The Times Australia
Small Business News

.

Startups: The key to unlocking Australia’s productivity potential

  • Written by Chris Kirk, Stone & Chalk CEO

Australia is in the midst of a productivity crisis. Despite the promise of technological advancement, our nation is lagging behind the global average by a significant margin. While international competitors are thriving, Australia’s economic growth has stalled.

Why? The answer lies in a complex interplay of factors. As Assistant Minister Andrew Leigh has highlighted, declining job-switching rates, a dwindling startup ecosystem, and the dominance of large corporations have contributed to a less competitive landscape.

The crux of the problem is a lack of innovation. Businesses are hesitant to invest in new ideas due to financial constraints and a lack of competitive pressure. This is where technology startups can be a game-changer.

The Tech Council of Australia’s projections are promising: technology startups could generate tens of thousands of jobs and billions in economic value by 2030. These companies have the potential to disrupt industries, create new markets and drive productivity growth.

Supporting our next generation of startups 

Australia’s productivity puzzle is complex, but the solutions may lie within its startup ecosystem. At Stone & Chalk, we believe that nurturing our startup ecosystem is essential to Australia’s economic future. Our Future Technology Program, in partnership with KPMG Australia, provides startups with the support they need to thrive. Through mentorship, residency and access to industry experts, we aim to accelerate the growth of innovative companies.

Previous cohorts have explored topic areas including supply chains, space and workforce solutions. We've supported over 15 startups - including Arlula, a pioneering earth observation data management platform; Zondii, which offers real-time smartphone verification for the food and fibre industry; and Crewmojo, an innovative collaborative performance management platform. These success stories underscore the program’s track record in nurturing high-potential startups that are reshaping various sectors of the Australian economy.

Our latest cohort, focused on performance intelligence, includes Heatseeker, Bluesheets, Klaro, Swyvl and Insightech. With a stark 2% decline in productivity since 1995, Australian businesses are under immense pressure to streamline operations and increase efficiency. These startups, selected from a highly competitive pool of 60 applicants, are offering a fresh perspective. 

From Heatseeker’s rapid market insights to Bluesheets’ financial automation, these innovative companies are equipping businesses with the tools to make faster, data-driven decisions. Klaro and Insightech are democratising data analysis, empowering more employees to contribute to strategic thinking. Meanwhile, Swyvl is transforming how we interact with spatial data, unlocking new opportunities for growth. Collectively, these startups are not just enhancing efficiency, but are laying the groundwork for a more competitive and prosperous Australian economy.

Their solutions, powered by cutting-edge technologies like AI, IoT, and robotics, have the potential to revolutionise how businesses operate. They are more than just businesses; they are catalysts for change. By empowering them, we are investing in Australia’s future economic prosperity.

Property Times

Top Tips for Finding the Ideal Block to Build Your Home

There’s something deeply personal and exciting about building your own home. You’re not just choosing paint colours or furniture, you’re creating a space that reflects your lifestyle, your dreams, and your future. However, before you start sketchin...

The Home Buying Process Explained Step by Step

Buying a home is a thrilling milestone, but it can also feel like navigating a maze without a map. With paperwork, finances, and decisions at every turn, understanding the home-buying process is crucial for success. Whether you're a first-time buye...

Thinking of Selling Your Home? Here’s What You Need to Know

Selling a home is more than just putting up a “For Sale” sign. It’s a strategic process that involves preparation, pricing, and negotiation - all aimed at getting the best value for your property. Let’s go through the most important steps to take b...

Smart Ways to Earn Passive Income from Real Estate

Imagine making money without doing much work. You get paid even while you sleep, travel, or do fun things. This is called passive income. Indeed, real estate has great ways to do this. You don't have to be a landlord all day; similarly, you don't h...

Food & Dining

Onsite Caterer vs a Full Service Venue: 9 important things to explore

Choosing between an external catering company and an all-inclusive venue is a major decision that affects cost, flexibility, food quality, and the overall event experience. Venues with in-house catering offer convenience and streamlined coordinatio...

Meal Prep as Self-Care? The One Small Habit That Could Improve Your Mood, Focus & Confidence

What if the secret to feeling calmer, more focused, and emotionally resilient wasn’t found in a supplement or self-help book — but in your fridge? That’s the surprising link uncovered by leading dietitians Anna Debenham and Alex Parker from The Biti...

Cult Favourite, TokyoTaco, Opens Beachfront at Mooloolaba this June

FREE Tokyo Tacos to Celebrate!  Cult favourite Japanese-Mexican restaurant TokyoTaco is opening a beachfront venue at the Mooloolaba Esplanade on Queensland’s Sunshine Coast this June.  The doors of the new venue will open on 18 June and to cel...

International lager claims crown as Australia’s most preferred beer

Launching its inaugural ‘Brand Map of Australia’, Tracksuit reveals Corona as the nation’s most preferred beer  Sydney, Thursday, 29 May 2025 - From iconic mass-produced lagers to innovative craft brews, beer is woven into the fabric of Australi...

Business Times

Agentforce for Financial Services: Merging AI and Human Expertise…

In this rapidly evolving world of financial services, deploying customer experiences that are personalized and intelligen...

Samsara Eco and lululemon announce 10 year partnership

lululemon and Samsara Eco Announce 10-Year Plan to Advance Recycled Material Portfolio Plan will see lululemon source a...

Barelli Bathrooms announces celebrity interior designer Kellie Ri…

Barelli Bathrooms, a leading name in contemporary bathroom accessories and design, is proud to announce its new national ...

The Times Features

How to Tell If Your Eyes Are Working Harder Than They Should Be

Image by freepik Most of us take our vision for granted—until it starts to let us down. Whether it's squinting at your phone, rubbing your eyes at the end of the day, or feeling ...

Ways to Attract Tenants in a Competitive Rental Market

In the kind of rental market we’ve got now, standing out is half the battle. The other half? Actually getting someone to sign that lease. With interest rates doing backflips and ...

Top Tips for Finding the Ideal Block to Build Your Home

There’s something deeply personal and exciting about building your own home. You’re not just choosing paint colours or furniture, you’re creating a space that reflects your lifes...

The Home Buying Process Explained Step by Step

Buying a home is a thrilling milestone, but it can also feel like navigating a maze without a map. With paperwork, finances, and decisions at every turn, understanding the home-b...

Thinking of Selling Your Home? Here’s What You Need to Know

Selling a home is more than just putting up a “For Sale” sign. It’s a strategic process that involves preparation, pricing, and negotiation - all aimed at getting the best value ...

Smart Ways to Earn Passive Income from Real Estate

Imagine making money without doing much work. You get paid even while you sleep, travel, or do fun things. This is called passive income. Indeed, real estate has great ways to do...