Start-ups solve supply chain problems through Future Technology Program

Inside Small Business

12th Dec 2022

KPMG Australia and Stone & Chalk Group have joined forces to launch the Future Technology Program, which aims to supercharge the growth of homegrown Australian start-ups building supply chain solutions.

The program was developed in response to the ongoing supply chain issues facing businesses. In Australia alone, 75 per cent experienced significant supply chain disruptions over the past year, according to internal KPMG research, compounded by limited valuable data, insufficient risk management and a fundamental lack of agility among many businesses.

“Creating more resilient, more transparent, and more sustainable supply chains is one of the most important challenges of our time,” Sarah Vega, National Managing Partner at KPMG Futures, said. “The Future Technology Program helps us to uncover new innovative technology for our clients, who are hungry for solutions but often struggle to engage with start-ups in a positive and meaningful way.

“KPMG is thrilled to be bringing together this diverse cohort of exceptional entrepreneurs who are building new technology to drive real change for producers, for companies, and, importantly, for the planet,” Vega added. “These five start-ups are bringing trust, verification, transparency and efficiency to supply chains in a way that is critical to the future agenda.”

Program participents will receive a personalised support program to help their businesses rapidly grow and scale. This includes residency for 12 months at one of Stone & Chalk Group’s start-up hubs located nationally in the heart of Sydney, Melbourne and Adelaide. They will also be provided access to a tailored support program from KPMG and Stone & Chalk covering topics such as investor readiness, industry insights, connections to potential clients, and mentoring on how to sell to large, global companies.

These five start-ups were selected as the initial participants in the program:

• Adiona: Helping to move people and goods more efficiently through the implementation of AI and commercial mathematics in the cloud that can offset the programs urbanisation presents.
• Cynch: Helping small businesses prevent cybersecurity incidents by working closely alongside them, continuously profiling their business to develop strong and robust cyber fitness.
• Givvable: Helping businesses meet their sustainability and ESG targets faster through fit-for-purpose insights.
• Versed AI: Developing a Natural Language Processing technology to help organisations, of all sizes, identify the true scale of their supply chain.
• Zondii: Working to provide a real-time smartphone verification and validation solution for the food and fibre industry.

“I am thrilled to celebrate the Future Technology Program 2022 winners. They are a distinguished group of founders that represent the next generation of emerging supply chain tech in Australia,” Stone & Chalk Group CEO, Michael Bromley, said. “It is also hugely encouraging that four out of five of the start-ups selected are led by female founders. We look forward to working hand-in-hand with KPMG to help these companies realise their ambitions, by providing access to a community that comes together to advocate and encourage one another in a way not possible anywhere else in Australia.”

The program will be opened for the next round of participants in February 2023.

The story was originally published on Inside Small Business.