Legislative Council Fifty-Third Parliament, Second Session (53-2) 53 2 Parliament of South Australia Legislative Council published Question Time MassChallenge MassChallenge The Hon. G.E. GAGO Legislative Council MassChallenge The Hon. G.E. GAGO (14:53): My question is to the Minister for Manufacturing and Innovation. Can the minister update the chamber on the Bridge to MassChallenge program? The Hon. K.J. MAHER Legislative Council Minister for Employment, Minister for Aboriginal Affairs and Reconciliation, Minister for Manufacturing and Innovation, Minister for Automotive Transformation, Minister for Science and Information Economy MassChallenge The Hon. K.J. MAHER (Minister for Employment, Minister for Aboriginal Affairs and Reconciliation, Minister for Manufacturing and Innovation, Minister for Automotive Transformation, Minister for Science and Information Economy) (14:54): I thank the honourable member for her question and her ongoing interest in these matters. In fact, I acknowledge the work that she did as minister for science and the information economy in doing a lot of work with the MassChallenge organisation. As minister for innovation, and the honourable member as minister for science, this was something that crossed over both our portfolios. I know we spent a lot of time working on this, talking to MassChallenge and one of the sponsors, Microsoft, about the possibility of bringing this program to Australia. I might also congratulate South Australian jockey Kerrin McEvoy on his second Melbourne Cup win, after riding Brew to win in 2000, a few minutes ago on Almandin from Heartbreak City with Hartnell bringing up third place. I think a lot of people will be interested, particularly the Hon. Andrew McLachlan, who is a stellar better on the Melbourne Cup, I am reliably informed. After visiting MassChallenge operations overseas, I have seen firsthand the innovative approach the organisation takes to help entrepreneurs and start-ups to become competitive and build global markets. That is why the state government has invested $280,000 to bring MassChallenge to Adelaide. We are serious about the innovation agenda. I might also thank the federal government. When they do harm to South Australia—which is very often—I call it out, but on this occasion I know that the former federal minister for innovation and member for Sturt, Chris Pyne, was a big supporter of bringing this program to Adelaide. He also made sure that the federal government contributed funds to do so. The Bridge to MassChallenge program will run from 2 to 4 November in Adelaide, and will bring many benefits to our local entrepreneurial ecosystem. This program will drive innovation and economic development at the local level, and provide opportunities through its networks, leaders and resources. As a US-based, not-for-profit, start-up accelerator program, MassChallenge has already supported 835 companies worldwide and, between them, raised more than $US1.4 billion in funding and generated some $US575 million in revenue, creating an estimated 50,000 jobs. Last night, I had the opportunity to welcome the inaugural 15 participating start-ups in the Adelaide Bridge to MassChallenge program—these are some of the cream of the crop of the South Australian start-up community—at a reception held at St Paul's. Some of those 15 participants included: Kick.it—a start-up that is building an effective, holistic and integrated app to help smokers kick the habit. The app is an evidence-based, research-driven app that is designed with both smokers and healthcare professionals; eSMART 21—which is working on a product that connects smart parking solutions for smart cities; GD Pharma—an innovative specialty pharmaceutical company that improves the lives of patients through improving pharmaceutical formulation and drug delivery. GD Pharma is a small company that is now licensed by the Australian Therapeutic Goods Administration; Group Kinetica—a start-up that seeks to develop and deliver a sustainable horticultural model around which communities can be built and maintained; LEAPIN Digital Keys—which makes locks and buildings 'smart' with smart phone apps and supporting software integration; DriveLight—the team at DriveLight are developing a product that enables the purchase of new cars online without having to haggle on price; KeySafe—which is working on a product to keep children safe online; Freddi—which is developing a system which enables the running of a business hands-free by bringing a whole lot of stuff onto one platform, particularly with cloud-based solutions; myEvidence—which is developing innovative criminal investigation and new software; OpenTute—the team at OpenTute has developed a solution for those who need extra training. They have developed a two-sided marketplace, connecting learners with experts; South Australian Biofuels—which is working on a product that can help reduce fuel costs, and help the environment in the process, to bring the use of this technology right down to a very small scale; Vinnovate—which has developed an on-demand water purification system that works at the push of a button. I think I have spoken in this chamber before about Vinnovate's award-winning wine closure system that has been developed; and, finally, Yup Yup Labs—a smart city start-up that is making people's lives better by improving the cities they live in and the connectedness in their cities. These are some of the 15 finalists from Adelaide. They will be treated to a robust program for the rest of this week and will learn about creating powerful business models, negotiating in business and pitching ideas. Many of these companies talked to me and did their elevator pitch about what their company does, and I think they are well on the way to doing that. I understand there will also be opportunities for networking and meeting Adelaide mentors ahead of the pitching competition on the last day of the Bridge to MassChallenge program. I would like to congratulate all finalists for their hard work as they compete for a spot in the national pitch competition in Sydney to be held on 14 and 15 November. The winners will then be announced at the national awards on 15 November, and these will take part in an advanced five-day boot camp in Boston in February 2017. The top teams from the Boston boot camp will compete for a place in the MassChallenge accelerator program in Boston, Israel, the UK, Switzerland, or Mexico. This is a massive opportunity for these successful start-ups. I have seen firsthand companies like Makers Empire, which have participated in the Boston MassChallenge program, that are now going from strength to strength. They are still based in Adelaide but are selling their innovative 3D printing software and solutions to educational programs not just in Australia but around the world, and particularly in the US. I want to particularly thank the project manager for MassChallenge in South Australia, Dan Smith, who has done a tremendous job preparing the Adelaide boot camp program—a program that I am sure is the envy of many other states. I look forward to keeping the chamber informed on the progress of the South Australian participants as they progress through this world-class program, and also as many of their ideas become reality and they take on the world with these world-class solutions.