Funding News
- OptimHire Secures $5 Million to Revolutionize Recruitment: AI-driven hiring platform OptimHire has raised a $5 million seed round led by Mucker Capital. The funds aim to enhance their AI agent, OptimAI recruiter, which automates candidate sourcing and interview scheduling, reducing hiring times and costs. In 2024, OptimHire facilitated 8,000 hires.
Government Policies
Australia’s ‘Future Made in Australia’ Manufacturing Policy: In April 2024, the Albanese government announced a $22.7 billion initiative over a decade to bolster domestic manufacturing in sustainable energy sectors. The policy includes a $1 billion ‘Solar Sunshot’ program to support solar panel manufacturing and a $566 million ‘Resourcing Australia’s Prosperity’ initiative for geomapping mining resources.
Australia’s News Bargaining Incentive Scheme: On December 12, 2024, the Australian government introduced the News Bargaining Incentive scheme, requiring tech platforms with annual revenues over AU$270 million to pay a fixed charge to the government or enter into direct deals with news publishers. This move aims to strengthen the bargaining power of news publishers and ensure fair compensation for content.
Big Decisions
Germany’s Shift in Start-Up Investments: Despite a stagnant economy, Germany’s start-up ecosystem secured approximately €7 billion in funding in 2024. Investments have shifted from consumer-oriented models to B2B start-ups, particularly in industrial and manufacturing sectors. This trend has benefited regions like Bavaria, surpassing Berlin in total investment value.
UK’s SME Lending Review Amid High Debt Levels: The UK government has launched a review into small and medium-sized enterprises (SMEs) lending, as repayment levels remain 20 times higher than pre-pandemic levels. The review will examine current finance demand, methods to enhance private sector funding, and growth barriers for marginalized groups.
FTC’s Ban on Non-Compete Clauses: In April 2024, the U.S. Federal Trade Commission (FTC) ruled to ban virtually all non-compete agreements nationwide, aiming to allow workers to seek better opportunities and improve working conditions. However, in August 2024, a federal court in Texas overturned the FTC’s ban, stating the agency lacked the authority to issue such a broad prohibition.
