News and Research

Last week, Australia Post announced that it will be investing $20 million in emerging e-commerce business and will be co-locating its ‘venture accelerator program’ within the University of Melbourne’s Melbourne Accelerator programme (MAP). The company also revealed that it could invest as much as $100 million in the next few years in emerging local e-commerce businesses as a measure to fuel innovation in digital services for its customers.

The partnership with MAP and the investment fund are part of a wider program which is directed at accelerating e-commerce innovation and aiding small businesses across Australia. In relation to this, University of Melbourne vice-chancellor and professor Glyn Davis said, “harnessing the current mood around Australia’s innovation agenda is important, and this investment will go a long way to ensuring that start-up cultures like those at MAP continue to have a prominent role at the university.” This non-exclusive partnership is predicted to be the first of many around Australia.

In addition to this, Ahmed Fahour, Managing Director and Group CEO of Australia Post, believes innovation is at the forefront of Australia Post’s transformation into a leading e-commerce business.

Already Australia Post increased innovative activities – last week it was reported that Australia Post is conducting research and development in trialing the use of drones for package deliveries as early as next year. The drones, which will cost $10,000 each, will allow parcels to be delivered right on people’s patios.

Indeed, Australia Post’s investments in innovation will no doubt add a competitive edge in an increasingly technological market. There is no denying that innovation is one of the most exciting ways to move a country and a company forward. But for that to happen, a company must create an environment conducive to innovative activities. A way for companies to do this is by undertaking research and development to drive new ideas, products, processes or software. Whether you are trialing drone delivery or researching a new product, you may be eligible for tax credits. Contact us today to find out if you qualify for the R&D Tax Incentive.