KPMG and Stone & Chalk Space cohort ready for launch

Future Technology Program offers support, networking and mentorship to propel space startups to success

SYDNEY, 14 March 2023 — KPMG Australia and Stone & Chalk are looking for game-changing startups working in Space Technology for the next cohort of the Future Technology Program – which combines the largest innovation community in Australia at Stone & Chalk with KPMG’s deep expertise and knowledge, to help startups introduce better technology, better innovation and better thinking into the economy. 

Five startups working in Space Technology will receive complimentary residency for 12 months at one of Stone & Chalk’s startup hubs located in Sydney, Melbourne and Adelaide as well as guidance and support from KPMG’s diverse array of mentors and industry leads who can facilitate client introductions and industry conversations. Additionally, each Future Technology Program recipient will gain a KPMG mentor tailored to their business, assisting startups in their efforts to validate, test, learn, and explore genuine opportunities for growth.

Stone & Chalk Group CEO, Michael Bromley said Space Tech startups are game-changing businesses that are driving Australian innovation.

"I’m very excited that our next cohort for the KPMG and Stone & Chalk Future Technology Program will be focused on Space Technology. The technology being developed now for use in Space will not only help us explore and learn more about the universe in which we live, but it will also drive innovation for use back home on Earth. From climate tech to navigation and software development, Space Technology really is Earth Technology," he said. 

Australia’s space industry offers massive growth potential and is projected to reach $12 billion by 2030, growing at a CAGR of 8.2%. It currently includes nearly 600 businesses employing over 14,000 people. Space is anticipated to play an increasingly important role in the nation’s defences, with the Department of Defence expected to invest nearly $10 billion into space technology and infrastructure over the next two decades. Sectors such as agriculture, mining and transportation are also becoming more reliant on earth observation data and satellite communications.

The program is now open and seeking applications from early-stage founders building space tech startups, companies that rely on space infrastructure, as well as solutions or technologies from other sectors that are directly relevant to space. This includes:

• Space tech startups building products relevant to operations (management of objects and satellites in space), applications (software and hardware data used for industry, such as GPS sensors for logistics analysis), or enablers (research and development) 
• "Spin in" companies that may not ordinarily be classified as space tech, but which have an innovative solution that is relevant to Space, or which use Space assets, data, sensors, networks or infrastructure 
• Solutions that use Space infrastructure to solve major industry problems, particularly as they relate to health, weather, transport, telecommunications, energy, media, technology, mining & resources, agriculture, defence, supply chain and ESG 

Hardware and launch startups will also be considered, though are not expected to be the primary focus of this program.

Sarah Vega, National Managing Partner, KPMG Futures, said the program aims to play a critical role in helping space startups thrive in a challenging capital raising environment. 

“We're excited to be working with companies in Australia who are pushing the limits of what's possible in space. Space data and applications are revolutionising operations, reducing costs, and providing lightning-fast decision-making capabilities across a range of applications in financial services, utilities and health. Many of these ground-breaking capabilities are being developed right here in Australia and we are looking forward to welcoming the next cohort of winners of the Future Technology Program.”

To be eligible for the Future Technology Program, startup applicants must meet the following criteria: 

1. Be Series A or earlier and building technology which can be applied to Space 
2. Be in a position to accept residency at Stone & Chalk (Melbourne, Sydney or Adelaide) 45 days from the date they have been notified in writing of being a successful applicant 
3. Be already operating in Australia at the time of their application for the Program, or commencing operations by June 30, 2023 

Applications for the program are now open here and will close on April 14. The program will begin in July 2023, with offers expected to be made in early June. 

ENDS

Media Contact:

Tom Finnigan, M: 0408 867 367, E: tom.finnigan@stoneandchalk.com.au
Ash Pritchard, M: 0411 020 680, E: apritchard@kpmg.com.au 
Courtney Phelps, M: 0452 663 095, E: courtneyphelps@slingstone.com

About Stone & Chalk Group

Stone & Chalk Group is the largest innovation community in Australia. We support startups, scaleups, corporations and governments, at every stage of their innovation journey. We foster a community of founders, mentors, experts, corporates, partners, and collaborators to help entrepreneurs and businesses build, grow, and commercialise ideas. Ensuring they have everything they need to adapt and thrive in an age of technological disruption.

For more information, visit: www.stoneandchalk.com.au 

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