News and Research

This week throughout Sydney, 150 speakers and 60 events across 22 venues will take place to showcase and endorse Australian start-ups. There are ten different streams, majority around technology, including financial technology, health technology, and to the delight of many, the Internet of Things.

If you hadn’t heard of the ‘Internet of Things’, or IoT for short, it is basically a concept of connecting any device with an on and off switch to the Internet. From wearable technology to smart cars and homes, the IoT is a giant network of connected “things”. It is the relationship between people to people, people to things, and things to things.

Although Australia did not partake in the PC wave during the 80’s and 90’s, initiatives such as Start-Up Week and the Turnbull governments innovation agenda, Australia has the opportunity to embrace and impact the IoT wave. Moreover, The IoT movement is rumoured to be larger than the smartphone, tablet, and PC markets combined.

In relation to this, large corporations in Australia have started realising the potential of IoT and are acting on it. However, in order to develop and improve new products, devices, processes and ways to connect to ‘things’, a company should consider investing in research and development to drive innovation.  In fact, several companies may already be partaking in R&D activities and may not know that the Australian government seeks to support them by encouraging innovation through the Research and Development Tax Incentive. Contact Ausgrant today to see how the R&D Tax Incentive can help you.