Business Research and Innovation Initiative Regtech Round
The Australian Government is providing up to $10 million in grant funding to Australian startups and SMEs to help bring their big ideas to market.
This money is available through the Business Research and Innovation Initiative (BRII), an Australian Government program.
Through BRII, the Department of Industry, Science, Energy and Resources are seeking innovative solutions to four government challenges focussed on regulatory technology (RegTech). Applications are closed 17 June 2021.
For more information about the BRII go to business.gov.au/brii.
ASIC Regtech Challenge
ASIC’s BRII challenge seeks to use technology to help identify and assess poor market disclosure by listed companies. Details of the BRII challenge include:
- Seeking an innovative technology solution to help analyse corporate disclosures and other datasets to identify and assess compliance by listed companies with a range of requirements.
- Regulatory activity includes manual review and assessment of various documents and materials related to capital markets and financial services.
- A need to explore the potential of integrating various technology-assisted functions into a single service or functionality.
- The successful solution will deliver a more efficient and effective way for ASIC to supervise and enforce conduct of business, disclosure and reporting obligations of listed companies.
If successful in receiving this grant, start-ups and small-to-medium enterprises will have the chance to work closely with us to create a product that could be commercialised.
At the end of the challenge, the SME will retain intellectual property rights and the right to sell your product in domestic and global markets.
To find our more about the ASIC challenge, read through the ASIC challenge factsheet linked here.
ASIC BRII Webinar
To help potential applicants, ASIC joined the Department of Industry, Science, Energy and Resources to outline its challenge Tuesday 4 May 2021. The webinar was divided into three parts:
Part 1: Information about the Business Research and Innovation Initiative – Regulatory Technology round (BRII).
Part 2: What technology solutions may be suitable to solve this Challenge?
Part 3: Q&A Session
In addition to the information provided on the BRII page, we have collected a list of technical guidance for applicants to consider in the process of drafting their submissions.