Young Aussie Startups Are Coming For Legacy Businesses

Young Aussie Startups Are Coming For Legacy Businesses

With Prime Minister Malcom Turnbull’s innovation statement at the top of the Federal Government’s agenda, startups at the forefront of innovation are gaining more support, and are in a better position than ever to disrupt traditional business models.

The inability to keep up with innovation is evident amongst big brands, with the 2015 IBM CMO report revealing 82 per cent of CMOs feel they’re underprepared to deal with the explosion of data, up 11 per cent from 2011.

However, the report also shows that while many CMOs feel they are underprepared, 74 per cent intend to seek broader partnerships in the future to help them achieve their marketing goals and keep on top of innovation.

Marc Cowper (pictured above), founder of Sydney-based customer advocacy startup Recomazing, said it’s a great time for Australian startups.

“With Malcom Turnbull’s innovation revolution now in full swing, the stereotypical fledgling Aussie startup industry is now backed by government support, making them more powerful and in an even better position to disrupt traditional business models.

“On top of this, we have seen a trend both internationally and locally where agencies and big brands are creating new roles or entire departments around innovation to ensure they’re collaborating with startups.

“WPP’s MEC UK has recently launched MEC Tonic a new division delivering tech-first solutions to clients by partnering with start-ups and we expect to see the more advanced local agencies roll out the same model”, he said.

This year Australia’s largest tech start-up space, Fishburners, has seen a rapid increase in the number of corporate brands sponsor the space. The latest sponsor NAB recently collaborated with startups by hosting a fin-tech hackathon to tap into startup mentality when approaching financial business challenges.

Recomazing’s founder says it’s no coincidence more brands are looking to partner with startups and demand has never been higher with Recomazing recently raising $660,000 capital to grow their business.

“We have seen brands and their agencies showing a real appetite for collaboration with Recomazing and our globally unique customer experience insights – it is the reason we have been able to partner with industry leaders such as Virgin Mobile and Open Colleges.

“Startups are at the forefront of emerging technology and provide a cost effective solution to any brand wanting to infuse valuable innovation into their business to increase ROI”, he said.

The innovation statement is looking to increase funding for startups through investor tax concessions; entice startup talent to work in Australia by amending visa legislation, and assist startups with international expansion with five ‘launch pads’ setup across the globe.




Latest News

Slew Of New Promotions & Hires As Thrive Announces Melbourne Leadership Team
  • Marketing

Slew Of New Promotions & Hires As Thrive Announces Melbourne Leadership Team

Thrive PR Melbourne has kicked off the year with new appointments, promotions and a new leadership team, marking the delivery of a transformation strategy that’s seen the agency diversify and strengthen its corporate, consumer and integrated digital service offering in Victoria. Lead image:  (L-R) – Sophie Maguire, Melanie Campbell, Nathan McGregor, Zoe Raknes, Erika Rutledge, […]

Leos Appoints Clare Pickens As CEO
  • Advertising

Leos Appoints Clare Pickens As CEO

Reports of Pickens demanding new corner office with wingback chair greatly exaggerated, says Publicis PR team.

Russel Howcroft & Freddie Young Headline AdMission Podcast
  • Advertising

Russel Howcroft & Freddie Young Headline AdMission Podcast

Iconic Australian ad guru Russel Howcroft and industry up-and-comer Freddie Young from Good One Creative have today launched their experimental, no spin advertising podcast, AdMission, in partnership with 9Podcasts. AdMission tells the uncensored stories behind the world’s most talked about brands, ideas, campaigns, advertising news and industry screw ups, as well as offering sharp insight […]

CPR First Aid Study: Weight Loss & Healthy Eating Among Most Googled Personal Goals
  • Marketing

CPR First Aid Study: Weight Loss & Healthy Eating Among Most Googled Personal Goals

According to a new study from CPR First Aid has revealed that Aussies’ most Googled personal goal in the summer is losing weight, new research has found. Their next most researched summer objective is healthy eating, followed by drinking more water. This time of the year, Aussies want to stop snoring and quit smoking more […]

Twilio: Customer Data Platforms Are “Critical Foundation” For AI-Driven Customer Insights
  • Technology

Twilio: Customer Data Platforms Are “Critical Foundation” For AI-Driven Customer Insights

Businesses are integrating customer data platforms with AI and analytics to personalise customer experiences and drive business success, according to a new report from Twilio Segment. Lead image: Kathryn Murphy, SVP of product and design, Twilio. The fifth annual Customer Data Platform Report, which reflects the findings of anonymised usage data from Twilio Segment’s more […]

Word of Mouth Digital Welcomes Six New Brands To Its Growing Portfolio
  • Marketing

Word of Mouth Digital Welcomes Six New Brands To Its Growing Portfolio

Word of Mouth Digital, a Sydney-based full-service digital marketing agency, has announced the addition of six diverse brands to its expanding client portfolio. Lead image: Alex and Tash Williams These new partnerships span various sectors, including pet care, cognitive health, home construction, wellness, and retail, showcasing the agency’s commitment to fostering growth through strategic collaboration […]