NAB has joined the Buy Australian AI Partnership as a founding partner, giving local AI startups a pathway to connect with major enterprises and scale.
The Tech Desk is a contributing writer covering tech and public affairs for The Sydney Times.
NAB has joined the Federal Government's newly announced Buy Australian AI Partnership as a founding partner, establishing a direct pathway between Australian AI startups and major enterprises across banking, insurance and superannuation. The partnership, delivered by Stone & Chalk and supported by the National AI Centre, aims to help homegrown AI companies move from promising technology to commercial deployment.
The initiative addresses a structural gap in the Australian market. According to the Assistant Minister for Science, Technology and the Digital Economy, Dr Andrew Charlton, Australian organisations are making AI procurement decisions now that will carry them forward for the next several years. Those decisions will determine whether Australian AI companies secure the customers, revenue and scale needed to grow and thrive.
The partnership will connect Australian AI startups and scaleups with organisations across banking, insurance and superannuation through an intensive eight-week accelerator focused on commercial readiness. Selected companies will receive expert advice on AI assurance, regulatory requirements, procurement navigation and technology implementation.
Founding partners include Commonwealth Bank of Australia, Westpac Banking Group, ANZ, NAB and Cuscal. The program has attracted backing from across Australia's technology, banking, insurance and innovation ecosystems, demonstrating broad industry support for strengthening domestic AI capability.
NAB Group Executive for Digital, Data and Artificial Intelligence Pete Steel said the partnership would help strengthen Australia's homegrown AI capability. Initiatives like this play an important role in building Australia's AI capability for the future, Mr Steel said. This feels like a real Team Australia moment, where we can come together and invest in the builders of the technology in Australia.
The partnership aligns with the National AI Plan, which establishes a framework for action across government, industry, research and community. The plan aims to capture the opportunities of artificial intelligence, spread the benefits and ensure Australians stay safe. The Government has also signed memoranda of understanding with Microsoft and Anthropic to build on the National AI Plan and support Australian AI businesses.
The Department of Industry, Science and Resources has also announced that Cooperative Research Centres Grants round 28 will be an AI Accelerator funding round, with approximately $50 million available to support at least one new AI CRC that drives the commercialisation of AI by businesses and researchers across Australia. Applications open in 2027.
Sydney is home to more than 1,500 AI companies, according to the Tech Council of Australia. The Buy Australian AI Partnership provides a structured route to enterprise contracts for those startups that have previously struggled to navigate complex assurance and procurement processes. The program's focus on practical commercial readiness, rather than pure technical innovation, reflects a maturing of the local AI ecosystem.
For more context on Sydney tech and ideas, see Tech & Ideas.
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