The Business Council of Cooperatives and Mutuals head has said the current Covid-19 pandemic has demonstrated the value of co-operatives and the opportunity for Australia to reshore manufacturing lost overseas in recent decades.
The economic heart attack induced by COVID-19 has revealed an ugly truth – many very large companies have too little cash to ride out sharp downturns.
A South Australian company that is building a manned multicopter to compete in its flying electric car racing series has secured seed funding from leading technology venture capital firms.
Industry minister Karen Andrews has announced the federal government’s $31.3 million agreement with a consortium led by Grey Innovation, which is expected to produce 2,000 invasive ventilators by the end of July to support patients during the Covid-19 pandemic.
Last Tuesday, when the Prime Minister announced the government would subsidise six million jobs for six months to the tune of $1,500 a fortnight, the nation’s economists were left speechless.
AMTIL, the peak body for manufacturing technology suppliers and users, has added itself to the list of voices requesting that manufacturing be designated an essential industry during the Covid-19 pandemic.
Around the world, people are racing to design and manufacture much-needed ventilators to address a global lack of supply. One New York hospital has reportedly attempted treating two patients per ventilator out of desperation.
Nanosatellite business Myriota has announced a $28 million Series B funding round, with Hostplus and Main Sequence Ventures as lead investors and all Series A backers participating in the raise.
South Australian companies are ramping up hand sanitiser production to fill local shortages.
I strongly believe manufacturing is an essential service. We now have over 1500 companies that have signed up to the Covid19 National Manufacturing Response. That’s over 1500 Australian manufacturing companies putting their hand up to say “We’re ready, willing and able”.