Billion-dollar tech founders turn investors with new $50m fund
A group of Australian technology entrepreneurs who have built billion-dollar start-ups have joined forces to invest in a new $50 million venture capital fund, to back the next wave of local founders.
More than 15 founders of so-called 'unicorn' start-ups, including Go1 co-founder Andrew Barnes, A Cloud Guru co-founder Sam Kroonenburg and former Aconex chief executive Leigh Jasper, have invested in Glitch Capital.
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West Australian
3 hours ago
- West Australian
Anthony Albanese says Labor will fight ‘frustration' in government and deliver on election promises, in National Press Club address
Anthony Albanese will use his first major speech since winning a second term to promise to fight against growing cynicism and 'frustration' in government. The Prime Minister will put forward his second-term agenda in an address to the National Press Club in Canberra on Tuesday, vowing to 'make a real difference to people's lives'. That includes delivering on Labor's policies to boost bulk-billed GP appointments, decrease student debt and other cost-of-living measures. While he will acknowledge the 'significant global uncertainty' and 'economic instability' currently underpinning the world, he says Labor will be a 'practical and positive alternative' and delivers on its 'vision for a stronger, fairer Australia'. 'It is the more corrosive proposition that politics and government and democratic institutions, including a free media, are incapable of meeting the demands of this moment,' he is expected to say. 'Our responsibility is to disprove it. 'To recognise that some of this frustration is drawn from people's real experience with government – be it failures of service delivery, or falling through the cracks of a particular system. 'To counter this, we have to offer the practical and positive alternative.' Mr Albanese's comments on a volatile international environment comes as he is expected to have his first face-to-face meeting with US President Donald Trump when he travels to Canada for the G7 Leader's Summit over the weekend. Labor faces a heavy policy agenda when parliament finally sits on July 22 for the first time since the May 3 election, with Mr Albanese promising to legislate a 20 per cent discount of student debts as its first priority. Mr Albanese will also highlight Labor's election vow to ensure 90 per cent of GP visits are bulk-billed by 2030, progress on reaching net zero emissions by 2050, and its continued target to build 1.2 million new homes through the Housing Accords as other key areas for 'delivery' in Labor's second term. 'Our second term agenda has been shaped by the lives and priorities of the Australian people. And it is built on Australian values,' he will say. 'It is the mission and the measure of a Labor government to give those enduring ideals of fairness, aspiration and opportunity renewed and deeper meaning, for more Australians. 'To deliver reforms that hold no-one back – and drive progress that leaves no-one behind.' The government will also expand its First Home Guarantee scheme to all first home buyers, regardless of income caps, which allow them to purchase an eligible property with a 5 per cent deposit, while also avoiding lender's mortgage insurance. Labor has also committed to investing $10bn to build 100,000 new homes which will be earmarked for firsthome buyers. Since Labor's election landslide on May 3, it has faced attacks on its plan to bring in a 30 per cent tax on superannuation balances over $3m. While the Greens have already flagged it will work with Labor to most likely pass the tax in the Senate, the Coalition have criticised the policy as a 'grab for revenue'. However Jim Chalmers has rebuked changes to the tax, calling the changes 'modest' and 'methodical,' which will make a 'meaningful difference to the budget'.
Perth Now
3 hours ago
- Perth Now
Albo's vow to Aussies after landslide win
Anthony Albanese will use his first major speech since winning a second term to promise to fight against growing cynicism and 'frustration' in government. The Prime Minister will put forward his second-term agenda in an address to the National Press Club in Canberra on Tuesday, vowing to 'make a real difference to people's lives'. That includes delivering on Labor's policies to boost bulk-billed GP appointments, decrease student debt and other cost-of-living measures. While he will acknowledge the 'significant global uncertainty' and 'economic instability' currently underpinning the world, he says Labor will be a 'practical and positive alternative' and delivers on its 'vision for a stronger, fairer Australia'. 'It is the more corrosive proposition that politics and government and democratic institutions, including a free media, are incapable of meeting the demands of this moment,' he is expected to say. 'Our responsibility is to disprove it. 'To recognise that some of this frustration is drawn from people's real experience with government – be it failures of service delivery, or falling through the cracks of a particular system. 'To counter this, we have to offer the practical and positive alternative.' Anthony Albanese will outline his vision for his second-term government at the National Press Club on Tuesday. NewsWire/ Martin Ollman Credit: News Corp Australia Mr Albanese's comments on a volatile international environment comes as he is expected to have his first face-to-face meeting with US President Donald Trump when he travels to Canada for the G7 Leader's Summit over the weekend. Labor faces a heavy policy agenda when parliament finally sits on July 22 for the first time since the May 3 election, with Mr Albanese promising to legislate a 20 per cent discount of student debts as its first priority. Mr Albanese will also highlight Labor's election vow to ensure 90 per cent of GP visits are bulk-billed by 2030, progress on reaching net zero emissions by 2050, and its continued target to build 1.2 million new homes through the Housing Accords as other key areas for 'delivery' in Labor's second term. 'Our second term agenda has been shaped by the lives and priorities of the Australian people. And it is built on Australian values,' he will say. 'It is the mission and the measure of a Labor government to give those enduring ideals of fairness, aspiration and opportunity renewed and deeper meaning, for more Australians. 'To deliver reforms that hold no-one back – and drive progress that leaves no-one behind.' The May 3 federal election delivered a thumbing win to Mr Albanese, with Labor securing a significant majority of 94 seats. Jason Edwards/ NewsWire Credit: News Corp Australia The government will also expand its First Home Guarantee scheme to all first home buyers, regardless of income caps, which allow them to purchase an eligible property with a 5 per cent deposit, while also avoiding lender's mortgage insurance. Labor has also committed to investing $10bn to build 100,000 new homes which will be earmarked for firsthome buyers. Since Labor's election landslide on May 3, it has faced attacks on its plan to bring in a 30 per cent tax on superannuation balances over $3m. While the Greens have already flagged it will work with Labor to most likely pass the tax in the Senate, the Coalition have criticised the policy as a 'grab for revenue'. However Jim Chalmers has rebuked changes to the tax, calling the changes 'modest' and 'methodical,' which will make a 'meaningful difference to the budget'.
The Advertiser
4 hours ago
- The Advertiser
Aussies urged to charge ahead with household batteries
Australia could slash $4 billion a year off power bills by the end of the decade if households embrace solar batteries in larger numbers, a report forecasts. The Climate Council issued the prediction on Tuesday, finding the savings were possible if half of all homes with solar panels installed added batteries by 2030. But progress could also get a bigger boost from allowing more electric vehicles to charge up the national grid, if solar battery prices continued to fall, and if all new households were designed for rooftop solar and battery systems, it found. The report comes amid heightened demand for home batteries after the announcement of a $2.3 billion federal government scheme to subsidise their purchase by 30 per cent from July. The Climate Council report, called Battery Boom, found about 300,000 (eight per cent) of the four million Australian households with solar panels used batteries to store energy. If that figure was lifted to reach two million homes by 2030 - half of those with rooftop solar panels currently installed - household energy bill savings could hit $4 billion a year. Electricity bill savings could rise from $1500 with solar panels to $2300 a year after installing a battery, Climate Council spokesman Greg Bourne said, although further support would be needed to help some families deal with the up-front cost. "Batteries haven't penetrated far enough into those four million (solar) households, but it makes a huge difference when you start picking up the sunshine from midday and time-shifting it to when high cost of electricity comes in," he told AAP. "It will start as word-of-mouth in the neighbourhood and talk of 'my bill's half of what it was' or 'my bills are a quarter of what they were because we put a battery in' and that's part of the education process." A typical household battery is expected to cover its cost within 8.3 years without the upcoming subsidy, the report found, down from 10 years in 2022. The Climate Council report also found big battery storage projects planned for Australia had doubled over the past year to reach 20 gigawatts, and the price of large energy storage had fallen by 20 per cent. On a state-by-state basis, Western Australia led the nation for the most big battery projects with eight installed, Victoria boasted the most community solar batteries, and the Northern Territory had the most homes with solar batteries installed at 15.9 per cent. Battery storage could also get a significant boost from compatible electric vehicles, Mr Bourne said, as more vehicle-to-grid chargers were standardised and sold in Australia. Other recommendations in the report to boost battery storage included adding rooftop solar and storage capacity to the National Construction Code, expanding support for community batteries, and strengthening on-shore battery recycling schemes. Australia could slash $4 billion a year off power bills by the end of the decade if households embrace solar batteries in larger numbers, a report forecasts. The Climate Council issued the prediction on Tuesday, finding the savings were possible if half of all homes with solar panels installed added batteries by 2030. But progress could also get a bigger boost from allowing more electric vehicles to charge up the national grid, if solar battery prices continued to fall, and if all new households were designed for rooftop solar and battery systems, it found. The report comes amid heightened demand for home batteries after the announcement of a $2.3 billion federal government scheme to subsidise their purchase by 30 per cent from July. The Climate Council report, called Battery Boom, found about 300,000 (eight per cent) of the four million Australian households with solar panels used batteries to store energy. If that figure was lifted to reach two million homes by 2030 - half of those with rooftop solar panels currently installed - household energy bill savings could hit $4 billion a year. Electricity bill savings could rise from $1500 with solar panels to $2300 a year after installing a battery, Climate Council spokesman Greg Bourne said, although further support would be needed to help some families deal with the up-front cost. "Batteries haven't penetrated far enough into those four million (solar) households, but it makes a huge difference when you start picking up the sunshine from midday and time-shifting it to when high cost of electricity comes in," he told AAP. "It will start as word-of-mouth in the neighbourhood and talk of 'my bill's half of what it was' or 'my bills are a quarter of what they were because we put a battery in' and that's part of the education process." A typical household battery is expected to cover its cost within 8.3 years without the upcoming subsidy, the report found, down from 10 years in 2022. The Climate Council report also found big battery storage projects planned for Australia had doubled over the past year to reach 20 gigawatts, and the price of large energy storage had fallen by 20 per cent. On a state-by-state basis, Western Australia led the nation for the most big battery projects with eight installed, Victoria boasted the most community solar batteries, and the Northern Territory had the most homes with solar batteries installed at 15.9 per cent. Battery storage could also get a significant boost from compatible electric vehicles, Mr Bourne said, as more vehicle-to-grid chargers were standardised and sold in Australia. Other recommendations in the report to boost battery storage included adding rooftop solar and storage capacity to the National Construction Code, expanding support for community batteries, and strengthening on-shore battery recycling schemes. Australia could slash $4 billion a year off power bills by the end of the decade if households embrace solar batteries in larger numbers, a report forecasts. The Climate Council issued the prediction on Tuesday, finding the savings were possible if half of all homes with solar panels installed added batteries by 2030. But progress could also get a bigger boost from allowing more electric vehicles to charge up the national grid, if solar battery prices continued to fall, and if all new households were designed for rooftop solar and battery systems, it found. The report comes amid heightened demand for home batteries after the announcement of a $2.3 billion federal government scheme to subsidise their purchase by 30 per cent from July. The Climate Council report, called Battery Boom, found about 300,000 (eight per cent) of the four million Australian households with solar panels used batteries to store energy. If that figure was lifted to reach two million homes by 2030 - half of those with rooftop solar panels currently installed - household energy bill savings could hit $4 billion a year. Electricity bill savings could rise from $1500 with solar panels to $2300 a year after installing a battery, Climate Council spokesman Greg Bourne said, although further support would be needed to help some families deal with the up-front cost. "Batteries haven't penetrated far enough into those four million (solar) households, but it makes a huge difference when you start picking up the sunshine from midday and time-shifting it to when high cost of electricity comes in," he told AAP. "It will start as word-of-mouth in the neighbourhood and talk of 'my bill's half of what it was' or 'my bills are a quarter of what they were because we put a battery in' and that's part of the education process." A typical household battery is expected to cover its cost within 8.3 years without the upcoming subsidy, the report found, down from 10 years in 2022. The Climate Council report also found big battery storage projects planned for Australia had doubled over the past year to reach 20 gigawatts, and the price of large energy storage had fallen by 20 per cent. On a state-by-state basis, Western Australia led the nation for the most big battery projects with eight installed, Victoria boasted the most community solar batteries, and the Northern Territory had the most homes with solar batteries installed at 15.9 per cent. Battery storage could also get a significant boost from compatible electric vehicles, Mr Bourne said, as more vehicle-to-grid chargers were standardised and sold in Australia. Other recommendations in the report to boost battery storage included adding rooftop solar and storage capacity to the National Construction Code, expanding support for community batteries, and strengthening on-shore battery recycling schemes. Australia could slash $4 billion a year off power bills by the end of the decade if households embrace solar batteries in larger numbers, a report forecasts. The Climate Council issued the prediction on Tuesday, finding the savings were possible if half of all homes with solar panels installed added batteries by 2030. But progress could also get a bigger boost from allowing more electric vehicles to charge up the national grid, if solar battery prices continued to fall, and if all new households were designed for rooftop solar and battery systems, it found. The report comes amid heightened demand for home batteries after the announcement of a $2.3 billion federal government scheme to subsidise their purchase by 30 per cent from July. The Climate Council report, called Battery Boom, found about 300,000 (eight per cent) of the four million Australian households with solar panels used batteries to store energy. If that figure was lifted to reach two million homes by 2030 - half of those with rooftop solar panels currently installed - household energy bill savings could hit $4 billion a year. Electricity bill savings could rise from $1500 with solar panels to $2300 a year after installing a battery, Climate Council spokesman Greg Bourne said, although further support would be needed to help some families deal with the up-front cost. "Batteries haven't penetrated far enough into those four million (solar) households, but it makes a huge difference when you start picking up the sunshine from midday and time-shifting it to when high cost of electricity comes in," he told AAP. "It will start as word-of-mouth in the neighbourhood and talk of 'my bill's half of what it was' or 'my bills are a quarter of what they were because we put a battery in' and that's part of the education process." A typical household battery is expected to cover its cost within 8.3 years without the upcoming subsidy, the report found, down from 10 years in 2022. The Climate Council report also found big battery storage projects planned for Australia had doubled over the past year to reach 20 gigawatts, and the price of large energy storage had fallen by 20 per cent. On a state-by-state basis, Western Australia led the nation for the most big battery projects with eight installed, Victoria boasted the most community solar batteries, and the Northern Territory had the most homes with solar batteries installed at 15.9 per cent. Battery storage could also get a significant boost from compatible electric vehicles, Mr Bourne said, as more vehicle-to-grid chargers were standardised and sold in Australia. Other recommendations in the report to boost battery storage included adding rooftop solar and storage capacity to the National Construction Code, expanding support for community batteries, and strengthening on-shore battery recycling schemes.
