Hi there,

By definition they start small, but startups have a significant role to play in growth. They’re a key driver for new job creation and are at the nexus of transitioning our workforce to the new economy.

But at the very time that job growth and movement is needed most, Covid-19 has seen 60 percent of startups retrenching staff and slashing costs according to the latest report from Startup Genome on the global startup ecosystem. The report warns of the potential for a ‘mass extinction event’.

So how are Australia’s startups faring? While we might err into self congratulation with Melbourne’s strong showing, Sydney isn’t faring so well, continuing its downward slide.

As Australia, like every other country, looks to emerge from the pandemic, it’s time to double down on support of startups. Their success is vital to the transformation that industries and the economy need.

In other news this week:

Demand for digital customer interaction soars
In fact, CovidSafe might actually mitigate future Covid outbreaks
Brand strategy takes priority over analytics, personalisation
Lessons in innovation from the world’s most innovative

The blowtorch of travel disruption impacts on insurers during the pandemic was a massive test, with lessons for all sectors. If you are focussed on improving your customer experience, have a read through best practices to empower your customer-facing team and complete the accompanying scorecard to get your own assessment.

Enjoy the read,

Heather Wright
Editor
editor@istart.com.au

STARTUPS

Agritech, fintech and life sciences startups leading way for A/NZ

But startups risk ‘mass extinction event’…

Agtech, fintech and life sciences are upping New Zealand and Australia’s cred as places to base your startup, but there are also dire warnings in the latest startup report.

“They will collapse if they do not raise additional capital and their revenues and expenses remain unchanged, risking a mass extinction event for startups.”

[Read more]

DIGITAL CHANNELS

Measuring the swing to digital

Covid-sparked growth looks set to stick around…

ANZ bank is among the many local businesses reporting dramatic increases in customer interaction via digital channels thanks to Covid-19, with indications it’s a change that’s going to stick.

“Digital has taken off massively and we will continue to put resources into it.”

[Read more]

CONTACT TRACING

Sax Institute says CovidSafe really can help stop coronavirus spread

Modelling highlights benefits of contact tracing app to stem future waves…

Australia’s CovidSafe contact tracing app has the potential to mitigate the effect of new waves of Covid-19, according to modelling from The Sax Institute.

“High app uptake noticeably flattens the epidemic curve.”

[Read more]

MARTECH

Martech, analytics falling flat

Tech hype not living up to reality of life…

Analytics, personalisation and martech have taken a dive when it comes to CMO’s strategic priorities with brand strategy instead coming into focus more clearly as a direct result of the pandemic.

“A fine line exists between optimism and hubris.”

[Read more]

INNOVATION

BCG’s Most Innovative Companies of 2020

The results are in: so what do the winners have in common?…

BCG, the global management consulting firm, has released its new report, The Most Innovative Companies of 2020 ranking the top 50 most innovative companies worldwide.

“Serial innovation is hard.”

[Read more]

CLIENT INSIGHT

InsurTech: Delivering consistent communications

Four best practices to empower customer facing resources…

Most insurers recognise the need for consistent customer communications.

Heightened focus on customer experience is shining a new light on customer documents and communications.

[Read more]

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