KPMG High Growth Ventures has announced the five Australian finalists for the KPMG Global Tech Innovator competition. The finalists will present their innovative solutions at a competition in Sydney on 14 August, vying for the title of KPMG Australian Tech Innovator 2024.

The competition, aimed at identifying the world’s most innovative tech startups, saw a record-breaking 155 submissions from Australia. The winner will represent the country at the KPMG Global Tech Innovator final in Lisbon, Portugal, during the Web Summit – one of the largest startup and technology conferences in the world. The event in Lisbon will give the Australian winner a chance to present their solutions to a global audience of 70,000 investors, policy makers, and industry leaders.

Amanda Price, Head of KPMG High Growth Ventures, emphasised the significance of international exposure for Australian startups. “Going global is an imperative and a challenge for Australian startups. The KPMG Tech Innovator initiative helps put founders on the map by showcasing their innovation at the largest tech conference in the world,” she said.

Price added, “We were delighted with the breadth and depth of Australian innovation we saw during the process to select these finalists. Each entry was unique and demonstrated a high level of global potential, making the selection process incredibly challenging.”

The judging panel for the Australian leg of the competition includes prominent figures from the tech and investment sectors: Josh Geelan of KPMG Enterprise, Emerald Scofield of Main Sequence, Jerry Stesel of OIF Ventures, Melissa Widner of Lighter Capital, and Chris Gillings, VC investor at Five V Capital and founder of Cut Through Venture.

The five finalists include Dovetail Electric, Eden Brew, Gelomics, InTruth Technologies, and Sustainable Salons. Each startup has brought forward unique and promising technological advancements.

Dovetail Electric, under the leadership of CEO and Co-Founder David Doral, provides an integrated electric system that converts existing airframes into zero-emission commercial aircraft for regional flights. Their innovative solution incorporates electric motors, battery packs, and hydrogen systems, aiming for a financially sustainable future in aviation.

Eden Brew, co-founded by CEO Jim Fader, uses precision fermentation to create nature-identical casein (dairy) proteins. This process forms casein micelles, essential for nutrient loading, bioavailability, and properties found in dairy products, allowing consumers to enjoy dairy-like sensory experiences without the environmental impact of traditional dairy farming.

The third finalist, Gelomics, led by CEO Christoph Meinert, revolutionises the drug development process by enabling the growth of human tissue in petri dishes. This technology offers a highly predictive alternative to animal experiments and conventional cell cultures, potentially accelerating drug development, reducing costs, and providing safer, quicker treatment options.

InTruth Technologies, founded by Nicole Gibson, develops a wearable-compatible app that tracks users’ emotional states in real-time. The app provides hyper-personalised AI insights, functioning as a personal emotion coach and decision-making tool, aiming to enhance users’ mental health and daily decision-making processes.

Sustainable Salons, co-founded by Paul Frasca, partners with beauty salons to collect and repurpose waste materials such as hair, metals, plastics, and chemicals. These materials are transformed into valuable resources including hair booms for oil spills, soil treatments, and closed-loop plastic products, promoting sustainability within the beauty industry.

The Australian KPMG Global Tech Innovator will be selected based on criteria including innovation and disruption, market potential, customer adoption, marketing buzz, long-term potential, and the quality of their pitch. The winner will be crowned on 14 August in Sydney.