#USA What was missing from the Australian government’s ‘innovation statement’?




The innovation statement didn’t do enough to address the later-stage funding gap in Australia or stem the ‘brain drain’ overseas, Starfish Ventures co-founder Michael Panaccio says.

The innovation statement, which focused on unlocking capital for early-stage companies, encouraging international talent to come to Australia and two large co-investment funds, was given positive reviews by most of the startup community; with some saying it marks a “new era” for the sector.

But there are still many areas that founders, entrepreneurs and investors think it missed, including the later-stage funding gap, support for entrepreneurs rather than public institutions, and focus on improving gender diversity in tech. Read more…

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