Breakthrough Vic saga, FMiA update & Slice's US expansion

SummaryIn this week's episode of The Startup Retro, hosts Will and Gemma discuss the latest developments in the Breakthrough Victoria saga, including the departure of its CEO and ongoing legal battles with a founder. They also provide an update on the progress of the Future Made in Australia (FMiA) legislation, which is currently being debated in parliament. The hosts then cover the release of Australia's updated National Science and Research Priorities, focusing on key areas like net-zero transition and Indigenous knowledge systems. In addition, they highlight two new funds deploying capital into Aussie startups and feature their favourite startup raises of the week. To top it off, Gemma and Will interview Slice co-founder Farouk Ismail, who shares insights on their decision to take international funding and offers advice on expanding into the US market. The episode concludes with their Knowledge as a Service (KaaS) podcast recommendations.Time Stamps00:00 Introduction and Welcome01:12 Breakthrough Victoria CEO Departure & Legal Battle06:48 FMiA Legislation Update10:42 National Science and Research Priorities Release15:25 New Funds - CoVentures & Proto Axiom21:13 Weekly Startup Raises27:50 Interview with Slice Co-founder Farouk Ismail43:21 KaaS Recommendations48:12 OutroHeadlinesBreakthrough VictoriaCEO exits amid ongoing legal battle with a founder.FMiA UpdateHeated debate continues in parliament.The government could proceed with the funding regardless of the legislation’s outcome.National Science and Research PrioritiesMinister Ed Husic outlines new imperatives for science investment in Australia.Key focus areas include transitioning to net-zero, supporting healthy communities, elevating Indigenous knowledge systems, environmental restoration, and national security.New FundsCoVentures, a single-GP fund managed by Maxine Minter, closes its first fund with $5M+. (Listen to Maxine’s show, First Cheque on the Day One network.)Proto Axiom emerges with new capital to deploy into Australian startups.Startup RaisesGemma's Pick: aglowFounders: Jo Blundell and Karl Margrain$1.25M raisedAglow is helping beauty businesses implement membership programs, moving them away from pay-as-you-go models towards predictable, recurring revenue streams. With 600+ salons onboarded and $16M in ARR, they are leading a shift in the beauty industry.Will's Pick: DeCariceFounders: Goran Bozic and Professor Shawn KookPre-seed raise from Investible’s Climate Tech FundDeCarice’s hydrogen injection technology is cutting carbon emissions by 85% in heavy-duty diesel engines, offering a scalable decarbonisation solution for mining and transport industries.InterviewSlice's Farouk IsmailFarouk shares why Slice chose international funding and offers essential tips for Australian startups looking to break into the US market.KaaS - Knowledge as a ServiceGemma's Pick 💁🏻‍♀️: Diaspora.nzA podcast showcasing the Kiwi expat community, hosted by David Booth, featuring conversations with founders, innovators, and emerging leaders.Will's Pick 💁🏻‍♂️: The Startup PlaybookA live recording of Leigh Jasper’s interview with Rohit from The Startup Playbook, featuring insights on growing a successful startup.Send feedback to the hostsGemma on LinkedInWill on LinkedInSponsorsThanks to our sponsors for helping to make this episode of The Startup Retro possible.RipplingAre you a founder overwhelmed by HR, payroll, onboarding, and IT tasks? Simplify with Rippling: an all-in-one platform for your global workforce.Get 3 Months Free TeamifiedBuild a top-notch team fast with Teamified. Teamified offers fractional CTOs, contractors, and remote team members from the Philippines, India, or Sri Lanka. Cut hiring times by 50%.Get started The Day One NetworkThe Startup Retro is part of Day One, the podcast network dedicated to founders, operators & investors.For broader updates on the Day One network, including news about other shows and network-wide updates, sign up for the Day One Newsletter. We are dedicated to creating content that helps Australian founders succeed.Sponsor the showWant to become a sponsor? Send us an email.Follow Day One on the socialsTwitterLinkedInThis podcast uses the following third-party services for analysis: Podtrac - https://analytics.podtrac.com/privacy-policy-gdrpSpotify Ad Analytics - https://www.spotify.com/us/legal/ad-analytics-privacy-policy/