Posts Tagged ‘NBN’

Australia’s National Broadband Network could lead to boom for online startups

Tuesday, June 25th, 2013

As Australia continues to roll out its $38 billion National Broadband Network, which will bring high-speed internet to almost all the 23 million population of the country, some government higher ups are predicting a boom in online and high tech businesses.

“As the rollout of the NBN continues, the capacity for start-up companies, particularly in the tech and digital sectors, to create game-changing businesses and applications is unprecedented,” said Communications Minister Stephen Conroy, recently.

Currently, online and high-tech start-ups only account for about 0.1% of GDP and 9,500 jobs. But the sector is growing rapidly and a recent report by PricewaterhouseCoopers (PWC) suggests it could account for 4% of GDP and 540,000 jobs by 2033.

The rise of young startups has seen them start to populate the ranks of the Business Review Weekly Young Rich List, which ranks the wealthiest people in the country under 41.

The list includes 24 tech and online startup company founders, including: software entrepreneurs Mike Cannon-Brookes and Scott Farquhar at the top; PC Tools founder Simon Clausen at No. 4; serial entrepreneur specialising in online retail sites Ruslan Kogan at No. 8; Bigcommerce founders Mitchell Harper and Eddie Machaalani at No. 10; and founder Matt Barrie at No. 50.

To read more on this story, click here.

National Broadband Network one step closer

Friday, February 11th, 2011

SMH reports today that Telstra and the NBN Co have hammered through another part of the national broadband network deal today.

The “key commercial terms” have been announced, so Telstra now has the green light to shut down the copper network and share its infrastructure with the NBN Co.

Now, the Telstra shareholders will need to vote on whether to proceed with the deal, with the vote to take place earlier than July.

Telstra itself will be hoping for a ‘yes’ vote, given that its recently released half year financials showed a 36% profit decline.