We’re already 2 months into 2018 and WA’s tech industry is off to a flying start.
Thanks again to everyone who joined us at West Tech Assemblage 2017, capping off a great year of WA business with style and optimism. Everyone left the evening with more friends and fuller bellies than they arrived with. The possibilities for future collaborative projects were multiplied, and recently formed relationships have already bloomed into novel business ideas that will contribute to the growth of our burgeoning sector.
Footage from our successful 2017 event can be viewed below or by clicking here.
An increase in funding levels across Australia over the course of 2017 has helped kick-start growth in Western Australia, only time will tell if this growth is sustainable in the long-term.
We asked Techboard co-founder Peter van Bruchem to share his thoughts on the how he expects 2018 might unfold in WA’s tech scene.
“Western Australia does lack much of the infrastructure and Corporate and Government support that is much more present in states such as NSW, Victoria and Queensland, and that is holding the sector in WA back from achieving more.
In particular there appears to be a lack of available early stage capital in Perth and a lack of connection between the startup ecosystem and capital providers. We also still have no active Venture Capitalists in WA, with no sign of the VC funds from over east placing their money locally.
These factors do make it harder for many companies to get the funds they need to get started and grow,” Peter said.
What’s your impression on the start to 2018 in WA’s tech scene?
Given the season 2018 so far has seen a reasonable level of reported activity from Perth Start-ups and Young Tech companies, both from listed young tech companies and unlisted startups as well.
What’s been the biggest tech business deal/news in WA so far in 2018?
“We have started the year with some big news. BitCar has raised $8M AUD in its token pre-sale and Building Tech company Pro9 global raising $8M. In terms of big deals Wavetech company Bombora announcing the opening of a plant in Pembroke, UK, and Quizjam launched a new web-based, complete engagement platform with Seven West Media.”
Do you feel we’ve come out the other side of the tunnel in terms of the recent general downturn?
“I am unsure the general economic downturn has impacted startups and young tech companies that much, but it is difficult to say. I don’t think we have observed any obvious downwards trend with investment levels, but we are yet to do a longer-term analysis of our numbers. In general terms, there seems to have been an increase in funding levels across Australia over the course of 2017. But Investment levels don’t tell the full picture. ”
It is our hope that the spirit of innovation and collaboration which has brought West Tech Assemblage together will continue to inspire Corporate and Government support for the Western Australian tech community in 2018.
Here’s to a new year full of novel ideas, fresh collaborations and lasting business relationships.
More positive updates across WA’s tech industry
Despite recent economic downturn, the startup acceleration of 2017 is showing no signs of slowing in 2018, with Perth Wavetech company, Bombora, announcing the opening of a new plant in Pembroke, UK.
Bombora has established its European operations in Pembrokeshire, Wales, because of the dynamic wave and tidal energy of the region. Bombora produces environmentally friendly and cost competitive energy for commercial scale energy needs in coastal locations throughout the world.
For further reading about Bombora click here.
Building tech company Pro9 Global has secured an $8M capital raise to build a manufacturing plant in Australia. Pro9’s revolutionary building systems are leading the world in modular construction for energy efficient buildings.
“Pro9 Global is seeking to be a world leader in the precision manufacture of smart building systems for better living. We need to ramp up capacity to meet demand, which is a good position to be in,” said Managing Director Daniel Jukic.
For further reading about Pro9 click here.
For further information regarding Western Australian Accelerating Commercialisation grants, visit Charlie Gunningham’s recent article at Startup News.