Australia continues to build on the fundamentals to support a thriving homegrown startup ecosystem, with a rapidly growing cohort of $100 million+ companies and the average Series A (later stage funding round) almost doubling in size since 2015, according to Crossroads 2020
Despite a welcome injection of $60 million over 3 years to the Export Market Development Grant, StartupAUS described the recently announced Budget as a ‘missed opportunity’ to provide strategic vision on the role technology will play in Australia’s economy. StartupAUS CEO Alex McCauley said, “Tonight the Treasurer launched his Budget with a message of strong…
Five years after the formation of StartupAUS in 2013, Australia has the fundamentals in place to support a flourishing startup ecosystem, yet significant challenges remain including talent shortages, constrained research and development support, and a cooling attitude toward technology among voters and politicians.
The private sector led, NSW Government-backed Jobs for NSW is calling on business accelerators, incubators and other start-up partnering services to sign up to the new Sydney Startup Hub, which it’s hoped will rival similar venues around the world.
Australia is well-placed to capitalise on the strong growth seen in its fledgling startup sector, but some significant barriers remain to enjoying a truly world class startup ecosystem according to StartupAUS.
StartupAUS, supported by FinTech Australia, StartupWA, StartupTas, TechSydney, Startup Adelaide and Startup Victoria, proposes recommendations to the Federal Government review that would see the scheme enhance its investment in innovative, high-growth businesses.
“The paper highlights the extensive economic benefits of building innovation hubs which have powerful multiplier effects. There’s a lot at stake here – if we get it right, we’ll be able to capitalise on it”
StartupAUS welcomed the Federal Government’s early-stage investor tax incentives introduced to Parliament in mid March, saying it’s a huge win for start-ups
StartupAUS, Australia’s peak advocacy group for start-ups, recently released its report on the outcomes of the Federal Government’s innovation Policy Hack.
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