A joint AUSTRAC and Australian Criminal Intelligence Commission (ACIC) proposal was one of the winners of the Department of Industry, Innovation & Science's BRII. Small and medium enterprises (SMEs) were invited to solve our challenge 'tracking the effect and value of information products'.
After a busy and productive feasibility study stage with four shortlisted entrants, the final two SMEs for the proof of concept stage are HoustonKemp and Atraxium. Their knowledge of information sharing and novel solutions resonated with our judging panel.
Our finalists will develop solutions for AUSTRAC and ACIC to explore how we could use technologies like blockchain to sharpen the value and quality of intelligence products—for example, by capturing user feedback, sharing insights, tracking and evaluating information use, and enhancing security and records management.
Over the next 12 months, the two finalists will work with AUSTRAC and ACIC to achieve project milestones and result in finalised proofs of concept to solve our challenge. This is a great opportunity for collaboration between government and the private sector.
BRII allows SMEs to develop innovative products, services and solutions with genuine commercial potential. Government agencies then have the option to purchase those solutions. This gives the SMEs a commercial income, the ability to grow with a global mindset and the opportunity to compete with larger organisations.
The full list of proof of concept grant recipients is on the Australian Government’s Business website.