There are few partners who share the same panache, excitement and support for Australia’s technology ecosystem than we do. But we’ve finally found someone who not only shares those values, we even share an eerily similar name!

We’re excited to announce we are now working with award-winning PR agency Sling & Stone, to help tell Stone & Chalk Group’s stories of supporting Australia’s startups, scaleups and beyond to help our country’s economic prosperity. 

An unrivalled national community for emerging technology, Stone & Chalk Group provides vital access to the experience, knowledge, capital, capabilities, infrastructure and guidance that startups and scaleups require to be successful. 

Our footprint currently spans 11 locations across Australia, supporting almost 1,000 residents from more than 560 startups and scaleups. The Stone & Chalk Group village of residents and alumni has raised in excess of $520 million in capital and created more than 2,500 jobs over the past six years.

Stone & Chalk Group supports some of the fastest-growing companies in the economy, while working with enterprises and government to shape the policy and regulatory landscape required for critical and emerging technology products and services.

Sling & Stone will help raise the profile of Stone & Chalk Group in Australia and globally as we embark on an exciting strategic change, providing education and strategic consulting to residents, giving them the tools, resources and support to grow and expand themselves.

Olivia Grandjean-Thomsen, Head of Communications, Media and Events at Stone & Chalk Group, said:

“We are preparing for a massive 2022, building on the work we’ve done to date with our community with an even stronger program of work and support over the next year and beyond. It takes a village to raise a startup and Sling & Stone’s expertise, authority and smart thinking are all crucial ingredients to give our community the support they need in the future.”

James Hutchinson, Global Head of Business at Sling & Stone, said:

“As an organisation focused heavily on supporting and expanding Australia’s technology ecosystem, Stone & Chalk Group is exactly why we created Sling & Stone. Individually, we’ve already both helped support startups and scaleups raise funding, change industries and go global. Together, we’ll be able to do even more.”

Stone & Chalk selects long-lost twin Sling & Stone as PR agency of record

We’re excited to announce we are now working with award-winning PR agency Sling & Stone

Stone & Chalk Group today announced it has been appointed by NSW Government as the operator of the new Scaleup Hub at Tech Central, following a competitive tender process. 

SYDNEY, 29 NOVEMBER 2021 — Stone & Chalk Group today announced it has been appointed by NSW Government as the operator of the new Scaleup Hub at Tech Central, following a competitive tender process. 

Michael Bromley, CEO of Stone & Chalk Group says the appointment reflects Stone & Chalk Group’s ambition to be the country’s home of emerging technology. 

“We are delighted to be acknowledged for our expertise in supporting Australia’s technology community and are proud to be the partner of choice for the NSW Government’s important growth agenda. 

“From 1 July 2022, when the new Hub will be in operation, we’ll be able to support domestic and international emerging tech startups in their transition to becoming scaleups by providing vital access to resources and infrastructure that scaleups require to be successful.

“The Hub will be a place of convergence for great minds, founders, talent, capital and commercial growth; creating and sustaining the high-quality jobs of the future and contributing significantly to the economy’s underlying productivity.”

Split over 6 levels and 8,000 sqm of open and flexible commercial office space, the Scaleup Hub offers a range of private office suites, meeting rooms, event spaces and spillover workspaces for companies scaling operations. It will also serve as an important landing pad for international companies looking to enter the Australian market.

The new Scaleup Hub marks Stone & Chalk Group’s second location in Sydney and will build upon the Group’s mission to transform Australia into a sustainable technology-driven economy by catering for all business sizes. 

The Startup Hub, located on York street in the Sydney CBD, currently houses 120 companies.

Departing Stone & Chalk Group CEO Alex Scandurra said the announcement reflected the expertise of the team and the capability of Stone & Chalk leadership. “I’m extremely proud of the work the team has done over the past 18 months to make the Scaleup Hub at Tech Central a reality. I congratulate Michael on his appointment as Stone & Chalk’s new CEO and look forward to seeing the Scaleup Hub brimming with local and overseas talent.” 

Sydney's Tech Central precinct is set to become a global technology hub, and Stone & Chalk Group will join a number of influential technology tenants at the site including Atlassian, Commonwealth Bank, University of Technology Sydney, Cicada Innovations and The University of Sydney.

The Hub is currently undergoing a specialist fit out to meet the tech sector’s needs and specifications. 

Expressions of Interest (EOI) are now underway to provide scaleups, and those who support their success, a chance to secure space. Find out more by visiting: www.stoneandchalk.com.au/techcentral.

Stone & Chalk Group is Australia’s home for emerging technology. Our unrivalled national community provides vital access to the experience, knowledge, capital, capabilities, infrastructure and guidance that startups and scaleups require to be successful. 

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

Stone and Chalk: www.stoneandchalk.com.au 

Stone & Chalk Group: www.austcyber.com/shapingthefuturetogether 

Tara Pereira, M: 0416 876 496, E: tara@slingstone.com 

Olivia Grandjean-Thomsen, M: 0402 136 788; E: olivia@austcyber.com

Stone & Chalk Group wins bid to operate new Tech Central Scaleup Hub 

The new appointment builds on Stone & Chalk Group’s commitment to growing Australia’s flourishing emerging tech community

SYDNEY, 26 NOVEMBER 2021 — Stone & Chalk Group today announced that current Chair Leona Murphy will be retiring from the Board following the end of her second term, post today’s AGM, and will be succeeded by seasoned technology executive and entrepreneur, Richard Kimber. 

Ms Murphy was one of Stone & Chalk’s original board members, having been appointed in 2015 when the board was first formed. She stepped into the role of Chairman in 2018, replacing Craig Dunn.

Ms Murphy played an integral role in shaping and supporting the growth of Stone & Chalk over her tenure of six years on the Board. During this time, she helped guide the evolution of Stone & Chalk from a startup community of 120 residents in a single hub in 2015, to the national innovation network it is today.

Stone & Chalk Group’s footprint currently spans 11 locations across Australia and supports 850 residents from more than 560 startups and scale-ups. Its network of residents and alumni has raised in excess of $520 million in capital and has created more than 2,500 jobs over the last six years. 

Commenting on her time as Chair of the board, Ms Murphy said, “I’ve seen a nascent startup community transform into a thriving innovation ecosystem over the past six years, and Stone & Chalk played a pivotal role in this. It’s been an absolute pleasure to be a part of this journey, and to witness how corporations, government and startups have come together to make Stone & Chalk Group the success it is today.”

Having advised the board of her intentions earlier this year, the board conducted an orderly succession process and Leona will be succeeded by Richard Kimber as Chair of the board. Mr Kimber brings a wealth of global digital, innovation and financial services experience to the role, combined with a deep understanding of Stone & Chalk, having served on its board since 2018. His international executive experience spans senior leadership roles at OFX, ANZ, Friendster, Google, First Direct Bank and HSBC.  Mr Kimber is currently the CEO and founder of Daisee, an Australian AI software company that builds cutting-edge applications for contact centres.

“Richard brings a unique skill set to the role, combining a valuable corporate background with the hands-on experience of building successful startups,” said Ms Murphy. “Having worked with him for the last three years, I’m confident Richard has the right experience, attitude and values to continue to shape the organisation. Together with Michael Bromley — S&C’s newly appointed CEO — they will bring strategic leadership to drive the next phase of growth for Stone & Chalk Group.”

Mr Kimber said, “Stone & Chalk occupies a unique position in the Australian innovation landscape. I’m honoured to have the opportunity to carry on the great work Ms Murphy has done to date and look forward to working closely with our residents and partners to accelerate Australia’s technology ecosystem.” 

Eva Yao, M: 0449 899 618, E: eva@slingstone.com 

Chairman Leona Murphy announces retirement from Stone & Chalk Group

Stone & Chalk Group today announced that current Chair Leona Murphy will be retiring from the Board following the end of her second term, post today’s AGM, and will be succeeded by seasoned technology executive and entrepreneur, Richard Kimber. 

Stone & Chalk launches Pivott program to equip Australians with the skills, mindset and tools for the startup sector

MELBOURNE – 13 May 2021 – Stone & Chalk, Australia’s leading impact network for emerging technologies, launched the Pivott program today to connect professionals with startups, scale-ups and emerging technology companies. Thanks to funding from Victoria’s startup agency LaunchVic, the free, full-scale program will first launch in Victoria to ‘pivot’ over 2,000 career professionals into new roles.

With access to both technical and non-technical talent a major pain point for high-growth emerging technology companies, the program will provide a pathway for ambitious professionals, providing them with the skills, mindset and tools they need to seek career opportunities in a startup or scale-up. 

According to a recent report from RMIT Online and Deloitte, over 50,000 Australians reported a ‘lack of skills’ as the main barrier to finding work in 2020. Pivott is designed to help Australians understand that technical skills are not the only roles startups are seeking; and the fast-growing emerging technology sector has opportunities across a range of disciplines, all of which are actively hiring. 

Pivott is a holistic program that offers Australians learning opportunities, while also providing access to interactive workshops, industry events, mentorship programs and a job matching platform to connect job-seeking professionals with employers based on their unique skills. Professionals are encouraged to take advantage of multiple elements of the program during their recruitment journey. The program is also open to startups across Stone & Chalk’s network to provide them with fair access to the strong talent needed to fuel their growth. 

Minister for Innovation, Medical Research and the Digital Economy, Jaala Pulford said the skills programs will provide new career pathways for Victorians and ensure a pipeline of suitable candidates for the rapidly growing startup ecosystem. “We’re backing Victorians who want to transition into a different career to get the skills and connections to work in a startup,” Ms Pulford said. “Startups create jobs and are playing an increasingly important role in Victoria’s economy - programs such as these will help Victorians chart a course to a rewarding future." 

Paul Seidl, an employee at GigSuper who recently made the transition into the startup world said, "First day in, you're in marketing meetings, product development meetings, advertising ... you're accessing different parts of your brain. Things I’ve never been able to try in the corporate world. Making the transition from a corporate to tech startup has been fulfilling from day one."

Annie Le Cavalier, General Manager of Stone & Chalk Melbourne said, “I’m pleased we could kick off the launch of this new program in Victoria. As the local sector continues to mature, more opportunities for workers of all backgrounds and skill sets will continue to emerge." 

Alex Scandurra, Group CEO of Stone & Chalk added, “Talent is a key enabler for economic growth and this program will provide professionals who are new to the startup ecosystem with the right resources and training. By leveraging Stone & Chalk’s network of startups, scale-ups and partners, we’re able to offer a solution that addresses startups’ immediate talent challenges. 

“Providing a holistic introduction to the startup ecosystem means Australians are walking into roles well equipped with industry knowledge, an appreciation of the need for their own skills and valuable mentors to lean on.” 

The Pivott program is open to job seekers and startups in Victoria. For more information, visit www.pivottcareers.com.au.

Stone & Chalk is Australia’s leading Impact Network™ for the emerging technology sectors.

Together with their resident founders, mentors, investors, and industry and government partners they have a proven track record in providing growth and commercialisation support for startups and scale-ups. Residencies in their innovation hubs in Sydney, Melbourne and Adelaide provide access to customers, capital, talent, expertise and community collaboration opportunities. 

Tested Marketing Tactics with Gali Arnon, CMO - Fiverr

Fiverr’s digital marketplace connects millions of businesses with skilled freelancers from around the world. In 2020 they expanded into ten new countries.

We caught up with Chief Marketing Officer Gali Arnon, to discuss how they pivoted their marketing strategy to thrive amidst the global pandemic:  

“If you move fast, and are flexible, agile, it can work to your benefit.”

Gali also shared her views on which marketing channels to use and when, and how to approach personalised and localised marketing.

The changing global scene in March 2020 meant Fiverr’s planned marketing campaigns were no longer relevant, or even logistically possible. As Gali explained, “ultimately we needed to do everything different”.

Using its abundant pool of freelance talent, Fiverr created a video called ‘Working Remotely’, depicting a company tapping into a team of freelancers to create an advertising campaign in response to Covid-19.  

Gali and her team also spotted an opportunity in terms of media spend. Perversely, at a time when viewership was increasing, the cost of digital advertising dropped as many companies reigned in their spending.  

Fiverr’s 250+ annual events were all moved online, which had a positive knock on effect by driving more traffic and engagement to their site.

They also invested resources into supporting their large community base, creating case studies and new hubs to help businesses make the shift to online.

How do you determine which marketing channels to use?

It depends on your size, industry, and budget. Make sure you tailor your marketing strategy to your business.

For Gali, first and foremost you must be data driven. One of the leading marketing principles at Fiverr is: “Measure everything you do”. Being able to confidently attribute customers to the correct channel is crucial for businesses to maximise their marketing budgets. However, you need to leave enough room for intuition and gut-feeling in decision making. Experience and common-sense should not be undervalued.

According to Gali, the priority for startups should be intent-based marketing: “When people are looking for your product or service you have to be there”. SEO and PPC are great places to start and are where you are going to see the best ROI. For those with tight budgets, focusing on long-tail keywords can be an effective and relatively inexpensive strategy.

Once mastered, companies can consider moving to the next stage – intent-creation. Fiverr has used Social Media and influencers to great effect in their own branding campaigns.  

Before introducing personalised messaging, companies should identify and gain a deep understanding of their different customer groups.

While harnessing quantifiable customer data is obviously a crucial element here, qualitative data should not be overlooked.

Gali regularly meets with (currently virtually) a range of both freelance and business customers to learn about their experiences using Fiverr. “Their first-hand experience and communication are irreplaceable in the mix”.

A strong piece of advice from Gali: closely monitor the timing and frequency of your personalised ads. “If you bombard your customers with messages, they will stop listening to you”. Timing is key. Real-time and reactive communications using notifications and in-product messaging can be utilised to great effect.

Any advice for launching in a new country?

Every culture is different. What you know for one country is not relevant for another, even if they share a language.

Before launching in a new market, Fiverr analyses data of existing customers from that country. They also make use of local experts – people who speak the language and have a deep understanding of the culture.

It is critical to have a clear view of aspects such as competitors, market landscape, and audience maturity before you build a plan.

In summary: “Start small, test, see what’s working. And then go”. 

Thriving In A Male Dominated Tech Industry

As part of International Women’s Day, we assembled an expert panel who discussed the challenges of working in a male-dominated industry and why embedding gender diversity into tech culture is so important.

The event was moderated by professional business coach, Amy Bett. Amy was joined by: 

·       Gretchen Scott, Community Manager - Cloudflare. | Director - Women Who Code Melbourne 

·       Linda Lai, Full-Stack Developer - Zendesk. | Chapter Lead – Muses Code JS

·       Jacqui Loustau, Founder - Australian Women in Security Network. | Principal Security Consultant – Cynch Security

The panel also gave us their reaction to two polls taken live by our audience.

The panellists all recognise that creating diversity in tech is a broader issue than gender alone. Building inclusive environments that embrace and encourage all currently under-represented minorities is a question of both ethics and good business.  

As Gretchen explains, tech is in practically every aspect of our lives, but it’s built largely by a homogenous group which results in products that are not completely fit for purpose. If tech companies were more diverse perhaps mapping tools would show wheelchair accessible routes, or ones with street lamps after dark. “Building a product that suits everyone has to be more profitable”.

Linda expands on this, pointing out that the process of “retroactively” fixing products with accessibility issues can be a hugely expensive and time-consuming process. Having a diverse and culturally representative team can help iron out such oversights during the research and development stages.

“If we’re not including diversity in decision making, we’re just building sub-standard products”.

Poll 1: Where is your organisation in relation to embedding a diverse culture?

·       Haven’t thought about it: 9%

While Gretchen and Linda were both pleasantly surprised by the relatively high Embedded score, neither were shocked that Awareness came top. In Gretchen’s experience, while many companies recognise the importance of promoting diversity in the workplace, they tend to get stuck in the awareness stage – often due to a lack of women in leadership positions.

At Zendesk, Linda points to mindset changes and revised recruitment practices as key components in creating workplace diversity, with the number of women in their tech team growing from five to sixty over the past five years.

Jacqui echoes this point, having observed several start-ups embed a diverse recruitment strategy from the very start, quite often subconsciously. As Gretchen puts it: “setting the culture from day zero is so important”.

Poll 2: What are the biggest challenges when it comes to gender diversity in your workplace?

·       They don’t take it seriously: 13%

·       They don’t understand the business impact if gender diversity was ignored: 25%

·       They aren’t reporting bad cultural behaviours: 38%

·       No challenges, our people are all over it: 25%

Linda has found that most “bad cultural behaviours” come in the form of micro-aggressions – seemingly minor comments, often unconscious language choices, which, when repeated regularly can have a damaging impact. “Lots of people aren’t even aware that the language they use inhibits inclusivity.”

When speaking at tech events, Gretchen often feels a palpable difference in the way she and her male contemporaries are addressed. “Having to qualify yourself before you are heard is exhausting. It can have a big impact on confidence”. Similarly, in the early stages of her career Jacqui experienced several meetings where she felt the need to continually demonstrate her credibility or risk being overlooked.

The tech industry is notorious for its jargon, which is not always easily translatable, making it a real barrier to entry for currently underrepresented groups. As Gretchen explains this can create “an unintentional arrogance and roadblocking of people whose voices need to be heard”.

Linda agrees, highlighting language change as a crucial, but often overlooked subject. Zendesk and others have started tackling the problem by incorporating accessibility tools in their internal messaging systems, which highlights and educates users on any non-inclusive language used.

While there is no single solution to the issues discussed, one thing our panellists all agree on is the importance of solidarity.

As Linda explains, women in tech talk – there is so much support available through online communities. Reach out, find a group that’s right for you and they will help you decide which companies are worth your time.

“Remember, in many ways the tech industry needs you more than you need them.”

You can watch the full discussion on our YouTube channel.

Join Stone & Chalk’s mailing list to stay up-to-date with this and more here.

Don’t miss out on our 42-page Capital Raising Guide for startups. This guide explains funding stages, financing methods, pitching and government initiatives. It also contains additional resources and capital raising case studies. Download your free guide now! 

Our February event – The Future of Food and Sustainable Farming – was moderated by Julia Waite, Head of Operations at SproutX. Julia was joined by a distinguished panel of guest speakers from some of Australia’s leading Agtech startups:

·       Conrad Smith - CEO, Stacked Farm 

·       Tim Noakesmith - Founder & CCO, VOW

·       Kevin Baum - CEO & Co-Founder, AgriWebb

·       Geraldo Caspary - Australasia Country Manager, MagGrow

 The panel delved into the hotly debated issues surrounding traditional farming practices, offering insights into the pioneering solutions they have engineered and begun to implement.

Stacked Farm is Australia’s first end-to-end automated, indoor vertical farm. From seed to transport, leafy greens to livestock feed, their produce is pesticide and hormone free, and completely untouched by human hands.

Sustainability was a key driver for Conrad. His vertical farming techniques use 95% less water than traditional methods and enables crops to be grown and harvested from within formerly unimaginable urban environments. This promotes local value food chains and significantly reduces supply emissions.

The very nature of a controlled environment means future produce is less vulnerable to external factors such as drought and bushfires as the world’s climate becomes increasingly unpredictable.

MagGrow’s patented technology significantly reduces waste associated with conventional pesticide applications. As Geraldo explains, currently 70% of pesticide spray does not reach its intended target, instead drifting airborne or running off into rivers, where it can have a devastating impact on nature. Improved efficiency means “producers no longer have to compromise between profitability and environment”.

It’s also great for water conservation, reducing usage by 25-50% and leading to considerable savings for producers. This is particularly important in countries such as Australia where the price of water is volatile.

For Kevin, harvesting and utilising agricultural data is at the heart of the matter. Using AgriWebb’s software, farmers can digitise daily farm records, allowing them to make data-driven decisions and plan day-to-day operations with greater efficiency.

As he explains, “improved efficiencies will help both the farmer’s bottom line as well as reducing the impact on the environment”. Their customers are seeing an average increase in productivity of 7.5%.

Tim and his colleagues at Vow are focussed on “reinventing food from the ground up”. In just six weeks, their technology can create real, ready-to-eat meat from a handful of animal cells. This directly tackles the environmental (and ethical) implications of livestock farming, as well as increased global demand for meat.

For Tim, changing our dietary preferences is key to future sustainability. With the human population forecast to increase to 10 billion in the coming decades, we need to find a way to produce more food while simultaneously reducing our carbon footprint. “Ultimately technologies are going to outperform what animals can produce”.

When asked for the biggest challenges facing the future of food and sustainability, the panellists put forward the following:

·   	Conrad, Stacked Farm: Further reducing costs and increasing renewable energy usage in the production process.

·   	Geraldo, MagGrow: Changing behaviour at a fast pace, using disruptive technologies.

·   	Kevin, AgriWebb: Overcoming aversion to change.

·   	Tim, Vow: How quickly we can bring about change to the people who really need it.

While all four have taken different approaches to tackling the future of food and sustainability, one thing they agree on is that there is no one solution. Safeguarding the planet (and indeed humanity) against issues related to climate change, water scarcity and a rising human population will require the implementation of a combination of solutions.

You can watch the full discussion on our YouTube channel here.

Join Stone & Chalk’s mailing list to stay up-to-date with this and more here. 

Don’t miss out on our 42-page Capital Raising Guide for startups. This guide explains funding stages, financing methods, pitching and government initiatives. It also contains additional resources and capital raising case studies. Download your free guide now!

The Future of Food and Sustainable Farming

Stone & Chalk and AustCyber have merged. 

“In making our two organisations one, we are combining the greatest concentration of cybersecurity expertise in the country with the most developed technology commercialisation infrastructure that Australia has ever built.” - Alex Scandurra, CEO, Stone and Chalk.  

Founded in 2015, Stone & Chalk is a not-for-profit organisation with a proven track record in developing successful growth and support frameworks for emerging tech sectors. As part of this mission, we continually look to expand and grow our capability beyond fintech to all emerging technologies. 

To boost Australian domestic industrial capability in critical and emerging technologies, we have merged with cybersecurity peak body, AustCyber. AustCyber’s mission is to support the development of a vibrant and globally competitive Australian cybersecurity sector and in doing so, enhance Australia’s future economic growth in a digitally-enabled global economy. 

Together, we will provide a powerful voice to better shape the policy and regulatory landscape for critical and emerging tech products and services. Startups and scale-ups will gain greater access to domestic and international customers, capital, talent and expertise. This integration will also create highly-skilled jobs for Australians and provide a highly attractive means to retain economic benefit as emerging tech industries continue to grow. 

Our founders will receive vital support and expertise from AustCyber to ensure they are cyber resilient as they continue to scale. Likewise, this integration will strengthen our reach to support cybersecurity founders, providing them access to our full suite of commercialisation support services. These include investment support, customer and talent acquisition, corporate partnerships, ecosystem support, and curated mentorship from commercial leaders. Together, emerging tech startups will gain access to an even stronger Impact Network™ and resource base. 

The Hon. Stuart Ayres MP, Minister for Jobs, Investment, Tourism and Western Sydney with Alex Scandurra CEO of Stone & Chalk and Michelle Price CEO of AustCyber announcing the merger. 

“In a world where the security of our entire economy is increasingly contingent on the strength of our domestic industrial technology capability, the integration of Stone & Chalk and AustCyber will enable our joint organisation to pursue a resilient and prosperous future not just for founders, enterprise, and governments, but for all of Australia,” says Alex Scandurra, CEO, Stone & Chalk. 

“The COVID-19 pandemic has made it clear that Australia can no longer depend so heavily on imported technology and have critical dependencies in supply chains. I am inspired and humbled to have the privilege of supporting the rapid growth of Australia’s cyber and emerging tech companies, and with them the development of Australian industrial capability in strategically significant areas of emerging technology for our country,” 

AustCyber will become a wholly-owned subsidiary of Stone & Chalk, retaining its standalone brand, staffing structure and National Network of Cyber Security Innovation Nodes. It will also continue to operate as one of the Australian Government’s Industry Growth Centres.  

“Digital trust is more important than it has ever been for all organisations across our country,” AustCyber’s CEO Michelle Price said. 

“In this environment, it has never been more urgent to provide commercialisation pathways for Australia’s cybersecurity founders, and build a cyber-resilient Australian industrial capability to support our nation to prosper in the years to come.” 

“It is in our nation’s interests to be investing in scalable, flexible and sophisticated ways and means to nurture and propel forward emerging tech industries. AustCyber has demonstrated its ability to do this for cybersecurity and it is critical we apply similar approaches to other areas of emerging tech, that also embeds cyber resilience, for national and economic security benefit as well as to help shape the impacts these technologies are having and will continue to have on all Australians.”

“I have long respected the capabilities of Stone & Chalk and know that joining forces will provide our existing ecosystems with the tools they need to evolve, develop and thrive. It will also support those areas of the economy developing strategically important technologies whose industries are still forming and the understanding of economic and societal impact still taking shape.” 

Learn more: www.shapingthefuturetogether.com.au

Nick Frandsen is one half of the Kiwi duo who helped propel Afterpay - one of the biggest tech success stories of the decade - into the $14 billion venture it is today. Nick is the Co-Founder and Managing Partner of Dovetail, a product development agency with a proven track record for turning ideas into commercially-successful digital products used by millions of people.

We chatted with Nick about what led him to start Dovetail, and how Afterpay partnered with Dovetail to build the fastest-growing public company in Australian history. He also gave us some valuable strategies for growth for early-stage startups. This conversation was moderated by Cheryl Mack, Stone & Chalk’s National Head of Community, 

Nick was an entrepreneur from an early age, starting his first tech company in his final year of an Economics and Computer Science degree. “You learn something from being thrown in the trenches of a startup,” says Nick. After building his first company successfully, Nick and his other co-founder eventually sold it and started thinking about the next big thing that would occupy them: Dovetail. 

Dovetail’s main claim to fame is the product development it has done for Afterpay, which has helped Afterpay grow into a global payments leader. The partnership began after Nick chatted with one of the founding employees of Afterpay, who also happened to be someone he had studied at uni with. 

As a result, Afterpay outsourced Dovetail’s services because they wanted partners who were talented in the technical realm (Afterpay’s founders are not technical). As a result, Dovetail launched a world-class mobile product in a short timeframe, enabling Afterpay to enter the market quickly. Astoundingly, within 48 hours of its soft launch, the Afterpay mobile app was ranked no. 1 on the Australian Apple AppStore!

As Afterpay continued to rapidly gain traction, Dovetail redesigned its website so that it could handle the increased volume of traffic, enabling Afterpay to scale even further. Afterpay is now even a shopping destination in itself!

The web and mobile products that Dovetail designs, builds and maintains for Afterpay now serve over 7 million customers every month in four international markets. “It’s been a really fun journey,” says Nick.

According to Nick, the reason for Afterpay’s rapid growth is that it acquired its customers through indirect marketing. Afterpay would interact with large merchants, which in turn meant that they indirectly interacted with that merchant’s customers.

The reason Afterpay was able to successfully penetrate international markets was its strong value proposition: interest-free payments for the customer, paid to the merchant through four installments. It’s a versatile value proposition that works at all levels of scale, explains Nick. Furthermore, Afterpay solidified its credibility by creating a recognisable logo from day one that remained consistent throughout its growth. 

 Nick’s advice for early-stage startups

Find good advisors with relevant industry experience to your type of business (and preferably in your location). Advisors will help you avoid some early mistakes, and they may even be able to connect you to other types of advisors later down the track.

Start selling your product early on if you can, especially if you are growing quickly. This will enable you to validate yourself and receive honest feedback from paying customers. 

Hire good people who align with your business, especially in the early days. These will be the people who will form the basis of your company’s culture. 

Don’t underestimate sales and marketing, and make sure you’re doing it early. You want to be able to sell and market your product well from the beginning so that you can give your business all chances of success!

 In case you missed it, Afterpay’s CEO Anthony Eisen is on the Board of Directors at Stone & Chalk. 

Lessons learned from helping build Australia's fastest-growing tech company

In June 2020, the Australian Government announced it was allocating $1.35 billion dollars of funding over the next 10 years to enhance Australia’s cyber security defences. This comes in the wake of recent numerous cyber attacks on Australian governments, political organisations and businesses.

Our leading cyber experts helped bring insight into the new reality of cyberwarfare in Australia, how startups can help, and how businesses can protect themselves against these sophisticated attacks. We welcomed Michelle Price, CEO at AustCyber, Hai Tran, CEO at Australian Cyber Collaboration Centre (A3C), and Dr Vaughan Shanks, Co-Founder and CEO at Cydarm Technologies, with Chris Kirk, General Manager of Stone & Chalk Adelaide, moderating the discussion. 

Historically, Australia has been safe during warfare due to our isolation from other countries, but in cyber terms, this distance is breached. Being a rich country with an abundance of resources and intellectual property, Australia is the perfect target for a cyber attack. Hai labels attacks on Australia as ‘two-fold:’ firstly, there is financial gain, and secondly, it’s a show of force.

This new cyberwarfare reality is the Cold War 2.0, says Vaughan. ‘It’s one of the tools available for statecraft in a scenario where no one wants to start a shooting war.’ But this ‘new reality’ is exaggerated by the Australian media, says Michelle, who reiterates that these kinds of cyber attacks have been going on for years. Instead of alarming ourselves, we should treat this new reality as a reminder that we need to tidy up our cyber defences. 

We are all targets of cyber attacks because we form part of someone’s supply chain, explains Hai. Enemies always like to attack the weakest link because they’re the ones that aren’t generally prepared for a war. Think about the last time you received a phishing email with a clickable link from a reputable organisation you are involved in. 

Cyber attribution - where you know who the malicious actor is in an attack - can be useful in some scenarios because it can act as a type of reconnaissance, explains Vaughan. It enables you to anticipate what will happen next and where you need to focus your attention. 

However, Michelle emphasises that attributing attacks is not a one-size-fits-all approach because cyber is contextual. This is why Australian small business owners may be directly targeted more than government or big businesses. Therefore, it’s vital that all levels of business have cyber security measures in place, because ‘it’s small actions that can have big impacts,’ says Vaughan.

The main problem in cyber is scaling security down. Government agencies and banks have very structured, complex and expensive cyber control measures. This presents the opportunity for Australian startups to take all of that and scale it down for a small business that is operating on a restricted budget. 

In the meantime, Hai suggests small business owners start implementing an affordable cyber plan that ‘prepares their business as if it’s going to be attacked tomorrow.’ They can do this by:

Buying cyber insurance (cheaper than other forms of insurance!)

Enabling authentication, especially MFA (multi-factor authentication)

Creating more awareness in their workplace around cyber attacks and cybersecurity, taking a top-down approach

Everyone on the panel agrees that cyber security in businesses should be as simple as common sense. If we all protect ourselves against these attacks, then the entire system is safeguarded. 

This webinar is the first in our new Cyberwarfare series. A link to the full recording can be found here. Keep an eye out for the next episode!

Cyberwarfare Series #1 Coming to Terms with Australia’s Cyberthreat

Capital raising can be a difficult and intimidating part of starting and scaling your business, but there’s no doubt that in many cases it can be crucial to success. In the context of an impending global recession, it’s especially important to have a thorough understanding of the capital raising landscape, including what options are available, and what to expect through the process.

To help demystify the process, pitfalls and promises of capital raising, we have worked with our partners including ASX, Reinventure, NAB Ventures, One Ventures, and many more, to put together the Stone & Chalk Capital Raising Guide for Startups. The guide, available for free download HERE, contains everything you need to know. It explains funding stages, valuations, pitching, as well as a valuable list of online resources. The guide isn’t just limited to VC raising, either, but runs through crowdfunding, IPOs, government initiatives, and other key concepts. 

In the foreword, the guide also includes some useful general information about how to survive and lead through the Covid-19 crisis, including balancing short-term focus with long-term vision and refining your pitch for the current environment.

To mark the launch of the Capital Raising Guide, Stone & Chalk invited experts from leading Venture Capital funds to answer the most frequently asked capital raising questions and discuss how startups can and should adapt their strategy in response to current economic conditions. 

Moderated by Cheryl Mack, our Head of Community, the panellists were Simon Cant - Co-founder and Managing Partner at Reinventure; Michael Dovey - General Partner, IAG Firemark Ventures; Andrea Gardiner - Founder and CEO, Jelix Ventures; and Chris Quirk - Investment Manager, rampersand. Startups are currently in a position where financial decisions matter more than ever and are also harder to make. Our panel complemented the Capital Raising Guide well by addressing these timely issues with practical advice. Watch the recording below! 

The webinar covered some tips on how and when to connect to VCs. The consensus among our panellists was that it’s never too early to get in touch with VCs to start relationship-building. Even before you’re ready to raise, or when you’re too early to be of interest to most VCs, it’s best to start the process of letting them know who you are and what you’re building. Even Andrea, who as an angel, invests in startups much earlier than most, says that she rarely invests in a startup whose founder she has known for less than a year. 

That being said, the way you create a relationship with a VC is also very important. Simon recommends against the “spray and pray” approach, which is too generic and comes off as spam. Instead, it’s best to get intros from people who are already connected with the VC. For example, through founders already in a VC’s portfolio. It’s also important to research a VC before approaching them, to learn a bit about who they are and what they usually invest in, to determine whether they’d be a good fit. 

To learn more valuable tips about capital raising, check out the Capital Raising Guide HERE and watch the webinar below:

Join Stone & Chalk’s mailing list to stay up-to-date with this and more here.

Stone & Chalk Launch Capital Raising Guide for Startups

Capital raising can be a difficult and intimidating part of starting and scaling your business, but there’s no doubt that in many cases it can be crucial to success.

What is Post-Covid Recovery and is this the new normal? In the face of a changed world and the challenges presented by a pandemic, how has the PropTech market responded? Is necessity the mother of adoption? And what does the future hold? In the first of a series of events held by PropTech Association of Australia and sponsored by Stone & Chalk, Kylie Davis is joined by an expert panel to address the big questions.

Taking a three-fold approach, panelists provided insights and future predictions across economics, real estate and technology in the property market. Eliza Owen heads up Australian Research at CoreLogic, Dan Evans of Macquarie is Head of Property Services and Chris Rolls, founder and Managing Director of PieLab is an entrepreneur, investor and adventurer.

No one anticipated Covid-19, lockdown, and the unprecedented adoption of virtual tours, video negotiation, digital marketing platforms and online auctions. PropTech solutions have been rapidly built and embraced. And while there’s been a mild fall in home sales, listing volumes and rental markets, it’s not as severe as we thought, reports Eliza. The interesting area is around consumer confidence and how that directly relates to the virus curve. While there’s been a trough, data shows that things are stabilising. As restrictions and closures ease, confidence is slowly returning. 

Dan Evans confirms similar trends in the Macquarie Pulse Check Report, which has been benchmarking the real estate industry since 2007. While previous themes of revenue stream impacts, business confidence, and consolidation and scale remain the same — it’s no surprise that there’s increased amplification and volatility in these areas.

Findings also show a broad trend of less commission on fewer sales. The need to service more clients, remain profitable and have a better holistic understanding of business has intensified. Interestingly, high performing businesses aren’t necessarily implementing new technology, but using what they have in adaptive, consistent and efficient ways in a commitment to continuous improvement and change.

From a PropTech perspective, Chris Rolls is seeing cost-cutting occur as growth stagnates for businesses. While remote inspection and online tools have seen an uplift, the question remains whether adoption and success of these will continue in a post-covid environment. For innovation in PropTech to be successful, Chris says, growth and capital is the challenge. While the economy is hurting, it’s likely there will be less investors playing in the PropTech space. 

That’s why it’s important for the big property players to look towards outside-in innovation. 

However, it’s not all doom and gloom. While our panelists agree there’s still some headwinds to battle, future predictions are optimistic. Recovery will take shape — and that shape just may be less labour-intensive, operational and expensive if we take our lessons from Covid-19 forward.

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WHAT'S HAPPENING?

The latest news at Stone & Chalk

Stone & Chalk selects long-lost twin Sling & Stone as PR agency of record

Stone & Chalk Group wins bid to operate new Tech Central Scaleup Hub

Chairman Leona Murphy announces retirement from Stone & Chalk Group

Stone & Chalk launches Pivott Careers

Tested Marketing Tactics with Fiverr

Thriving In A Male Dominated Tech Industry

The Future of Food and Sustainable Farming

Stone & Chalk and AustCyber have merged.

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Cyberwarfare Series #1 Coming to Terms with Australia’s Cyberthreat

Stone & Chalk Launch Capital Raising Guide for Startups

PropTech and Post-Covid Recovery

Stone & Chalk waives membership fees

The successes of Stone & Chalk's MentorMatch program

Innovation-focused partnership with Royal Bank of Canada

Stone & Chalk Mentor program sees $250,000 injected into the ecosystem

Winners are grinners at the inaugural cyber battle & strategy launch

Stone & Chalk appoints new Chairman and Board

Linktree Startup Journey

HIREYOUR EVENTSPACE

UPCOMING EVENTS

Stone & Chalk Presents: Proptech Panel - How data is changing residential property development

HIRE
YOUR EVENT
SPACE