💫 Ramplify: December Debrief
Excited for 2025, Lessons from VC, Founder Mental Health
(The Rampersand 2.0 dream team)
👋 Looking Forward to 2025 - by Taryn Pieterse
As we look forward to 2025, we are confident that the Australian startup ecosystem is an incredible place to build startups. With a decade of startup and VC success, an unprecedentedly strong talent, capital, and innovation pipeline exists. We genuinely believe this is the Golden Era for Startups & VCs (check out Rampersand’s 2024 wrap-up). The future is bright. The opportunity is vast.
For Rampersand, our mission hasn’t changed, and we are just getting started. We will continue to partner with exceptional founders who dare to dream big, have the know-how and drive to execute, and strive to be the most valuable investor in early-stage companies.
Before we get there, however, we hope everyone stops to take the opportunity to relax, recharge and take a well-deserved break. We look forward to chatting with you in 2025! Please feel free to reach out if you think we should kick off the start of the year with a conversation.
🗞️ Tech News:
Australia's Regulatory Push Against Big Tech. Australia has proposed legislation that could fine global technology companies up to A$50 million for anti-competitive practices that hinder consumer choice and service switching. The Australian competition regulator would oversee compliance, investigate practices, and impose fines if necessary. The law aims to prevent Big Tech from charging higher costs, reducing choice, and locking consumers into specific products, with an initial focus on app marketplaces and ad tech services.
Amazon's AI Supercomputer Initiative. Amazon collaborates with Anthropic to develop Project Rainer, one of the world's largest AI supercomputers. Equipped with Amazon's new Trainium 2 AI chips, the supercomputer aims to be five times more powerful than current models used by Anthropic. This partnership reflects Amazon's commitment to enhancing its generative AI capabilities, positioning itself competitively against industry leaders like Nvidia, Microsoft, and Google. The initiative also includes the development of Trainium 3, which is expected to offer four times the performance of its predecessor upon its release in late 2025.
OpenAI's Defense Tech Move. OpenAI is partnering with defense-tech startup Anduril Industries to apply AI to military applications. This marks its first significant collaboration with a commercial weapons maker and the U.S. military. The focus is on enhancing counter-drone systems for better detection and faster responses, reducing risks to human operators. Although OpenAI once barred its tech from warfare, policy changes now allow certain military uses, excluding offensive weaponry. This shift reflects a growing trend of Silicon Valley's defence engagement and OpenAI's evolution from nonprofit roots to a profit-driven AI leader tackling high costs.
Strategic R&D Review in Australia. The Australian government has launched a year-long review of its R&D performance, led by Tesla and Tech Council Chair Robyn Denholm. Announced in May’s budget, the review aims to boost commercialisation and economic impact. The panel includes LaunchVic CEO Dr Kate Cornick and former Australian of the Year Professor Fiona Wood. Industry Minister Ed Husic called it vital to reversing a decade of R&D decline. Goals include driving industry innovation, improving coordination, and boosting competitiveness. The Tech Council says better R&D could add $167 billion to GDP by 2035.
ChatGPT Outperforms Doctors in Diagnosis. A study in JAMA Network Open found ChatGPT-4 outperformed doctors in diagnosing complex cases, scoring 90% versus 76% for doctors using it and 74% for those without it. Fifty doctors reviewed six cases, but many under-utilised ChatGPT, treating it like a basic search tool. The findings highlight AI's potential as a "doctor extender" and the need for better training to maximise its diagnostic capabilities. Things are going to get weird.
🛠️ How to Startup:
Five Tips to Secure a Startup Job. Landing a role at a billion-dollar startup requires unique preparation, alignment and adaptability. Insights from Canva, Culture Amp, and our very own Adam Jacobs (co-founder of Hatch & The Iconic) highlight these key strategies:
Embrace Unique Challenges: Canva's hiring process includes the "Canva challenge," coding tests, and case studies. Startups often use creative assessments to identify candidates who excel under ambiguity.
Align with Mission and Values: Show passion for the company’s goals with compelling examples. Ask thoughtful questions about its objectives during interviews.
Network Effectively: Connect with employees or recruiters on LinkedIn and attend events to gain insights into company culture and hiring processes.
Follow Venture-Backed Startups: Target companies backed by top VCs, as they often experience rapid growth. Check VC job boards like Rampersand's for opportunities.
Show Ownership and Flexibility: Highlight examples of taking initiative, handling ambiguity, and going beyond your role in past experiences.
With these tips, candidates can stand out and thrive in dynamic, fast-growing environments.
The Power of the "Reverse Demo". Alex Lindahl, Clay's GTM Engineer, introduced a new B2B demo approach focused on customer engagement and problem-solving. Here’s how it works: Flip the Script, Hands-On Engagement: Deliver Immediate Value.
👕 VC in Australia/New Zealand:
Six Months In: Lessons From Venture Capital. Rampersand’s Chief Ramplifier, Chanie Hyde, shared her reflections after transitioning into VC after spending a large portion of her career within the world of startups. Her key takeaways were:
Founders First: Every pitch is a privilege. Curiosity and constructive feedback are essential to uncover hidden gems.
More Than Capital: Value comes from networks, advice, and tailored support, not just funding.
Skills Balance: VC requires both technical expertise and strong relationship-building.
Networking is Non-Negotiable: Events and coffee chats often lead to the best opportunities.
AI Matters: Startups embracing AI for human-centric innovation are standing out.
Diversity is Critical: With only 4.3% of Australian startup funding going to women-led ventures, much work must be done.
Founder Mental Health Research. Warp + Weft Consulting is researching to shed light on mental health challenges faced by founders and their willingness to discuss such issues with investors. The survey aims to break stigmas and develop actionable solutions for a healthier startup ecosystem. Warp + Weft is seeking founders and investors to participate in an anonymous, short 5-6 minute survey, with results to be published early next year.
Founders can contribute their insights here.
Investors can share their perspectives here.
🤩 Portfolio News
Trying To Save Hospitality Industry. Restoke has been in the spotlight with features in The Australian and Forbes Australia. On the Unicorns Podcast, co-founders Assaf Stizki and Ken Brand discussed their journey in building Restoke.ai, a restaurant intelligence platform transforming hospitality operations through cutting-edge machine learning. In a Forbes feature, they unveiled their $5M funding round aimed at expanding internationally, a much-needed boost for an industry facing significant challenges.
First Purchase of QB’s Accelerator. Quantum Brilliance achieved a major milestone, announcing the first purchase of its room-temperature quantum accelerator in Europe. Unlike traditional quantum systems requiring massive refrigeration, Quantum Brilliance uses synthetic diamonds to deliver scalable quantum power in any environment. This breakthrough paves the way for more accessible and sustainable quantum computing powered by NVIDIA CUDA-Q.
Window into Carbon. Matrak is making waves in sustainable construction with its new partnership in China. The Melbourne-based company provides real-time, transparent carbon footprint data from a network of 30,000 manufacturers. This innovation brings unprecedented clarity to the supply chain, empowering the construction industry to meet evolving sustainability goals.
💼 Portfolio Job Board
Senior Sales Representative at Restoke.ai
Location & type: Austin, Texas
What they do: Restoke is revolutionizing the hospitality industry through our innovative all-in-one management platform. We empower restaurants and bars to boost profitability through intelligent team management, real-time food costing, automated inventory control, streamlined purchasing, and comprehensive financial monitoring.
What you’ll do: Own the complete sales cycle from lead qualification to close, emphasising consultative selling and bringing B2B sales expertise and hands-on restaurant industry experience together.
Software Engineering at Cuttable
Location & type: Melbourne, Australia
What they do: Cuttable is an innovative B2B SaaS startup revolutionising how the world's biggest brands create high-quality, beautiful video ads in seconds.
What you’ll do: We're seeking candidates with extensive experience in contemporary cloud systems (preferentially AWS, though GCP/Azure backgrounds are welcome with willingness to transition to AWS), along with proven expertise in both Backend (Node.js) and Frontend (React) development, proficiency in serverless technologies (DynamoDB, S3, SQS, and Lambdas), strong Typescript/Javascript skills, and ideally Step Functions knowledge.
Do you have a job you’d like us to promote? Add it to Hatch and share the link with us.
See all jobs across the Rampersand Portfolio.
🌏 Rampersand Travel Diary:
Watch this space for 2025!
🎉 Upcoming Events:
Also, watch this space for 2025!
Thanks for being part of the Rampersand Community! You can stay updated with even more news and info on our LinkedIn and X/Twitter pages.