Turnbull Government encourages disruptors

Senator Arthur Sinodinos today joined Ben Heap, founding partner of H2 Ventures and Milton Samios, CEO of Investec Australia, to launch the Tech Pioneers 50 report highlighting the local innovators changing the business landscape.

He gave clear words of encouragement for disruptors daring to compete with the establishment, challenging monopolies and building the new Australian economy. He was also committed to the Federal Government working hard to increase its responsiveness and agility in a fast-changing world.

The Tech Pioneers 50 report lists the 50 leading innovators, disruptors, revolutionaries and game changers in Australia and New Zealand.

Heap said those on the list were chosen from a short list of 500 generated through extensive research and analysis based on five factors:

  1. Total capital raised
  2. Rate of capital raising
  3. Geographic and sector diversity
  4. Consumer and marketplace traction
  5. X-factor: Subjective measure of product, service and business model innovation

Tyro is pleased to be recognised among these most outstanding companies. And it is not only Tyro (as the sole nextgen bank honoured), but a fintech ecosystem built around it. That is important since it takes an entire ecosystem to disrupt banking as we know it and bring fair and transparent banking to Australian consumers, SMEs and growth businesses.

Imagine how much the productivity of Australian businesses can be lifted eliminating all these blatant or hidden inefficiencies and that with a digital backbone integrating the software as a service solutions of Tyro, Xero, Vend, OFX, Moula, Hey You (all winners on the list).

The Turnbull Government has changed the narrative with its Innovation and Growth Agenda. A lot of encouraging work is underway. There has never been a better time to launch a disruptive enterprise whether it is targeting banking, health, manufacturing, education. All will be reinvented by Australian companies or global competitors.