New businesses and technologies from overseas are being brought into Victoria with Singaporean deep-tech startup company Seventh Sense set to establish an artificial intelligence (AI) research and development hub in Melbourne. 

Minister for Trade and Investment Tim Pallas, who is meeting with business leaders across Southeast Asia as part of a trade and investment mission, states that the agreement is part of the Victorian Government’s plan to attract investments from companies that will create valuable local jobs. 

“Victorian startups are creating the next generation of jobs – it’s critical we also attract dynamic companies from around the world to complement and bolster local companies and further drive growth,” Minister Pallas said. 

“Tech is big business in Victoria, and it’s exciting to see companies like Seventh Sense recognise the possibilities and opportunities we’ve created here.” 

Minister Pallas’s trade and investment mission in Singapore focuses on building connections between Singapore and Victoria’s booming start-up sector – with Singapore recognised as one the most innovative cities in the world. 

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The new investment will create over 20 highly skilled jobs in three years, with Seventh Sense attracted by Victoria’s thriving tech ecosystem, international R&D capabilities and skilled workforce. 

Seventh Sense, which specialises in AI-based computer vision and cryptography for defence, security, fintech and retail, will establish the R&D Hub for the company’s development of new technologies and commercialisation. 

To respond to a growing demand for innovation across Asia and ANZ, a team of engineers and scientists will undertake research and product development. 

The Singaporean startup plans to collaborate with Victorian universities to explore opportunities and develop new technologies to solve industry problems. It will also help create potential pathways for internships or graduate positions at the company. 

“Our shared vision and support from the Victorian Government is a winning combination,” Seventh Sense co-founder Ashish Kushwaha said. 

“The R&D Hub will fast-track the development of our innovative technologies and allow us to access highly skilled talent to grow further.”  

Seventh Sense has strong lead investors such as Cap Vista, the strategic investment arm of Defence Science and Technology Agency, a statutory board under Singapore’s Ministry of Defence, and 500 Startups. 

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Aside from Singapore, Minister Pallas is also bringing the trade and investment mission to Vietnam and Indonesia. 

As the state’s early-stage startup ecosystem value has more than doubled in the last year, the Victorian Government continues to support elite startups as they innovate, expand and create new jobs through initiatives such as the $2 billion Breakthrough Victoria fund.  

Startups are driving significant jobs growth in Victoria, with the sector supporting more than 53,000 jobs 

Source: Premier of Victoria media release. Content has been edited for style and length. 

Eliza Sayon

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Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.

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