proximity to emerging markets across Asia.Many h
33、igh-growth foreign companies have established themselves in innovation hubs in major Australian cities to tap into the local technology community.New York-based AI specialist,Dataiku,recently announced it is expanding in the Asia-Pacific region with a major new office in Sydney.The company will be h
34、iring dozens of local employees,from customer-facing staff to data scientists.The cost of office space in Australia is low relative to major business centres internationally,while Australian cities consistently achieve top rankings for their quality of life.Increasingly,co-working options and accele
35、rators are also opening in regional centres.Darwin Innovation HubThe Precinct in BrisbaneLot Fourteen AdelaideVictorian Innovation HubSydney Startup HubNSW Tech Central Precinct6Australian Digital Innovation on the RiseGrow your tech business in AustraliaUtah-based technology skills platform Plurals
36、ight plans to more than double its existing team in Australia over the next three years,hiring over 50 new team members across a variety of roles,including sales,customer support,marketing and operations.“Pluralsights expansion throughout Australia and New Zealand supports the tremendous technology
37、boom we are seeing in the region,”said Mike Featherstone,Managing Director of ANZ/APAC for Pluralsight.“Technology is constantly evolving and companies are seeking solutions to help their teams keep up with the rapid pace of technology.We are thrilled to have a highly talented local team that can as
38、sist ANZ organisations who want to support the technology skill development of their teams to support their technology strategies.”US-India based Fractal Analytics is gaining increasing traction in Australia,providing transformative analytics and AI solutions to Australias banking and financial serv
39、ices,insurance,telco and consumer goods industries.“Australias long-term economic stability,English-speaking market,and good talent were key factors in deciding to set up presence,”said Rohit Joshi,ANZ Head and Vice President.“Eighteen months after opening its Sydney office in 2018,Fractal Australia
40、 is contributing to expectation to the companys global revenue and works with some of the industry leaders in the local market.”US tech giants including Adobe,Amazon,Google and Microsoft all have a large Australian presence.Microsofts ScaleUp Program and Amazons Launchpad engage with the local ecosy
41、stem,while global multinationals like Hitachi and Boeing conduct cutting-edge R&D with Australian universities,leveraging research talent and government support.7Australian Digital Innovation on the RiseAUSTRALIAN VENTURE CAPITAL DRIVES GROWTHThe rapid growth of technology startups in Australia has
42、attracted an increasing amount of funding from the Australian VC ecosystem.The Australian Investment Council reports that in 2019 the total value of Australian-focused VC deals was A$2.2 billion,taking the sectors assets under management to A$8 billion.13 Meanwhile,VC funds raised a total of A$632 m
43、illion for investment in Australia which represents the second-highest annual total in the past decade.The IT sector continued to dominate in terms of aggregate venture capital deal value(51%)and number of transactions(59%).Unsurprisingly,since 2017,the annual aggregate value of agtech deals has inc
44、reased more than sevenfold from just A$8.3 million to A$60 million in 2019.Venture Capital Deals in Australia 2010-2019In 205020.20.20.20.50.80.71.12.42.20.5520001720182019No.of DealsNo.of DealsAggregate Deal Value($bn)Aggregate Deal
45、Value($bn)3.02.52.01.51.00.50.0Source:Preqin&Australian Investment Council Yearbook 2020$2.2bn$8bn977$632mnaggregate value of VC dealsVC assets under managementVC deals completed by Australian startups since 2010total raised by VC funds 8Australian Digital Innovation on the RiseThe Australian Govern
46、ment has also played a key role in the development of the technology industry.Industry growth centres,which build capability and collaborative networks,have been established in strategic priority areas with Australian Government funding.These include cyber security,medical technologies and pharmaceu
47、ticals,food and agribusiness,advanced manufacturing,mining equipment,technology and services,and oil,gas and energy resources.Investment into the Information Communications and Technology sector is further supported by the Australian Department of Defence which aims to deploy A$20 billion in ICT com
48、panies over 10 years to 2026.15Venture Capital Deals in Australia by Industry %80%60%40%20%0%2000019Business ServicesHealthcareConsumer DiscretionaryInformation TechnologyFinancial&Insurance ServicesOtherSource:Preqin&Australian Investment Council Yearboo
49、k 2020No.of DealsAggregate Deal Value9Australian Digital Innovation on the RiseOther funding sourcesCorporate venture firms,angel investors and accelerator programs also support the Australian technology ecosystem.R&D tax incentiveThe Australian Governments R&D Tax Incentive reduces the cost and ris
50、k of undertaking R&D activities for international organisations.Available to companies for eligible expenditure on R&D,the benefit varies depending on the turnover of the business.It ranges from a non-refundable 38.5 per cent tax off-set for large business,to a 43.5 per cent refundable tax off-set f
51、or small-to-medium business(aggregate turnover less than A$20 million).Industry-specific funding The A$500 million Biomedical Translation Fund(BTF)consists of equal parts government and business funding.The BTF is operated by three private sector fund managers who select promising Australian biomedi
52、cal ideas to support.The BTF targets companies with the majority of their employees and assets in Australia and an average annual revenue of less than A$25 million per year over the previous two years.Other significant medtech-focused funds include the Medical Research Future Fund(MRFF).Accelerators
53、 and incubatorsAustralian and international startups can benefit from Australias accelerators and incubators.Sydney-based Cicada Innovations was named the Top Incubator in the World in 2018 in a field of more than 2,200 competitors worldwide.16 There are over 90 accelerators and incubators in Austra
54、lias startup ecosystem.17 These nurture and promote both local and international talent to gain traction in Australia,with some specialising in industry sectors.University-affiliated incubator and accelerator programs are also finding rapid success.The New Ventures Institute at Flinders University w
55、as named the best university incubator in the Asia-Pacific region in 2018.18 Industry growth centresAustCyber is a not-for-profit organisation dedicated to growing the Australian cyber security ecosystem,exporting Australias cyber security to the world,and making Australia the leading centre for cyb
56、er education.AustCyber and the Australian Trade and Investment Commission closely collaborate,bringing together the commissions extensive reach into global markets and AustCybers sector insights and expertise.Other federally-funded growth centres are Food Innovation Australia Limited(FIAL),Advanced
57、Manufacturing Growth Centre(AMGC),METS Ignited,MTPConnect,and National Energy Resources Australia(NERA).Each focuses on increasing industry collaboration and commercialisation,improving international opportunities and market access,enhancing management and workforce skills,and identifying opportunit
58、ies for regulatory reform.10Australian Digital Innovation on the RiseABOUT THE AUSTRALIAN TRADE AND INVESTMENT COMMISSIONThe Australian Trade and Investment Commission(Austrade)is Australias leading trade and investment agency.We have the power to open doors,unlock opportunities overseas and help Au
59、stralian businesses go further,faster.We also introduce foreign investors to Australian partners,strengthening global supply chains,creating local jobs and boosting the economy.Promoting Australias growth and prosperity is why were here.The Austrade Landing Pads program provides market-ready startup
60、s and scaleups the opportunity to land and expand in global innovation hubs.For more information,contact Austrade.ContactE:infoaustrade.gov.au T:13 28 78austrade.gov.au11Australian Digital Innovation on the RiseABOUT THE AUSTRALIAN INVESTMENT COUNCILThe Australian Investment Council is the voice of
61、private capital in Australia.Private capital investment has played a central role in the growth and expansion of thousands of businesses,which when combined represents a multi-billion-dollar contribution to the Australian economy.Our members are the standard-bearers of professional investment and in
62、clude:private equity,venture capital and private credit funds,alongside institutional investors such as superannuation and sovereign wealth funds,as well as leading financial,legal and operational advisers.ContactE:researchaic.co T:+61 2 8248 7000 aic.co12Australian Digital Innovation on the RiseEND
63、NOTES1Deloitte Access Economics,Australias Digital Pulse 20192 Export Council of Australia,From Resource Boom to Digital Boom:Capturing Australias Digital Trade Opportunity at Home and Abroad32018 Global Entrepreneurship Index4 Economist Intelligence Unit,Preparing for disruption:Technological readi
64、ness ranking report5Academic Ranking of World Universities(ARWU)20196Austrade,Why Australia Benchmark Report 2020,August 20207Austrade,Why Australia Benchmark Report 2020,August 20208 Startup Muster is an organisation that measures the progress of Australias startup ecosystem.92018 Startup Muster An
65、nual Report10 Australian Financial Review,Meet SafetyCulture,Australias latest unicorn,8 April 202011Preqin&Australian investment Council Yearbook 202012KPMG,2019 Fintech10013Preqin&Australian Investment Council Yearbook 202014Preqin&Australian Investment Council Yearbook 202015 Defence Information
66、Technology and Communications(ICT)Strategic Direction 2016-2020,Australian Government,Department of Defence,201616 SmartCompany,Sydney deep tech incubator Cicada Innovations takes out global award for top incubator,24 April 201817 StartupAUS,Crossroads Report 202018 SmartCompany,A South Australian incubator was just named the best in the Asia Pacific,27 February 201813Australian Digital Innovation on the Rise