Latest News

Back to Latest News back

 

Leisure industry to take advantage of $1 billion for Australian start-ups?

Leisure industry to take advantage of $1 billion for Australian start-ups?
February 23, 2016

With the Federal Government hoping to boost technology-based business start-ups with a $1 billion fund to back home-grown innovations and turn them into commercial successes, can businesses in the leisure industry benefit?

Announced at the end of last year, the new National Innovation and Science Agenda will support new business, R&D and innovation with $1.1 billion of funding, tax breaks and schemes to assist commercial partnerships.

Australain Prime Minister Malcolm Turnbull announced the National Innovation and Science Agenda with Innovation Minister Christopher Pyne stating "this will drive substantial new investment."

Minister Pyne added "the release of the Agenda is just the beginning.

"The next step will be a national discussion around this new way of thinking and doing, and the importance of innovation and science to our future."

Financial analyst Ivor Ries, of Morgan’s stockbroking firm, welcomed the announcement, describing it as a “great program”.

Ries has previously warned that the lack of investment in start-up businesses could be risking Australia’s economic future, and noted that 20 times more money was spent on subsidising negatively geared property, which did not create jobs.

While the new measures were not as generous as those offered in the United States, Ries suggested it would certainly going to increase the flow of funds to new businesses.

Initiatives such as the tax offset and capital gains exemption would attract money from wealthier people but new crowd-funding measures would also give ordinary Australians a chance to invest.

Until now crowdsourcing has been a legal “grey area”, Ries said, as businesses wanting to raise money from more than 20 people and issue shares, have to register a prospectus with ASIC.

The new measures mean that genuine start-ups with turnover and gross assets of less than $5 million will be able to raise up to $5 million from individuals. However, contributions must be less than $10,000 per person.

Ries stated “I think it’s a great initiative ... and will appeal to the man in the street who can put a couple of hundred dollars in.

"These people are really shut-out of funding businesses at the moment.”

Australasian Leisure Management Publisher Nigel Benton sees that innovators in the leisure industry can take advantage of the program.

Benton cites a range of industry innovations in recent years, including "fitness sharing platforms, sport performance technology, event management systems and security products that have come out of the leisure industry and gone on to be successful in international markets."

He adds, "since European settlement Australia has been a ‘start-up’ country, a land of innovation with Australians a 'have a go’ kind of people."

Scientific advances by Australian companies have contributed $330 billion a year to Australia’s economic output over the past 30 years – a quarter of all economic activity.

Sydney-based accountants and financial advisors HLB Mann Judd will this week be staging a free seminar focusing on the Innovation agenda.

The seminar, being held at HLB Mann Judd's Kent Street, Sydney offices will be addressed by Peter Strong, Chief Executive of the Council of Small Businesses of Australia (COSBOA) who will address what grants and funds are now available to small business ownersand how to access them.

The seminar is being held from 4.30pm to 7pm Thursday 25th February at HLB Mann Judd - Level 19, 207 Kent Street, Sydney NSW 2000.

For more information on the National Innovation and Science Agenda go to www.innovation.gov.au/page/agenda

Click here for more information on and/or to register for the HLB Mann Judd seminar.

19th December 2015 - $95 MILLION FUNDING BOOST FOR REGIONAL TOURISM

23rd November 2015 - DUAL AWARD WINS FOR SPORTS APPAREL BRAND ONTHEGO SPORTS

21st September 2015 - PRIME MINISTER TURNBULL LINKS ARTS AND COMMUNICATIONS AND RESTORES TOURISM MINISTER IN NEW MINISTRY

30th June 2014 - SPORTS TECH BUSINESSES GET A HEADSTART INTO $300 BILLION MARKET


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

MYRTHA POOLS

Founded in 1961, Myrtha Pools® quickly became Italy’s première swimming pool company, and has since grown into one of the world's leading swimming pool construction…

read more

Aquatics / Design / Play / Waterparks / Wellness

 
 

Sportybots

We are the leading providers of kids fun multi-sports programs for Sport and Recreation Centres. Programs cover twelve common sports as well as Gross Motor Skill Development and suit children from as…

read more

Fitness / Play / Recreation / Sport / Wellness

 
 

Augmented Creative

Augmented Creative is an open organization of like-minded and highly dedicated, creative people who conceive, plan and execute visual solutions. We pursue new and innovative visual ideas to help…

read more

Arts / Attractions / Consultants / Design / Tourism

 
 

TouchCloud Global

Activating skyscapes for tourism, art, leisure and living TouchCloud Global (TCg) is a highly specialised international consultancy, broker and principal, devoted solely to activating and energising…

read more

Attractions / Consultants / Recreation / Safety / Tourism

 
 

Mattioli

Mattioli provides award winning painting, flooring and waterproofing services to the aquatics and recreation sector. We’re recognised as the leading contractor in the industry with award-winning…

read more

Aquatics / Recreation / Safety

 
 

DEBITSUCCESS

Over the past 10 years Debitsuccess has been providing expert billing services to businesses across Australia. Debitsuccess is now the largest full service direct debit provider in Australasia,…

read more

Billing / Finance / Fitness / Golf / Recreation

 
 

TRISLEYS HYDRAULIC SERVICES

Trisley's Hydraulic Services P/L (THS) are a specialised pool company dealing with all aspects of the commercial swimming pool industry, including the installation and servicing from the smallest…

read more

Aquatics / Design / Play / Waterparks

 
 

SICO SOUTH PACIFIC

SICO is at the forefront in innovative mobile folding and rolling, space efficient tables, stages, dance floors and many other products which help our customers optimise their use of space. Image…

read more

Entertainment / Events / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business