Hi there,

It looks like it’s curtains for Australia’s innovation patent system, with the Senate committee on economic legislation endorsing a bill to see the scheme scrapped.

It’s not the first time the axe has been swung at the scheme, which offers short-term patents for incremental improvements on existing technology, with the Productivity Commission suggesting back in 2016 that it should be abolished. This time though, it looks like there won’t be a fightback – even if the abolition of the scheme isn’t being universally welcomed.

So has it helped foster and protect innovation in Australia or is it actually wasting funds better spent on developing valuable IP?

In other news:

Big digital platforms rally against ACCC inquiry proposals
Industry 4.0 boost with $50m Manufacturing Modernisation Fund (and ERP is included)
Huawei trumps Trump with '5G For Sale' move
Why action is important to keep up with AI

If days sales outstanding and cash flow concerns are keeping your finance team up at night, we’ve got some advice on how AR automation can help remove the obstacles that can prevent businesses from collecting receivables as fast and efficiently as possible.

Enjoy the read,

Heather Wright
Editor
editor@istart.com.au

INTELLECTUAL PROPERTY

Australian Govt to scrap innovation patent

Bill seeks to phase out Australia’s second-tier innovation patent system…

Australia’s innovation patent system will soon cease to be, amid concerns that the scheme is stifling competition.

“Economic evidence shows that the innovation patent system fails to incentivise R&D, and allows big business to block SMEs from innovating.”

[Read more]

SOCIAL MEDIA REGULATION

Platform providers take aim at ACCC digital inquiry

And ACCC fires back…

Digital Platform Inquiry on Social media

DIGI, whose founding members include the big platform companies, is calling on the Australian govt to engage in broader consultation as fur flies over the proposed Digital Platform Inquiry changes.

“The longer they take the view that they are just a ‘dumb pipe’ the more intrusive governments and regulators are going to be.”

[Read more]

MANUFACTURING

$50m up for grabs as govt pushes SME manufacturing tech

Industry 4.0 push opens up funding pipeline for manufacturing businesses…

SME manufacturers stand to benefit with a new Manufacturing Modernisation Fund offering up to $1 million each for projects including automation and digitisation.

“The gap between 4.0 leaders and the majority of businesses is substantial.”

[Read more]

5G NETWORK

Huawei calls Trump’s bluff, offers 5G tech for sale

But who would buy?…

Huawei boss Ren Zhengfei has called Donald Trump’s bluff, announcing he’s willing to consider a sale of the company’s 5G patents.

The sale would help create a US rival to compete in the 5G networking market and create a ‘balanced’ situation.

[Read more]

ARTIFICIAL INTELLIGENCE

Why it’s time to stop talking and start preparing for the AI revolution

Even if your organisation isn’t ready to embark on a major AI initiative, it pays to be prepared says 8×8’s Brendan Maree…

Clocked the feverish hype around Artificial Intelligence (AI) over the past year or several? It’s been hard to miss.

When AI technology improves and a compelling use case presents, companies want to be ready to move – fast.

[Read more]

AUTOMATION

AR Automation: The key to collecting payments faster

Even a small improvement in DSO can have a big impact on a business’s financial health…

What keeps CFOs tossing and turning at night? Cash flow is what.

Simplifying customer payment with automation and an online portal directly translates to quicker payment.

[Read more]

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- Heating up the Australian market…

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