From development to design, from fintech to even ‘lawtech,’ Australia is seeing growth across the country that is having a global impact
Due to recent developments regarding the crowdfunding legislation changes, as well as tax breaks aimed at start-up investors, Australia has become a home for a number of interesting start-ups. This is a part of the larger initiative to transform Australia into a powerhouse of innovation. The initiative is designed to help launch, grow and maintain local start-ups, making them attractive for outside investors.
That said, here are just 10 of the most promising companies which have already shown remarkable growth in a very short period of time and that you need to keep track of:
In late 2015, Canva managed to raise $21 million and surpass the 5 million users mark. Since then, the company has launched their own platform in six different languages, all in an effort to make graphic design easy and approachable for everyone. Today, over 10 million people are using Canva to produce high-quality designs and professional-looking graphics. Individuals can use Canva to edit their photos by adding various frames, borders, and text and it even offers dedicated fonts and images you can use to further better your design.
2. Divvy Parking
Founded by Nick Austin, Divvy Parking is an online parking system aimed at challenging commercial parking operators. It allows both individuals and companies to market their normally under-utilized parking spaces in order to provide everyone with a dedicated parking space. With Divvy Parking, commuters have access to both long and short term parking for just a fraction of a price they would normally pay to use a traditional car park. Currently, the company is partnered with large developers such as GPT Group, Dexus, and Knight Frank.
Envato is one the most successful Australian start-up companies, with over 5.5 million satisfied customers and developers and over $50 million in yearly revenue. Unfortunately, rarely do we hear of it outside of the start-up and web development communities. This comes as a no surprise once you learn that Envato has created an entire marketplace for various digital assets and services such as 3D models, graphics, stock multimedia, web designs, templates and WordPress themes. The website also provides a very informative blog which features some rather interesting discussions people should go over, even if they don’t use Envato’s services.
Go1 is a company which offers a system for learning management. It is mostly used by companies to offer their employees training courses. Go1 offers various different courses intended for company compliance, staff training and even personal enrichment practices, all in a format which is friendly for mobile devices and tablets. The courses themselves aren’t fixed. What this means is that companies have the opportunity to use one of Go1’s existing courses or to upload one of their own and convert their documents into a more user-friendly format.
Invoice2go is a dual headquarters tech company which operates in Redwood City, California, US and Sydney, Australia. It is primarily used as an invoice app for businesses. Features offered by Invoice2go include a simple, easy-to-use invoicing system, expense tracking and various tools for reporting. It is a cloud-based platform, which allows business owners to execute all finance-related tasks using a mobile device. Currently, it has over 200,000 different businesses sending over 1 million invoices per month.
LawPath has quickly become one of Australia’s largest online legal services. They provide numerous standardized legal documents used in common transactions. The company has hundreds of layers available to help create a fully customized solution, no matter what legal problem you might have. LawPath has partnered with over 250 different law firms based in Australia in order to provide their services to all small-to-medium sized businesses. You can either make a one-time purchase for a single use or you can opt-in for a full subscription and be provided with free legal quotes and a full range of legal documents.
Launched by Cousins David Fastuca and Ross Fastuca, Locomote is an expenses and travel platform created to simplify the approval and booking process for corporate business travelers. Using a single gateway. Travelers can access the platform no matter where they are located around the world and use the greatly simplified process to reduce their booking, approvals and other various travel expenses. The company has gained major traction in 2015 and has since doubled in size. Currently, it has partnered with companies such as ANZ, Allen and Overy, Medibank and Word Vision.
Pocketbook is an app used for budget planning and automatic categorization of transactions. This is achieved by creating an extremely easy-to-use interface for budget planning, tax returns, and tax and pay calculator, which is backed by official ATO rules and tables. What makes Pocketbook stand out from the crowd of similar apps is its ability to sync with almost all banks based in Australia in order to provide you with a regularly updated feed of financial information. You can even use it to manage bills and track expenses.
9. The Right Fit
The Right Fit is a company which has easily managed to become a part of Australia’s Top 50 influencer awards. It is primarily used as an employment agency mostly focused on creative industries. Matching acting, dancing, modeling and photography professionals with the different companies that are in need of said professionals has never become easier with The Right Fit. The company owns and maintains one of the largest databases of various professionals companies can search through in order to find just the right employee.
Shippit was founded to help retail businesses simplify their shipping orders. It is a cloud-based platform which has already partnered with hundreds of different retailers across the country. Shippit makes the shipping process a lot simpler for merchants by allowing them to offer more flexibility and delivery options and for consumers by providing them with additional information regarding the shipping and delivery of their package. Currently, Shippit has over 300 merchants and has partnered with Australia Post, Mail Call Courier and TNT.
These are just some of the start-ups currently operating in Australia and looking at the current climate, it’s safe to say we’ll witness a lot more being created in the following years. Have in mind that these recommendations are not intended as a financial-type advice. This is merely a list of the startups you should know about, not a worksheet for investors.