THE Australian and New South Wales Governments have given the green light for construction of the Parkes to Narromine section of Inland Rail.

Deputy Prime Minister, Nationals’ Leader and Minister for Infrastructure, Transport and Regional Development, Michael McCormack said Inland Rail would bring jobs and opportunities, improve connectivity and increase freight productivity for businesses and consumers in regional Australia.

“Today is another vital step in making our Inland Rail vision a reality and I am excited for the first section of Inland Rail construction to commence, with $9.3 billion in Federal Government investment,” Mr McCormack said. 

“Communities across regional Victoria, New South Wales and Queensland will see the benefit of better access to markets at home and overseas, as well as ensuring Australia meets the challenge of our freight task which is set to double.”

Minister for Finance and the Public Service Mathias Cormann said Inland Rail would be a corridor of commerce for communities along the Eastern Seaboard.

“Through this investment, the Australian Government is delivering on its commitment to increase freight productivity, ease road congestion and streamline supply chains for businesses and consumers,” Senator Cormann said.

Minister for the Environment Melissa Price said final approval for the works under the Environment Protection and Biodiversity Conservation Act was provided by the Department of the Environment and Energy this week.

“The Australian Rail Track Corporation (ARTC) can start its upgrade to the 106km of track between these two important regional service centres. This will bring jobs and economic opportunity to the region,” Ms Price said.

NSW Minister for Planning and Housing, Anthony Roberts said approval for the works under the NSW Environmental Planning and Assessment Act was provided by the New South Wales Department of Planning and Environment previously.

“I’m pleased to see both governments give the green light for the first Inland Rail project to begin,” Mr Roberts said. “Our freight network supports economic growth in New South Wales, however the existing freight rail line is constrained as it travels through the congested Sydney network, bypassing some of the state’s most productive agricultural regions.”

The ARTC has been appointed by the Australian Government to deliver Inland Rail in partnership with the private sector.

Federal Member for Parkes Mark Coulton said he was pleased to see regional Australians are ready for Inland Rail.

“Inland Rail was what made me get off the tractor and put my hand up for Parliament—this is going to be a transformational investment in communities throughout Western NSW,” Mr Coulton said.

“Whether it’s seeing firsthand the opportunities for greater market access as Australia’s Assistant Trade Minister or understanding the passion local farmers and small businesses have for new jobs and  opportunities in Western NSW, this is an exciting project.”

NSW Minister for Roads, Maritime and Freight Melinda Pavey welcomed the next step toward making the Parkes to Narromine section a reality.

“The capacity to move freight efficiently and reliably is the single most important factor in ensuring the continued health of our domestic economy, and in growing and maintaining economic competitiveness,” Mrs Pavey said.

EXTRA >>

More information about the Inland Rail project is available at infrastructure.gov.au/rail/inland/ and epbcnotices.environment.gov.au/publicnoticesreferrals/.

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SLINGSHOT has conducted the second annual Icon business bootcamp and accelerator program for NSW regional small business owners and startups.

The program has been designed to support small business and entrepreneurs in the Hunter region and beyond. A collaboration between Slingshot, the University of Newcastle and the NSW Department of Industry, Innovation and Science, Icon aims to supercharge the next generation of regional startups to drive innovation in the local economy.

Two programs were on offer: a free three-day business bootcamp for any business owner, founder or sole trader wanting to understand business models, growth, marketing, intellectual property, raising capital and pitching. This was open to all businesses, including NFPs, social enterprises or even just someone with an idea. 

The second program was a 10-week accelerator where startups can apply and pitch their idea to secure a position in the program for investment. This year successful applicants received an increase in seed investment of $25,000, tailored training and world class mentoring throughout the program.

Slingshot co-founder Trent Bagnall said the Icon program played an important role in driving innovation and commercial outcomes in the Hunter region.

“Startups and small businesses are the lifeblood of regional Australia,” Mr Bagnall said.

“Not only will Icon bring experts to the area, it will also facilitate greater collaboration with corporates and investors who can help grow these businesses. We have already supported many successful startups in the region through our accelerator programs like Deckee, Camplify, Liftango and Social Pinpoint, who were recently acquired.”

Last year, several founders who went through the business bootcamp also applied for the accelerator program and secured a place which allowed them to further develop their ideas and tackle problems.

Icon accelerator alumni Josh Leask, the founder of Finactly, achieved great momentum since the program and recently secured a contract as well as going live with a large Australian bank.

“When we started the Icon Accelerator last year we had just an idea,” Mr Leask said. “Just seven months later we were out there solving the problem of unexplained transactions. It has taken a lot of work by the team to get to this point and I’m proud of what we’ve achieved.”

University of Newcastle senior deputy vice-chancellor for research and innovation, Professor Kevin Hall said the University of Newcastle was delighted to be working with Slingshot again through their Integrated Innovation Network.

“We are looking forward to hosting the business bootcamp and accelerator on campus to enable more opportunities for our talented staff and students to create new enterprises,” Prof. Hall said.

“The university has a strong track record of success in innovation and translational research, so the Icon business bootcamp and accelerator program is a good fit for us.”

Last year, Slingshot and University of Newcastle were awarded funding under the Australian Government’s $23 million Incubator Support initiative to establish the Integrated Innovation Network (I2N) Regional Accelerator of which Icon is a part.

I2N is expected to create at least 45 jobs in the short term, with more to come as startups find success domestically and internationally. It will also deliver around $2.0m in investment back into the Hunter economy over two years.

The Icon Accelerator for 2018 concluded on December 19 in Newcastle with a Demo Day showcasing the cohort’s businesses which last year was also supported by Hunter icons including Kurt Fearnley and Carol Duncan who pitched their big ideas. The program is expected to run again this year.

http://icon.slingshotters.com/

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THE re-development of Great Keppel Island resort, on the southernmost edge of the World Heritage-listed Great Barrier Reef, has taken an unexpected turn towards technology for funding.

After missing out on a Queensland casino licence which would have funded the re-establishment of the resort, owners Tower Holdings are now looking to proposals by blockchain technology and crypto-currency developers.

Tower Holdings has always promoted that Great Keppel Island resort would display world-leading environmental and sustainability practices and technologies.

Project co-founder Tim Sommers said through the establishment of a new security token offering, to be known as Great Keppel Island Tokens (GKI Tokens), investors would be buying a piece of the resort zone development.  

He expected the process to be a game changer for the island’s development, raising several billion dollars through the process he called Crypto Currency Tokenisation. The difference between investing in a new cryptocurrency and the GKI Tokens is that they are regarded as being underpinned by real property. 

“Great Keppel Island Token holders will receive significant benefits from the Island itself in addition to the asset backing unlike most other crypto currencies which have no asset backing at all and their value is based purely on sentiment,” Mr Sommers said.

“The GKI Token holders will have the very real asset backing of the actual island, which is predicted to be valued at over $3 billion when fully developed within five years. Building starts in 2019.

“The GKI Token Holders also receive the benefit of liquidity should they wish to sell their tokens at any time.” 

A major marketing edge of the process is in the publicity the blockchain-underpinned system is expected to generate.

“Great Keppel Island will be the first blockchain, crypto and Internet of Things enabled island in the world allowing high security, crypto payments and accountability for services,” Mr Sommers said.

“The development will provide over 1,400 full and part time jobs to the local area. It really will make Keppel great again.”

Owner Tower Holdings CEO Anthony Aiossa said Great Keppel would be the first island in the world to be crypto tokenised. This would finally support the ambitious, yet sustainable, plans for the resort to be realised.

“This is the largest ever development approval obtained on the Great Barrier Reef and it’s set to establish a new benchmark within the Australian tourism industry, especially with its major focus on environmentally sustainable tourism initiatives,” Mr Aiossa said.

“The Great Keppel Island project will create an iconic tourism destination for both domestic and international guests who wish to experience the Great Barrier Reef in all of its glory.

“In recent years the product offering of many tourism destinations within Australia and the Great Barrier Reef has not kept pace with the significant new tourism development in other beach holiday locations such as Bali, Fiji, Thailand and Hawaii which has seen a major outflow of Australian tourists to these locations.

“The Great Keppel Island project will offer a brand new fully integrated resort with 17 white sandy beaches, a spectacular beach front hotel, new marina, retail village and world class golf course all on the one island with easy direct air access from Sydney, Brisbane and Cairns.”   

Mr Aiossa said the Queensland Government had approved all the development proposals including 750 luxury villas, 300 luxury apartments, 250 marina berths, 9,000sqm of retail shops and restaurants, an 18-hole Greg Norman designed golf course and a 1.5km commercial airstrip capable of international and domestic flights.

In addition, he said, the Queensland Government was investing $25 million to connect power and water from the mainland. 

A website address has been established for information on GKI Tokens – www.gkitoken.com – but is currently not functioning. It is believed the crypto-funding side of the proposal is awaiting Federal Government approvals.

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