• +61 2 9492 1000
  • launch@launchgroup.com.au

launch-admin

launchgroup.com.au > Articles by: launch-admin
29 Jan

Coding classes for girls and the wonderful women in their life to role model learning in STEM

by launch-admin Jan 29, 2019 0 News

Coding classes for girls and the wonderful women in their life to role model learning in STEM

Girl Geek Academy school holiday workshops will upskill parents and guardians alongside their children to address the wider societal issues of gender imbalance

Australia, 9 January 2019:  Girl Geek Academy has partnered with regional women’s health promotion agency,  Women’s Health East to deliver a series of STEM-focused workshops aimed at tackling gender imbalance in technology careers and promoting equality in the classroom.

The workshops will be rolled out in  January and March 2019 across Melbourne’s East to support mums, daughters, aunts, nieces, grandparents, neighbours, and more groups of women and girls to learn coding together. Every young person will bring along a parent or guardian and Girl Geek Academy will be delivering the successful  #MissMakesCode program model, which is specifically aimed at engaging young girls aged 5-8 into STEM.

Girl Geek Academy co-founder and CEO, Sarah Moran said: “Currently there is a lack of a STEM-based program that educates both women and girls in the same classroom, and we know the exponential value of working to build intergenerational STEM knowledge. By bringing women and girls together into one workshop, we are able to create something more vital and long-lasting — an instant role model within their immediate family.

“By upskilling the women parents and guardians, the girls have a role model in their household who shows confidence and interest in technology, and can work with them on coding games and STEM schoolwork. It could also be an opportunity for the women to explore a new career path option if they wish to cross-skill into this in-demand profession.”    

The sessions will focus not only on technical coding skills, but also contain content and discussions around gender equality and cyber safety. Studies show that gender equality is a precondition for the prevention of family violence and other forms of violence against women and girls.  

“It’s a privilege to partner with Women’s Health East on this initiative. Studies have shown societies with more gender equality have decreased rates of family violence, because it creates a society based on respect. Gender equality affects everyone, men and women, and should be a priority both in the workplace and in the home,” said Ms Moran.  

Women’s Health East is the women’s health promotion agency for the Eastern Metropolitan Region (EMR) of Melbourne. Its vision is equality, empowerment, health and wellbeing for all women. A key priority of Women’s Health East is advancing gender equality, through important projects like #MissMakesCode.

“Women are underrepresented in STEM-related fields. This is not because of a lack of talent, rather women and girls experience a range of gendered barriers to getting involved in STEM. Some of these begin early where girls are not encouraged to develop analytical and spatial skills through play. #MissMakesCode is a fun way to begin to bridge this divide for young girls in the EMR,” said Jayde McBurnie,Together For Equality & Respect Manager.

Through this initiative, both Girl Geek Academy and Women’s Health East hope to address the issue of gender inequality in STEM subjects, which is a leading cause of workplace inequality as there are simply not enough women with the skills to work in technology and STEM careers.

Ms Moran continued: “Our long-term aim is to explore whether this important behaviour modelling will result in influencing more girls to continue with STEM education, which we will do with ongoing evaluation at regular intervals after the workshop.”

These workshops are supported by the Victorian Government as part of  Free From Violence – Victoria’s strategy to prevent family violence and all forms of violence against women. The initiative’s goal of creating a safe and equal society for all Victorians is championed by Girl Geek Academy, whose focus is on addressing a broad range of technology gender equality issues.

Supporting partners also include Yarra Ranges Council, Inspiro Community Health, Maroondah Council, Whitehorse Council and Monash Council.

For more information, please visit:  www.girlgeekacademy.com/events

– ENDS –


29 Jan

CA ANZ partners with Fishburners to capitalise on disruption in the profession

by launch-admin Jan 29, 2019 0 News

CA ANZ partners with Fishburners to capitalise on disruption in the profession

28 October 2018: Today Chartered Accountants Australia and New Zealand (CA ANZ) unveils its plan to align with leading innovation community Fishburners as part of its strategy to strengthen the accounting profession for the future.   

“Our Strategic Review, involving more than 100 member workshops, confirmed that the profession is changing rapidly, with much more diversity and disruption than experienced in the past. For the profession to remain at the forefront, it is vital we keep pace,” said Rick Ellis, CEO of CA ANZ.

           

“Members, particularly in public practice, yearn for connections with new solutions, technologies and insights to be able to shape the services they offer.”

“One source of this disruption is within innovation communities – they are evolving business models, creating new markets and driving operating efficiencies.”

CA Catalyst brings together Chartered Accountants from all segments, innovation communities Fishburners, Stone & Chalk and The Icehouse, and technology providers to create opportunities for mutually beneficial collaboration.

“This includes immersions within innovation communities, access to training, toolkits and guides for disruption-readiness, and exposure to practical solutions,” said Ellis.

“CA Catalyst is an opportunity for Chartered Accountants to get on the leading edge of the future of accounting, build personal and organisational capabilities, explore new markets and services, and leverage innovation to provide greater value for themselves, their clients and their communities.”

Fishburners is a well-established not-for-profit in Australia, nurturing high impact, scalable start-ups in a culture of shared ideas and experiences.

“This partnership and professional exchange offers fantastic learning opportunities for both organisations and will generate huge benefits to our startups as they prepare to expand,” said Pandora Shelley, CEO of Fishburners.

“Much of the conversation in the startup world is focused around securing a funding outcome. Yet, understanding when to take on external funding and how to apply that funding efficiently is equally important – with many of our most successful startups boot-strapping for a significant period in the early stages.”

“Fishburners is focused on supporting startups at every stage in their growth journey.  Helping them to start out strong, with a firm financial foundation is critical.”

“Many startups, particularly at early stage, don’t have the resources to take on a senior CFO who can provide this kind of advice.”  

“Through this partnership, start-ups can have access to accounting and financial expertise, assisting them to make confident and accurate decisions about their growth.


END

29 Jan

Australia’s largest startup community, Fishburners, doubles its Brisbane operation in second year

by launch-admin Jan 29, 2019 0 News

Tech sector in shock at AA Bill:

StartupAUS deeply concerned about big step backwards

for Australian technology


Australian startups left reeling from the rushed legislation passed late yesterday evening in what amounts to an own goal by the Australian government


Australia, 24 October 2018: Australia’s largest non-profit startup community, Fishburners, has doubled down on its Queensland presence, growing to a 205 desk operation within the two-year old Capital hub in Brisbane’s CBD.


The growth follows a successful two-year partnership with the City of Brisbane and a steady increase in the demand for desks within Fishburners’ Brisbane and Sydney operations. Through the City of Brisbane, Fishburners are in the process of launching two new accelerator programs, including a Launchpad for startups looking to scale to Asia.


Fishburners hosts Australia’s largest startup community – with 383 startups and 728 entrepreneurs across the Sydney, Brisbane and Shanghai working hubs. The successful startup funnel has mentored and grown currently more than 1,800 entrepreneurs and 1,250 startup entities since opening.


Fishburner’s CEO Pandora Shelley said, Fishburners is a community which helps foster and grow startup businesses, offering much more than desk space.


“We’re on a mission to help inspire tech startups to take their first step and to support each stage of their growth journey.  This year, Fishburners is itself scaling up, with demand for our services seeing unprecedented growth over the past year,” said Ms Shelley.


“There is enormous entrepreneurial energy coming out of Queensland at this time and the Capital is a vibrant and visionary initiative which has really helped fuel local startup growth. We are thrilled to take our partnership with City of Brisbane to the next level with this expansion.”


Brisbane City Council’s Lord Mayor Graham Quirk said he is excited to watch the growth continue as Brisbane transforms into a national innovative hot spot.


“Brisbane is transforming into a business and innovation hub, with our attractive lifestyle offering, links to overseas markets and great employment opportunities, [we are] luring start-up’s to build a global business in our own backyard,” said Cr Quirk.

Fishburners is a family of entrepreneurs who are committed to collaborating and building something big. Members are supported in their endeavors with perks, probonos, mentoring, events and programs etc.

 
Community is the foundation for Fishburners and to become a member or “Burner” is a special thing. All members must agree to Fishburners’ values of collaboration, brilliance and community, namely: “We give back whenever we can”. It is a proud, inclusive and discrimination-free space.

Fishburners’ startups create products in a broad range of categories, here are the top 5:
  1. B2B (36%)
  2. SaaS (29%)
  3. iOS app (28%)
  4. Android app (23%)
  5. Marketing (23%)

Originally located in Ultimo, within four years Fishburners went from one floor to taking up the whole building. A new chapter for Fishburners Sydney, began in 2018 in the new coworking space within the Sydney Startup Hub, which has set a new standard for startup spaces in Australia.

High-profile alumni that were ‘born’ at Fishburners include successful startups such as Koala, GoCatch, graphic design marketplace DesignCrowd, Code Camp, Tinybeans, Madpaws, Jayride and Hyper Anna. Koala, Australia’s highest-rated mattress, raised $15m and generated $14m in revenue in its first year.

All up, Fishburners has provided a community space and startup resources for over 100,000 people with support from category-leading partners including Google for Entrepreneurs, UTS and Optus and government partners such as Jobs for NSW and Brisbane Marketing.


ENDS


29 Jan

Two Health Tech Fishburners Finalists in 2018 Google.org Impact Challenge

by launch-admin Jan 29, 2019 0 News

Two Health Tech Fishburners Finalists in 2018 Google.org Impact Challenge
“Burners” Xceptional and Radiant compete for up to $1 million in grant funding


12 October 2018, Sydney AUSTRALIA:  Anxiety-reducing autism app Xceptional and mental health social enterprise Radiant are amongst the 10 finalists in this year’s Google.org Impact Challenge, an initiative by Fishburners’ partner, Google for Entrepreneurs.
Now in its third year running, the challenge is open to Australian organisations whose innovative ideas for change are making an impact locally and globally.


Both Fishburners finalists are in the health tech space, a startup sector rapidly growing in Australia.


Xceptional is changing the lives of autism sufferers by using advanced software testing to address autism unemployment. 125 million people worldwide experience autism yet this group is often underemployed. The app uses activity-based assessments and games to reduce the anxiety that often comes with autism and prevents 65% of people with autism from gaining or retaining employment. Many people with autism have an incredible eye for detecting patterns in data and an ability to sustain superior levels of concentration, making them uniquely qualified to make exceptional contributions to tech and data teams. By mitigating anxiety and testing for functional skills, the Xceptional app will empower autistic employees to flourish, help employers embrace the benefits of neurodiversity, and make a massive dent in autism unemployment.


Radiant, a subsidiary of Relationships Australia and a registered charity, uses data-driven algorithms to match mental health professionals to help-seekers based on their needs. Recent reviews suggest the quality of this match is the best predictor of positive therapeutic outcomes and that many of the 1 in 5 Australians suffering from mental health issues would be more empowered to seek help if their path to assistance were more easily navigated. Longer term, Radiant will be able to identify mental health problems sooner and connect users to help faster, through an AI inference engine assessing search data.
The general public can vote for one finalist to receive the $1 million People’s Choice grant. The judges, including  Dr Sarah Pearson, the first chief innovation officer at the Department of Foreign Affairs and Trade and Dr Alan Finkel AO, Australia’s eighth Chief Scientist, will then choose a further three winners. Winners will be announced on 1 November.
Up for grabs is an additional $5.5 million in project funding: judges will select four winners to each receive $1 million in grant funding, as well as support from Google volunteers. The remaining six finalists will each receive $250,000.


The Google.Org Impact Challenge Hall of Fame includes Professor Fred Hollows who used mobile technology to check for blinding damage caused by diabetes and Jack Bancroft who created the Australian Indigenous Mentoring Experience – an online game to inspire young indigenous students to learn maths and science.
Fishburners CEO Pandora Shelley said the community is proud to see fellow startups recognised.
“Our focus this year has been on strengthening our internal community and this is really coming to the fore with social impact organisations getting the support and acclaim they deserve,” Ms Shelley said.
“Startups like Radiant and Xceptional are putting mental health and wellbeing into the spotlight and reducing the stigma.”
They join the ranks of other Burners making technology and innovation for the advancement of society. This year Fishburners, Australia’s most established startup community, celebrated its seventh anniversary.


ENDS

9 Dec

Tech sector in shock at AA Bill: StartupAUS deeply concerned about big step backwards for Australian technology

by launch-admin Dec 9, 2018 0 News

Tech sector in shock at AA Bill:

StartupAUS deeply concerned about big step backwards

for Australian technology


Australian startups left reeling from the rushed legislation passed late yesterday evening in what amounts to an own goal by the Australian government


Australia, 7 December: StartupAUS today expressed its disappointment to see the passing of the Telecommunications and Other Legislation Amendment (Assistance and Access) Bill 2018 in the Senate yesterday evening.  While StartupAUS acknowledges the need to combat dangerous criminal activity, this bill is both ineffective at doing so and creates a significant burden for the local technology sector.


In the latest edition of its flagship Crossroads report, StartupAUS details an increasingly hostile political attitude towards the technology sector. In an environment where legislation is difficult to pass on any issue, it is particularly frustrating to see bipartisan support for a bill that furthers Australia’s tech-phobic position in comparison to its international peers.


At a fundamental level, this bill puts Australian startups under a regulatory burden that is unique to them, and limits the level of security that Australian startups can develop. Startups will need to allow for the possibility that Australian law enforcement coerces them to ‘build new capability’ to decrypt communications for law enforcement. Such work will require development time and cost, and while some reimbursement possibilities are included in the bill, startups typically exist with very short cash runways and are put at existential risk when having to conduct significant activity that takes away from core business. In addition, the act of creating the capability to bypass privacy features itself carries with it an inherent risk of compromising users at the hands of cybercriminals and other rogue agents who take advantage of the added security bypasses.


In so doing, Australian startups will be left hamstrung when negotiating to export their digital services, given that in any competitive deal no global company will choose a weakened system provided by a company whose employees can be legally forced to comply with the Australian government, while also being unable to inform management that they are doing so.


International organisations providing similar digital tools will also be subject to these requirements and may simply choose not to operate in Australia – either cutting off Australian consumers from tech products or removing Australia as a destination to house a development team. In Crossroads 2018, released on 6 December, StartupAUS talks at length about the need to encourage international R&D on Australian shores – this legislation serves as a further barrier to that goal.


Finally, the bill circumvented with relative ease by those it is designed to foil. Criminals – in particular high-stakes criminals like the paedophiles or terrorists cited by the proponents of the bill – will be able to use software developed overseas, open source chat applications or operating systems, or even develop their own encrypted chat applications. At the same time, regular law-abiding Australians using software which is subject to compliance will have their security weakened, increasing the risk of cybercriminals, hackers and rogue agents getting access to their data and communications.



ENDS


9 Dec

StartupAUS’ Fifth Crossroads Report: Australia’s next generation of growth companies flourish amidst record capital – despite tech-phobic climate, talent shortages

by launch-admin Dec 9, 2018 0 News

StartupAUS’ Fifth Crossroads Report: Australia’s next generation of growth companies flourish amidst record capital – despite tech-phobic climate, talent shortages


South Australia emerging as a global hot spot for space and defence


Five years after the formation of StartupAUS in 2013, Australia has the fundamentals in place to support a flourishing startup ecosystem, yet significant challenges remain including talent shortages, constrained research and development support, and a cooling attitude toward technology among voters and politicians.


Releasing Crossroads 2018, the comprehensive review of the nation’s startup ecosystem, StartupAUS CEO and lead author Alex McCauley highlighted the milestones that have defined our maturing ecosystem.


“We have seen powerful organic growth over the past half decade – startup formation rates have exploded and new precincts, hubs and programs have emerged to support this.  We have also seen our next generation of world-class, global technology leaders emerge including Aconex, Wisetech Global, Envato and Atlassian along with growth companies Canva, Culture Amp, Airwallex and Afterpay.  Venture capital has risen dramatically, providing unprecedented growth opportunities for Australia’s best and brightest startups.  And at least two billion dollars of extra funding has been directed towards startups and innovation through the National Innovation and Science Agenda and state government innovation funds.


“These successful tech brands have generated thousands of jobs and are producing billions of dollars in new value for our economy.  Despite this unambiguous success, our startup sector faces unprecedented global competition and has started to lose its lustre politically. We need to address those challenges if we want to continue to grow quickly,” Mr McCauley said.


A Challenging Political Climate
Mr McCauley said the innovation portfolio has been affected by numerous leadership changes in recent years and “innovation” no longer had a Federal portfolio minister (whereas it had two in 2016).


Mr McCauley said an apparent tightening of the R&D Tax Incentive scheme for software claimants, combined with a promised ‘crackdown’ on the scheme, had the potential to cripple Australia’s emerging tech sector if left unchecked.


“This is the single most important program any government in the country delivers for startups. It has been a core part of the success we’ve seen in the tech sector over much of the last decade. This is a program that was introduced in 2011 specifically to help software development get the same support as other forms of R&D. It would be hugely damaging to have that slip away.


“Looking to the future, as much as 25 per cent of the Australian economy could be directly impacted by software by 2025. That’s A$524 billion of GDP. This is a watershed moment for Australia. We have a chance to set ourselves up for the economic change that we all know is coming, but right now our R&D spending is below the OECD average and falling. At a time when we really need to be thinking ambitiously about R&D we are tightening the belt. That’s something we urgently need to address.”



Need for Talent
The 2018 Crossroads foreword, contributed by Melanie Perkins CEO and Co-founder of Canva, which became a unicorn this year, reiterates the need for Australia to lure top talent, which goes hand-in-hand with one of the report’s key recommendations to improve Australia’s entrepreneur visa.


“The current political and visa climate in the US puts us in a position to be able to attract the world’s best talent. We should be latching onto this opportunity, seeing it as a great chance to win talent and figuring out what we can possibly do to help attract more. That also means we need to be open to migration as a way to upskill our own local talent through mentoring and exposure to the best and brightest in every field,” Ms Perkins stated.


University of Technology Sydney (UTS) Deputy Vice-Chancellor for Innovation and Enterprise, Professor Glenn Wightwick, said there had been significant growth in both the number and success of student startup founders, demonstrating the university’s commitment to fuelling the ecosystem’s talent pipeline.

“We believe that equipping the Australian startup ecosystem with high-quality entrepreneurial talent is key to maintaining the exciting momentum we’re seeing today,” said Professor Wightwick.

“For example, our UTS Startups program is now home to over 130 startups since its launch in July this year, highlighting the student appetite and enthusiasm for this space. As part of the founder journey, we’ve also made a commitment to reaching 50 per cent of our students with entrepreneurial experiences in the next five years, which includes boosting activity such as bootcamps, startup internships, workshops and competitions.

“As a long-standing supporter and champion of the Australian startup ecosystem, we are also excited about the milestone initiatives this year such as the opening of the Sydney Startup Hub and the plans for a Tech and Innovation precinct in Central Sydney. We acknowledge these advances but also reinforce the calls by StartupAUS for greater consideration to be given to the Federal Innovation portfolio and associated policy initiatives at this critical time for our next generation of Australian companies.”


Sally-Ann Williams, Google’s Engineering Community & Outreach Manager, said startups are integral to boosting the prospects for Australia’s future prosperity. “For Australia to capture some of the enormous value technology will bring in the years ahead, we want to help develop an environment that encourages the creation of successful technology companies – tech startups are a critical part of this picture”, said Mrs Williams.


Venture Fundraising
There is good news on the funding front for later-stage companies. Figures reveal the expanding availability of later-stage capital in recent years, with Series C rounds increasing.  


The availability of venture debt has increased, broadening the types and sources of funds startup founders are able to access. Estimates show Australian venture firms held about $3.3 billion in unspent growth capital in mid-2018, suggesting this availability is likely to remain strong.


“The availability of venture capital is critical for startups to move beyond the fledgling stage and expand whether that be their products, national scope, or reaching out to lucrative international markets,” McCauley said.


South Australia: State in Focus
This year’s Report includes a spotlight on South Australia, highlighting the South Australian government’s investment of more than $400m in Lot Fourteen – a creative and innovation neighbourhood spread over seven hectares in the Adelaide CBD.


Lot Fourteen,  already home to a cluster of companies from fast-growing industries, will blossom into an innovation, incubator, startup and growth hub to give aspiring entrepreneurs the opportunity to collaborate with startup founders, researchers, industry, business mentors, investors and other support services to bring their ideas to market.


“Adelaide has the potential to become a global hotspot and a hub for defence and space startups, and Lot Fourteen is a key factor in helping to attract that global interest,” said Mr McCauley.


Report Recommendations
The 2018 Report makes ten key recommendations to address issues holding the industry back:

Key Sector Statistics and Milestones
Australian venture capital firms raised more than $4 billion in new funds between 2015 to mid-2018. Using various sources of funding, many Australian startups achieved promising milestones in 2018, ranging from major public listings to closing funding rounds, achieving revenue growth targets, and expanding into international markets.


These include:
  • Canva raised $50.9m in January 2018 at a valuation of more than US$1 billion. According to CB Insights, it is the only privately-held tech company in Australia valued at over US$1 billion.
  • Gilmour Space Technologies, a rocket launch provider based in Pimpama, Queensland, raised $19m in September 2018 to push towards launching its first commercial hybrid rocket by 2020. The Series B round was led by Main Sequence Ventures and Blackbird Ventures. Blackbird also led the company’s $5m Series A round in May 2017.
  • Culture Amp, a Melbourne-based employee feedback and analytics platform, raised US$40m ($54.3m) in Series D funding in July 2018, following on from its Series C round of US$20m ($26.4m) in June 2017.
  • Havven, a blockchain startup specialising in decentralised payments, raised US$30m ($38.6m) in its 90-minute initial coin offering (ICO) on 1 March 2018.


The StartupAUS Crossroads Report 2018 is supported by a broad consensus of corporate and community partners, including StartupAUS’ Leadership Partners, Google and UTS, alongside leading investors, scale-ups, and established corporates.


StartupAUS Crossroads is a comprehensive analysis of the startup ecosystem. For more information and the full report visit: www.startupaus.org/crossroads
ENDS






Sophie Hanson
Launch Management Group Pty Ltd
 
office: + 61 2 9492 1003
mobile:            + 61 4 1792 7316
website: www.launchgroup.com.au



30 Oct

Tyro to develop one-stop POS and app integration for SMEs

by launch-admin Oct 30, 2018 0 News


Tyro to develop one-stop POS and app integration for SMEs

Tyro platform to connect customer apps with POS systems and merchants to reduce admin for all

 

Sydney, Australia, 14 May 2018 – Tyro, Australia’s business-only bank, today announced a deal that will see it deliver an API platform designed to remove the complexities and expense of integrating multiple apps and point of sale (POS) systems, by providing a single integration solution.

 

Expanding on its deep experience in payments integration with POS systems, Tyro’s platform will sit at the centre of a network that seamlessly connects POS systems and apps. It will eliminate the need for POS players to build and maintain multiple integrations, and in doing so, they will benefit from significant cost savings, and an increased value proposition to their customers. For small to medium enterprises (SMEs), it will radically simplify how they onboard, manage and switch between the plethora of apps available to businesses and those that are increasingly being demanded by consumers.

 

Initially focusing on the hospitality industry, Tyro has formed partnerships with six leading POS providers in the sector to develop and deliver a much-needed transformation to the connectivity between POS, apps and merchants. Central to the agreements is Tyro’s role as the exclusive app integrator and platform provider for these six POS providers in respect of certain integrations (including but not limited to delivery, ordering, reservation, data and analytics, logistics and workforce management apps). Tyro believes that this innovative ‘one-stop’ solution will encourage other POS providers to sign up alongside foundation partners, Bepoz, Fedelta, Idealpos, OrderMate, Redcat and SwiftPOS. Tyro already has a number of arrangements in place with app providers and is looking to significantly increase this number over the coming months, focusing on those that provide the best experience for merchants and their customers.

 

As it stands today, consumers are ’loving’ the accessibility of order-ahead apps – they can order from anywhere to anywhere at their convenience, receive offers, discounts and loyalty points instantly, and save time. Meanwhile, merchants are weighed down, currently requiring the installation of multiple separate devices and plug-in points in order to service the range of different order-ahead, loyalty and booking apps their customers want to use. This causes clutter and mayhem at the front counter. At the end of the day, reconciliation of the orders generated from each separate app is a labour-intensive chore.

 

Robbie Cooke, CEO of Tyro, said, “Merchants are increasingly interacting with their customers through order-ahead apps, loyalty and rewards apps and bookings apps, amongst others. While customers are loving how easy these apps are to use, the complexity of juggling multiple systems to accommodate different apps and POS systems is an onerous by-product of meeting customer expectations, not to mention the counter space all the devices occupy and the tangle of cables.”

 

“Tyro is uniquely positioned to solve this problem and streamline merchant processes with our POS partners. Currently, we directly integrate with more than 240 POS and PMS systems, more than any other bank in Australia, and we have the in-house technical capability to take a lead creating a broad ecosystem of POS software providers and apps.”


Mr Cooke said the scaling potential for the platform is exciting and far-reaching. Merchants will not need to be payments or banking customers of Tyro to access the connectivity benefits of this initiative.

 

Tyro is diversifying its offering and responding to merchant needs through innovative design and a single-minded focus on delivering a better business experience. The platform will extend Tyro’s offerings outside its existing EFTPOS and banking space.

 

Tyro’s launch into app integration is another indication of its strong commitment to SMEs following the release of its industry-first least-cost routing product, Tap & Save, and the launch of Flexible Settlements, which allows merchants to choose a daily settlement time to suit their business operations.[1]

 

“In time, we intend to extend the platform to offer benefits to retail and health merchants, as well as other uses including staff management, analytics, loyalty, marketing, booking and inventory management. The platform will also enable us to consolidate and deliver insights gathered across multiple applications to help merchants run their businesses,” Mr Cooke added.

 

Tyro plans to bring the platform to the hospitality sector during financial year 2019 and roll out across other sectors shortly thereafter.

 

-ENDS-

 

 

About Tyro

Tyro is an Australian Bank and operates under the supervision of the Australian Prudential Regulation Authority (APRA).

 

Tyro provides credit, debit and eftpos card acquiring, Medicare and private health fund claiming and rebating services, as well as an interest bearing transaction and deposit account offering integration with Xero cloud accounting. Tyro takes money on deposit and offers unsecured cash-flow based lending to Australian EFTPOS merchants.

 

Tyro currently serves more than 22,000 customers with its own in-house, cloud-based mobile core banking platform.

 

For more information, visit tyro.com.

 

Media Contact

Christine Kardashian

Launch Group

02 9492 1000 | 0416 005 703

christine@launchgroup.com.au

 



[1] Applies to Tyro settled funds only – excludes HealthPoint and funds settled directly by Afterpay, American Express, JCB and Diners. Xenta or Xentissimo model terminals may need to be restarted to update the new flexible settlement time or manually updated via the terminal menu.

30 Oct

David Thodey AO to join the Tyro Payments Board

by launch-admin Oct 30, 2018 0 News

David Thodey AO to join the Tyro Payments Board

 

Sydney, Australia, 25 October 2018 – Tyro, Australia’s fast-growing business bank, today announced that David Thodey AO has accepted an invitation to join its Board as a non-executive director with the appointment to take effect in November 2018. In announcing the appointment Tyro’s Chairman Mr Kerry Roxburgh said:

“It is with great pleasure that I announce David Thodey is joining Tyro as a non-executive director. David’s extensive management, leadership and technology experience makes him a welcome addition to our Board. I am looking forward to David joining us in November and having the benefit of his expertise as we chart Tyro’s future course”.

Mr Thodey is a global technology and telecommunications executive with more than 30 years of experience – 25 of those in Asia. He has a track record of creating brand and shareholder value and has been successfully involved in innovation across a wide range of sectors. Mr Thodey was the CEO of Telstra (2009 to 2015) and prior to that had a 22-year career with IBM, working in senior marketing and sales positions, including CEO of IBM Australia/New Zealand.

He is currently Chairman of CSIRO and Director of Ramsay Health Care and Jobs for NSW. He is active in the venture capital industry as an advisor to Square Peg Capital and holds Board positions with several private companies. Mr Thodey is also Chairman, NSW Quantum Computing Fund, a member of the Advisory Board of United Healthcare and is on the Investment Committee of Evans & Partners Global Disruption Fund that listed on the ASX in August 2017.

Mr Thodey has a Bachelor of Arts degree in English and Anthropology, from Victoria University in New Zealand, and completed post-graduate studies at Northwestern University’s Kellogg School of Business in Chicago, Illinois. He was awarded an Honorary Doctorate in Science and Technology from Deakin University in 2016 and was awarded an Order of Australia in 2017 for integrity and leadership in business.

For more information contact:

Media enquiries: Lisa Vitaris – 0408 692 340
Investor enquiries: Robbie Cooke – contact Carolyn Prendergast on 0409 910 561

 

30 Oct

New market-leading features from Tyro supporting SMEs

by launch-admin Oct 30, 2018 0 News


New market-leading features from Tyro supporting SMEs

Flexible Same-Day Settlement allows faster access to funds and Xero payroll integration offers time-saving benefits

 

Sydney, Australia, 3 September 2018Tyro, Australia’s business-only bank, announced two major advancements to its EFTPOS and Bank Account offerings – Flexible Same-Day Settlement and payroll integration through Xero accounting software. These innovations have been developed from an understanding of the real-world environment small to medium enterprises (SMEs) operate in and reinforces Tyro’s market position as the leading business bank for SMEs.

 

A key pain point for merchants is the time it takes to access their funds, particularly for businesses that close late (e.g. hospitality) or trade on weekends (e.g. retail). Tyro recognises end of day trading times for merchants vary from business to business and in response to this, Tyro has further enhanced its EFTPOS solution introducing Flexible Same-Day Settlement to benefit Australian businesses, especially SMEs. Flexible Same-Day Settlement enables Tyro merchants to receive Tyro EFTPOS settled funds into their Tyro Bank Account at a time they choose between 8.00pm to 5.00am AEST, seven days a week (including public holidays).

 

With Flexible Same-Day Settlement, merchants are able to better manage reconciliations, as well as cashflow and operations. It helps to ensure a more accurate and consistent reconciliation process as merchants choose when their day ends rather than payments being split over a number of days. For example, hospitality merchants that may close as late as 1.00am can receive their funds in one lump sum at the end of their trading day. Other financial institutions may have a cut off time of 9.00pm which may see the merchant receiving some funds before 9.00pm and any sales incurred after this time may be received the following day, further complicating payment reconciliation. On the other hand, choosing Flexible Same-Day Settlement with Tyro, retailers can get paid as early as 8.00pm instead of having to wait for a prescribed payment time.

 

In addition to Flexible Same-Day Settlement, Tyro has introduced an integrated payroll solution with Xero. Tyro has eliminated the extra step of having to separately process payroll by allowing merchants to input pay runs through Xero, which is linked to their Tyro Smart Account – saving merchants time without having to download and upload ABA files anymore. Within a week of launching, there was a 20 per cent take up with current Tyro customers who are also existing Xero customers. The popularity of this feature aligns with feedback received from SMEs so far who are experiencing the time-saving benefits of the Xero payroll integration, by providing accounting and banking reconciliation as well as delegating user authorities for approvals i.e. accountants are able to process the payment in Xero and the business owner is then able to approve the payment in the Tyro app.

 

Robbie Cooke, CEO at Tyro, said, “We understand for some SMEs, cashflow is always crucial and getting access to funds is essential for everyday business, whether it is paying staff and invoices, using cash to run the business or investing back into the business. Flexible Same-Day Settlement gives Tyro merchants the ability to receive their funds daily, and the integration with Xero payroll increases efficiency, so SMEs can tailor their own cashflow and payments, reinvest into their business and run a smoother operation.”

 

Flexible Same-Day Settlement and Xero payroll are also integrated into the Tyro mobile app, giving Tyro customers full control of their banking in the palm of their hands. Merchants can track daily EFTPOS sales and see what is settling into their Tyro Smart Account. Using Xero payroll integration, they can also post pay runs directly from Xero without the need to download/upload an ABA file and approve them using the app – pay run transactions are then made from their Tyro Smart Account and fed back to Xero for reconciliation.

 

 

 

Tyro’s highly developed in-house engineering capability places it at the forefront of banking and payment innovation. As the only Australian bank completely dedicated to business banking, Tyro strongly supports SMEs by designing innovative products and a better experience for customers, so they can succeed. The company recently unveiled industry-first innovations such as the launch of its award-winning least-cost routing product, Tap & Save, a new deal that will see Tyro develop a one-stop point of sale (POS) and app integration for merchants, and a new agreement with Alipay that sees Tyro being the first Australian bank to integrate with Alipay. These initiatives demonstrate Tyro’s commitment to consistently updating its offerings to meet the needs of Australia’s SMEs.

 

-ENDS-

 

 

About Tyro

Tyro is an Australian bank and operates under the supervision of the Australian Prudential Regulation Authority (APRA).

 

Tyro provides credit, debit and EFTPOS card acquiring, Medicare and private health fund claiming and rebating services, as well as an interest-bearing transaction and deposit account offering integration with Xero accounting software. Tyro takes money on deposit and offers unsecured cashflow-based lending to Tyro EFTPOS merchants.

 

Tyro currently serves more than 20,000 businesses with its own in-house, cloud-based mobile core banking platform.

 

For more information, visit tyro.com.

 

Media Contact

Christine Kardashian

Launch Group

02 9492 1000 | 0416 005 703

christine@launchgroup.com.au

 

30 Oct

Businesses can now receive instant payments with Beem It for Business

by launch-admin Oct 30, 2018 0 News


Businesses can now receive instant payments with Beem It for Business

Instant transaction-free payments via Beem It set to be a game changer for small business operators

 

Sydney, Australia, 26 October 2018 – Instant payment app Beem It, today announced the launch of Beem It for Business, an innovative payment solution aimed at switched-on Australian micro and small businesses and savvy millennials with a side hustle, of which 1 in 3 have outside their normal job, according to triple j’s What’s Up In Your World survey[1].

 

A key pain point for the self-employed and independent contractors, as well as the 2.5 million casual workers in the booming gig economy[2], is the time it takes for them to access their funds. Beem It for Business facilitates instant payments for these operators using a smartphone and eliminates delays between financial institutions and cashless customers, with no set-up, subscription or transaction fees up to $10,000 per month.

 

Beem It for Business offers three ways to get paid:

 

1.     Printable QR codes allow businesses to create a unique code that lets customers scan and pay for goods and services via their smartphone, eliminating the need for cash or cards.

2.     Requests with customer payment reminders enable businesses to send their customers a request for payment including text message style prompts to those yet to pay, making it a practical solution for businesses that require upfront payment and for busy operators to keep track of who has / has not paid.

3.     Unique business usernames allow businesses to get paid in person instantly via a unique username, without the need for sharing lengthy bank details that can result in non-payment due to errors when keying in BSB and account numbers.

 

Angela Clark, CEO of Beem It said, “Our goal is to make money moments better through innovative easy-to-use technology. Beem It for Business now means that anyone – whether you’re a barber, babysitter, tradie or market seller – can receive payments for goods and services instantly, regardless of who they bank with.

 

“We understand cashflow for micro and small businesses, especially for self-employed and independent contractors, is essential for their business operations as well as income and living expenses. Beem It for Business helps to ensure prompt payments without the added stress of asking, waiting or chasing money and we are excited to provide this simple solution so that small businesses can grow and prosper.”

 

Hair stylist Henry ‘Chris’ Bello set up The Groom’s Man Styling 18 months ago, having spotted a gap in the market for a roaming barber service. Henry credits Beem It for accelerating payments while on the go.

 

“The nature of my business means I see clients wherever I can take my tools, so I need my banking services to travel with me. Many of them are time-poor professionals who need a trim in between meetings so Beem It allows me to fast-track payments. They can just scan the QR code and go, or I can send them a request, and because payments are instant, it’s the same as having the cash in my pocket.”

 

Beem It launched in Australia in May 2018, with the mission of making money moments better.

 

 

 

For more information on Beem It for Business, please visit www.beemit.com.au/business

 

-ENDS-

 

 

About Beem It

The Beem It app is a free service and provides instant and P2P payments, processed direct to users bank accounts. The intuitive interface links to smartphone contacts allowing customers to send, request or split payments in a few taps, with no BSB, account details or PayID required.

 

Beem It is available to all Australians with a valid Mastercard or Visa Debit Card, regardless of who they bank with. Backed by three of Australia’s largest banks, users are supported by rigorous security, encryption, identity and fraud protection measures.

 

Users appreciate the simplicity and convenience of Beem It, which is one of the highest-ranked financial apps in both the App Store for iOS and Google Play for Android, with more than a 4.5 star rating. Beem It has also recently released a printable QR code to make it easier for small businesses to accept Beem It payments.

 

The Beem It platform powers the growing feature set within the Beem It app experience and will also enable Beem It payment experiences to be embedded in other digital services to support future partnerships and services as part of Beem It’s vision to build an open Australian digital wallet.

 

Digital Wallet Pty Ltd (trading as Beem It) is a joint venture of National Australia Bank, Westpac and Commonwealth Bank.

 

For more information, please visit www.beemit.com.au.

 

Media Contact

Christine Kardashian

Launch Group

02 9492 1000 | 0416 005 703

christine@launchgroup.com.au