While AUKUS might hog the headlines, across Australia new start ups and dual use pivots are starting to reshape the Defence Industrial landscape… ⬇️
The Australian Financial Review has a great read on the sovereign success story that is Gilmour Space. While Gilmour space has already hit Unicorn status, investor interest in this Australian sovereign space start up has skyrocketed ever since SpaceX’s IPO. But a different perspective caught our eye – how the Moretti multiplier and emerging Defence -Tech neo primes and Unicorns are reshaping the regions:
“Amanda Andriano, founding partner of Gold Coast venture capital firm Admiralty Capital Group, describes Gilmour Space as an example of the Moretti multiplier in action, referring to research by economist Enrico Moretti that found that each high-value innovation job creates additional jobs across the local economy ‘When you have an anchor organisation doing extraordinary things – like Gilmour has done for the space economy here on the Gold Coast – jobs will start to form, people will spin out, and they’ll start to form their own ventures'”
It isn’t just Gilmour Space contributing to an emerging Defence Tech and Dual Use ecosystem on the Gold Coast. The Queensland Government’s Sovereign Industry Development Fund (SIDF) has made an investment in enabling our portfolio company Arkeus to build an advanced manufacturing site on the Coast. Defence Connect interviewed Arkeus Founder and Chief Executive Simon Olsen on new facility:
“Arkeus is just getting started on the possibilities for defence technology that can help drones and other unmanned craft to see, understand and act… Thanks to SIDF, we are establishing this advanced manufacturing facility on the Gold Coast that will include new production and repair capabilities for our specialised AI-powered optical sensors. Our new Ormeau facility will allow us to significantly scale manufacturing, meet growing demand from Australian and US defence agencies, and support the next stage of Arkeus’ growth.”
Of course when it comes to Defence and National Security, start ups and new entrants face the challenge of getting access to infrastructure. The physical and cyber security barrier to entry is certainly real and whether it is a secure WeWork or a Defence and Industry multi use depot, there has to be a better way.
Perhaps it is also time for Defence to be more strategic with Groups and Services – particularly those parts which deal with Capability Development, Procurement and Delivery. Instead of taking up yet another tenancy in Canberra, why not leverage locations with emerging industry eco systems and a lifestyle that will aid recruitment and retention? We’ll leave the last word to Simon Olsen:
“We see enormous opportunities to strengthen Queensland’s sovereign capabilities in advanced manufacturing for the defence sector, to grow export markets and create skilled local jobs.”
📷 via Gilmour Space