Labor will unveil a $1 billion warchest to invest in innovative Australian technologies operating in areas deemed critical for the future of the country and economy, such as artificial intelligence, quantum computing, robotics and software development.
The new source of potential funding will be welcomed by entrepreneurs in the previously booming local tech scene, who have begun casting a nervous eye towards the US, where a sell-off in tech-related stocks has precipitated a tightening of the venture capital funding market.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
