Australia failing to recognise its own entrepreneurs

Australia is transforming its reputation to being a world leader in innovation, but we still don’t recognise companies who are on the cutting edge

While the Federal Government has pledged over a billion dollars in the next four years – as part of the ‘ideas boom’ – to promote business-based research, development and innovation, there remains little recognition for home-grown innovation.

Whilst Australians no longer feel the need to go overseas to create their success, they still aren’t recognised for the work they’re doing here.

Australia is transforming its reputation to being a world leader in technology, but we still don’t recognise companies who are on the cutting edge.

The combination of cutting-edge innovations that began with the likes of Freelancer to the 30 tech companies that listed in Australia last year, to the listing of Atlassian in the US at the end of last year, has led to a new influx of investing in tech start-ups in Australia.

The Prime Minister says unlike a mining boom, our innovation agenda, is a boom that can continue forever, that’s limited only by our imagination.

Just this month a major fund, Signal Ventures, was launched. Early stage Australian tech startups will benefit from the $10 million venture capital fund backed by US and Australian investors.

Venture Capital firm OneVentures launched a $100 million fund at the end of last year, and global start-up funds like TechStar and Foundry Group are now getting into the Australian Market.

Investors are looking outside the US and Europe for investments, and Australia is one of the most attractive markets to invest in.

But what is being done to recognise the great work of entrepreneurs in the Australia?

Australia has access to the Asia market, it has a well regulated market in the ASX with the opportunity of reverse listings of mining companies and it has the largest pool of investible funds of any country in South East Asia – $1.6 trillion assets under management.

The US and Europe have many awards and events to recognize and celebrate the new businesses and entrepreneurs that are born each year, Australia is just tapping into this trend.

Roger James Hamilton, Futurist – Founder, Entrepreneurs Institute

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