The PWC report on the start-up economy notes ‘Australian tech start-ups are supported by a rapidly expanding ecosystem with strong recent growth in incubators, accelerators and angel groups.
Entrepreneurs today have access to a wide network of support’. The launch of the National Innovation and Science Agenda in December 2015 provides some further tangible steps that directly support growth of new ventures, particularly in new technologies. These range from tax incentives that encourage the flow of capital, introducing an Entrepreneur Visa class, making Government an exemplar in innovation and adoption of new technologies and facilitating risk taking by reducing the penalties of failure through insolvency.
These have generated more interest from angel investors, high net wealth individuals, Venture Capital (VC) funds and institutional investors. With the climate changing to investing and accepting more risk, Australia is a more productive and accepting environment for new businesses and technologies. Australians and aspiring international business people have a world view and are both innovative and entrepreneurial, but in need of capital and business mentoring. Elev8 Ventures can provide these skills and resources to early stage companies and help them develop, create jobs, satisfy needs, and disrupt markets to improve competitiveness in the Australian and global economy.