2024 in review: The people, projects, and progress that defined the year
Innovation doesn’t happen in a vacuum. Progress against the world's most pressing challenges is made by those who dare to try, fail, and push harder.
Innovators who live on conviction (and coffee); teams that have the courage and conviction to back themselves, and bring others on the journey.
As we close out 2024, it’s the perfect time to take a moment to reflect on the incredible progress and countless milestones Stone & Chalkers have achieved over the last 12 months.
From our position as Australia’s most recommended startup support organisation, here’s how we defined the year, together.
Going further, faster
Stone & Chalk innovators achieved remarkable results this year with over 60% of companies nationally reporting significant growth and accelerated progress along the founder journey.
Here’s just a snapshot of some of the many noteworthy achievements:
In Adelaide, telecom startup Zapme launched their product which helps travellers communicate abroad, while agtech startup Cropify secured $2 million in funding to grade grain with technology, saving farmers money and cutting carbon emissions.
Showcasing the strength of space in South Australia, Blue Dwarf were finalists for Startup of the Year and have raised $750,000, supporting them to help companies manage the complex regulations of launching satellites and rockets into space.
In Melbourne, Element Robotics reached new heights by delivering their design for Australia’s first lunar rover.
FrankieOne, who help finance businesses verify customers and prevent fraud, took home the title of Fintech Organisation of the Year at the 2024 Finnies Awards, and Pathfindr earned a coveted spot on the AFR’s Most Innovative Companies list for 2024 by helping businesses use AI to solve problems and work better.
Sydney-based innovators shone just as bright. Locad raised $9 million in pre-Series B funding to help handle storage, packing, and shipping for online orders, and Mary Technology raised $1.35 million to automate the complex task of legal chronology drafting, saving hours of manual work.
On international fronts, Quantum Brilliance landed a multi-million-dollar contract with Germany to develop the world's first mobile quantum computer, taking quantum computing out of the lab and into the real world
Other standout achievements this year include some big acquisitions, with Sitemate’s $2 million acquisition of Nomad, and Yondr Money expanding their portfolio with nano-gifting platform Shouta, which cuts the hassle from corporate gift giving.
We also saw the emergence of young talent, with Build Club raising $1.75 million to establish an AI talent training campus. Founder Annie Liao also earned a spot on the Forbes Australia 30 Under 30 list, and was joined by Sam Crowther of Kasada (who protects people from bots), and alum Grace Brown of Andromeda Robotics (who has built robot companions for older Australians).
For every one of these major achievements, there were countless backstage victories – new customers, new ideas, better systems – each and every day.
Growing the Australian economy through innovation
Startups and scaleups, including alumni, at Stone & Chalk have collectively raised over $3.9 billion since our inception.
Our current companies now employ over 4,500 people, and have created over 500 new direct Australian jobs in the last 6 months, alone. These are roles that didn’t exist before, engineers, product managers, marketers, and customer support specialists. And as research shows, each new high-tech job generates a ripple effect, creating five additional jobs in the economy.
These are people who wake up every day ready to solve problems, build solutions, and create value for their community.
This year also reaffirmed Stone & Chalk’s position as a leader in emerging technologies, with top sectors for Stone & Chalk now including areas such as Space, Quantum computing, Climate tech and Artificial Intelligence.
It takes a village
Reflecting on activity across Stone & Chalk in 2024, we see a community that’s more connected, innovative, and resilient than ever before.
Across Adelaide, Melbourne, and Sydney, we’ve held over 600 events to bring people together to share ideas and build relationships.
In addition to rituals that connect the community we continued to double down on growth programs and support in areas such as Enterprise Sales; People & Culture; and Product-Market Fit.
Importantly, the community also came together in new ways to address the challenges many founders face but rarely discuss – stress, mental health, and physical wellbeing.
A community of collaborators
Behind the numbers lies something just as important but less tangible: community.
There’s often a public image or perception of the sole genius – the founder who goes it alone. But we see time and time again that this is, for the most part, a myth.
There are connections being built every day – founders sharing advice, introductions being made, and lessons being learned over coffee or an afternoon brainstorming session. They are the glue that brings success to life and holds the community together.
It’s why we are such a believer in partnerships. This year, we strengthened ties with organisations that believe in the same mission. Some examples include;
KPMG is working alongside us through the Future Tech Program, helping startups bring their ideas to market while solving real problems for their clients. Build Club is on a mission to make AI something everyone can use and understand, so they can benefit from its potential.
SA Water were exposed to innovators and innovation culture for their team with 6 onsite visits, and the SA Space Industry Centre energised our space ecosystem with 4 town halls, showcasing how precincts like ours are drivers of collaboration. To help our startups with financial management, we also brought in expertise with CAANZ, our visiting Chartered Accountants in residence.
We’ve also partnered to deliver major programs, including with the National AI Centre (as part of Australia’s national science agency, CSIRO) and Google Cloud for Australia’s AI Sprint, and sponsored the National Missing Missing Persons Hackathon, which partnered with the Australian Federal Police.
These organisations support an ecosystem that thrives on shared vision, collective action, and unwavering support. When we work together, the possibilities are endless.
The road forward into 2025
As we reflect on this year, we’re proud of the growth, energy, and momentum. But we also know the work isn’t done. Innovation never slows down, and neither will we.
When you zoom out, the milestones achieved in 2024 happened because founders trusted us to support them in their growth.
Our commitment remains clear: to accelerate a sustainable technology-driven future for Australia by supporting the people, ideas, and businesses shaping it.
As we head into the next year, the focus remains on growing our impact by helping founders go further, faster.
When innovators succeed, they create jobs, solve meaningful problems, and move the economy forward. Here’s to an even bigger, bolder, and more connected 2025.
What would you build if you knew someone had your back? At Stone & Chalk, that’s the question we’re here to answer. We’re here to help innovators go further, faster. Whether you’re a founder just starting out or a scaleup looking to expand, there’s a place for you in this community. Great starts here. Join us at Stone & Chalk.
