The Tech Council of Australia CEO Kate Pounder said she welcomes changes to the Australian tech sector with the historic passing of laws to establish the National Reconstruction Fund (NRF).
She said the NRF can complement private sources of funding for building long-term strategic, emerging technologies and industries.
Here, Kate, who was a recent finalist for the Women Leading Tech Awards Champion of Change, explains why the Tech Council of Australia supports this move:
We commend the Government on the establishment of the National Reconstruction Fund, and particularly thank the Prime Minister Anthony Albanese and Minister for Industry and Science Ed Husic for their instrumental roles in driving forward the delivery of the Government’s election promise.
This is a long-term, landmark investment that will help build Australia’s tech industries in strategically important areas like quantum, AI, robotics and cyber security.
The $15 billion investment in Australia’s industrial and technological capabilities has only become more important as we face global economic headwinds and continued geopolitical uncertainty.
There’s nothing revolutionary about this sort of role for government. Emerging industries and technologies have always been funded by a mix of private and public capital.
By co-investing with the private sector, the NRF will help fill funding gaps in the market and support the growth of tech companies in areas where Australia has a genuine competitive advantage.
Importantly, we hope the NRF can deliver economic opportunity in tech for all parts of the country, from our capital cities to our regional and rural communities.
We know from some of our country’s most successful tech companies that good ideas are not confined by geography – from Townsville to Tasmania or Western Australia to Western Sydney, tech jobs and tech businesses are growing everywhere.
We also thank the crossbench for the constructive role and contribution they have made in bringing the NRF to reality. This is a great example of our political leaders coming together to build a better future for Australian industry and jobs.
The design and implementation of the fund will be key to its success. It’s why we look forward to working with the government and other stakeholders to get this right, now that it has passed into law.
The Tech Council of Australia is the peak industry body for Australia’s tech sector. Providing a trusted voice for Australia’s technology industry, with over 160 members, the Tech Council comprises the full spectrum of tech companies.
The Tech Council of Australia aims to advise and engage with Australian governments, businesses, and the wider community to help support the ongoing creation, development, and adoption of technology across industries.
Its vision is for a prosperous Australia that thrives by harnessing the power of technology.