Michael Twomey back in business less than three months after SOOW crashed with more than $2.3 million in debts

The co-founder of a failed tech start-up is back in business less than three months after his last venture crashed owing millions of dollars to creditors, including the Brisbane Lions.

BACK IN BUSINESS

The co-founder of a failed Brisbane tech start-up is back in business less than three months after his last venture crashed with more than $2.3 million in debts.

Michael Twomey launched Data Fund Pty Ltd, trading as SOOW, with a splash at last year’s Myriad Festival and talked up its “customer data platform’’ software package for companies.

He even snared a deal to become a co-major sponsor of the Brisbane Lions in a two-year contract valued at about $2 million.

But the Lions ended up joining the long line of creditors who got nothing back after liquidators seized control of Data Fund in April. The team never collected a cent of their sponsorship money and say they are owed $770,000.

Ely Smith wearing a SOOW-sponsored Brisbane Lions top in November 2018. Picture: AAP Image/Richard Waugh.

Fast forward to today and City Beat has learned that Twomey is now the sole director and shareholder of an entity called Twomey Investment Aust Pty Ltd.

Records show he registered the company in late January, when it had already become blindingly obvious that Data Fund was running off the rails.

In a convenient bit of airbrushing, Twomey’s LinkedIn page includes no reference to the Data Fund debacle and describes him merely as an “investor’’ in “various early stage companies’’ since early 2017.

It claims that he “has a reputation for using data, customer experience and team culture to improve the profitability, revenue and market share of a company’’.

Twomey, who previously headed up “digital entrepreneurship’’ at Coles and worked with tech outfit Signal on the Flybuys loyalty program, didn’t return a call seeking comment yesterday.

ANOTHER GONG

She already has a closet full of gongs but Lady Jane Edwards is getting ready to add to the collection.

The Brisbane businesswoman, who oversees the BBS group of spin doctors, will be recognised by the French ambassador as one of his nation’s “knights in the Legion of Honour” at an awards ceremony on July 5.

Jane Edwards has been French Government’s honorary consul in Queensland since 2000.

Dreamt up by Napoleon in 1802, it is France’s top medal for both civilian and military accomplishments.

Edwards, as part of her 35-year career, has served as the French Government’s honorary consul in Queensland since 2000.