Skip to main content

Business News Releases

NSW is the home of RegTech

NEW SOUTH WALES cemented its reputation as the capital of regtech in the Asia-Pacific by sponsoring the RegTech Virtual Pitchfest.

The Pitchfest provides six early stage regtech companies a platform to promote their innovative ideas in front of investors and competition judges, with one winner each named for NSW and Victoria.

Minister for Jobs, Investment, Tourism and Western Sydney, Stuart Ayres said startups on display at this year’s Pitchfest demonstrated the depth of local talent on offer.

“New South Wales leads the region in regtech and this Government believes there is enormous potential for jobs generation and investment in this space,” Mr Ayres said.

“Regtech will increase capacity and productivity across the broader economy. Leading companies such as Sydney-based Checkbox.ai are building innovative solutions that remove roadblocks and allow enterprises to achieve greater efficiencies.”

InfoSecAssure was named NSW winner, while Frankie Financial took out the Victorian title. 

Regtech is the use of emerging technology to provide advanced solutions that solve increasingly complex regulatory and compliance demands.

Sydney is home to 64 percent of Australia’s regtech companies with global spending in the sector forecast to climb from $25 billion in 2019 to $127 billion by 2024.

The RegTech Virtual Pitchfest is organised by The RegTech Association (RTA) to recognise and promote the best regtech early stage startups in Australia.

Contestants have four minutes to pitch, followed by a two-minute Q&A from the judges, with winners announced at the end of the session.

The NSW Government has a partnership with The RegTech Association to support industry initiatives, including the Pitchfest.

The Minister said NSW was committed to supporting tech entrepreneurs in a number of ways, including through the development of landmark projects such as the Sydney Startup Hub and the Sydney Innovation and Technology Precinct.

The NSW Government also supports tech innovation through a range of other measures, including the Minimum Viable Product grant of up to $25,000 for startups.

ends

  • Created on .

Online in court: Gomeroi woman’s legal challenge to Environment Minister

THE Environmental Defenders Office (EDO) is in the Federal Court tomorrow, May 13, acting for Veronica 'Dolly' Talbott, as a member of the Gomeroi Traditional Custodians.
 
According to the EDO, this is an important Constitutional test case.

This case challenges the lawfulness of a decision by the federal Environment Minister not to grant protection to several 'Significant Areas of Aboriginal cultural heritage' within the footprint of the approved Shenhua Watermark open cut coal mine on highly productive agricultural land on the Liverpool Plains, northwest NSW.
 
The Minister made this decision despite acknowledging the “immeasurable” cultural value of the sacred places and objects under direct threat of destruction or desecration, the EDO is claiming.
 
The Minister acknowledged that the development of the mine would destroy or desecrate the Significant Areas but concluded that the mine’s potential economic and social benefits outweighed their heritage value.
 
Dolly Talbott expressed the deep hurt felt by the Elders and the community at this decision and that there was no choice other than to fight it.
 
“When we heard of the Minister’s decision, there was a high level of confusion and disbelief," she said. "Does our culture, our spiritual and sacred places of Aboriginal heritage, mean nothing in this country? We believe the Aboriginal and Torres Strait Islander Heritage Protection Act 1984 was put in place to protect our heritage, but in this case it hasn’t at all.

“If this mega-mine proceeds, our interlinked sacred places will be completely destroyed and obliterated from the landscape. We will no longer be able to read our Country, share our sacred places with our children and grandchildren. Our ancestors’ footprints, their legacy to us, will be lost - lost forever.
 
“We are the only ones who have no monetary interest in this," said Dolly, “We just want to protect our heritage, our sacred places. As the oldest living culture on the planet, surely this should be of utmost importance to Australia?”
 
David Morris, CEO, Environmental Defenders Office said, “Tomorrow, EDO is privileged to represent Dolly Talbott in a hearing challenging the Minister’s decision to protect coal mining over a site of significant importance to First Nations peoples.
 
"Our client will argue that the Minister made an error of law, incorrectly applying the legislation which is designed to protect Aboriginal Cultural Heritage. This will be an important test case, interrogating the limits of the Constitutional basis for the Act and the matters which the Minister was permitted to consider in deciding to refuse protection for the areas.”
 
The Gomeroi Traditional Custodians first lodged an application for protection of the Significant Areas in April 2015 under s.10 of the Aboriginal and Torres Strait Islander Heritage Protection Act 1984 (Cth) (ATSIHP Act). The purpose of the ATSIHP Act is:
 
“the preservation and protection from injury or desecration of areas and objects in Australia and in Australian waters, being areas and objects that are of particular significance to Aboriginals in accordance with Aboriginal tradition.”
 
The Minister acknowledged that the development of the mine would destroy or desecrate the Significant Areas but concluded that the mine’s potential economic and social benefits outweighed their heritage value.
 
The Significant Areas, which are within the footprint of the mine, are an important cultural junction and part of a broader Aboriginal cultural landscape. They include sacred places and significant ceremonial corridors. The interlinked sites also include, but are not limited to, large grinding groove sites, scarred trees and artefactual objects of high order significance irreplaceable to the Gomeroi Traditional Custodians. If the mega-mine of three open-cut pits went ahead, not only would the existing landscape be destroyed but it would be replaced by a new, mine-created landscape.
 
https://www.edo.org.au/shenhua-watermark-coal-mine/

ends

  • Created on .

Builders commend Federal Government on procurement and payment time changes

MASTER BUILDERS Australia has commended the Federal Government’s move to support business through the economic shock of COVID-19 by amending its procurement and contracting arrangements. 

Denita Wawn, CEO of Master Builder Australia said, “The measures to give relief on contract terms and speed up payments  announced by the Minister for Finance today is an extremely positive initiative that will bolster confidence among building and construction businesses working on federally funded construction projects.

“It’s very pleasing to see the government making an effort to be a ‘model procurer’ and setting a good example in providing relief to businesses whose provision of goods and services is affected by COVID-19,” Ms Wawn said. 

“Master Builders has been calling for this measure since the onset of the economic emergency brought on by the coronavirus and it’s really good to see the government has been listening. We must also give credit to the Defence Department which moved early on to provide this kind of support to its suppliers. 

“Now we just need more private sector clients to follow the government’s example and also do the right thing and not take commercial advantage during the COVID-19 crisis,” Ms Wawn said.

www.masterbuilders.com.au

ends

  • Created on .

Planning tool to help businesses reopen and be COVIDSafe

THE National COVID-19 Coordination Commission has created an online planning tool to help business develop a plan to keep their workers, customers and the community safe as they reopen or increase their activities in the weeks and months ahead.

NCCC chair Nev Power said businesses were affected differently by restrictions and everyone needed a plan for when restrictions changed.

“It’s been a really tough time for business owners and their employees, and it will continue to be challenging as we head into a staged recovery," Mr Power said. "We should acknowledge the tremendous efforts of employers and workers, and make sure that we’re looking after each other as we work our way through this pandemic.

“The sooner we can get businesses open and people back in work, the sooner our lives and livelihoods can be rebuilt as our economy recovers. At the same time, as restrictions change, we need to make sure that both workers and customers are safe.

“There’s a huge effort going on across government through Safe Work Australia, industry bodies and health departments to help businesses to have COVIDSafe plans in place.”

The tool brings together information from across government on the range of help and assistance available to support businesses. This tool complements the Safe Work Australia online hub, which remains the definitive source of information for businesses to understand their work health and safety obligations. 

“We need businesses everywhere to get behind the safety protocols and have their COVIDSafe plans in place," Mr Power said.

“One of the key things will be to maintain our discipline around physical distancing and hygiene. Our success depends on everyone – business owners, workers, customers – keeping up our practices of handwashing, social distancing, covering our sneezes and coughs, staying home if you are unwell, getting tested if you have symptoms and downloading the COVIDSafe app,” Mr Power said.

Businesses should seek advice from their local WHS authority, Safe Work Australia, or contact the Fair Work Ombudsman to ensure they meet all their legal obligations.

The online planning should take about 30 minutes to complete and leave businesses with a clear idea about what they will do to keep people safe, how they will get their business back up and running and how they might adapt their operating model.

It will also help businesses to plan practical steps such as organising supplies, updating insurance and reactivating subscriptions, and provides links to the assistance available to help them reopen, including help with cash flow, wages and loans.

The tool can be downloaded from the NCCC website.

ends

  • Created on .

Security Committee to hear from government, communications and civil society on international production orders bill

THE Parliamentary Joint Committee on Intelligence and Security (PJCIS) will hold three public hearings this week for its Review into the Telecommunications Legislation Amendment (International Production Orders) Bill 2020.

The chair, Andrew Hastie MP, said, "The Committee has received a number of submissions from government, communications, and civil society on the international production orders bill.

"These hearings will allow for the Committee to engage with a wide range of stakeholders on topics relevant to consideration of the bill."

Teleconference facilities will be used to connect witnesses to Committee members.

Public hearings

12 May 2020

3.30pm – 5.30pm 

Committee Room 1R1, Parliament House, Canberra

13 May 2020

9.30am – 12.30pm

Committee Room 1R1, Parliament House, Canberra

14 May 2020

9.30am – 12.30pm

Committee Room 1R1, Parliament House, Canberra

Programs for the hearings can be found here.

Audio of the hearings will be streamed at aph.gov.au/live.

Further information on the inquiry can be obtained from the Committee’s website

ends

  • Created on .