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Startups in Australia

Discussion in 'Business & Startup Investing' started by Player, 21st Sep, 2016.

  1. Player

    Player Member

    15th May, 2009
    Not sure who is investing in startups at present or looking at this space for potential future investments, whether as angels finance or through follow on rounds of funding.

    Here's an interesting article for both investors and those on the founder side of the equation.

    It highlights some of the shortcomings that are present here compared to places like San Francisco.

    ".....................In short, here is where we fall short compared to Americans:

    • We tend to underplay our achievements and our businesses
    • We hold our connections tight to our chest, rather than openly offer them up to help others
    • We are secretive about our business ideas, thinking that others will steal them, rather than believing that ideas are cheap and execution is everything
    • We typically only have meetings that have a specific agenda, rather than meeting to explore and see how we might help or collaborate
    • We lack the “pay it forward” attitude that is pervasive in Silicon Valley
    • We are more transaction-focused than relationship-focused in our business dealings
    • We operate with distrust as our default position, rather than trust. This results in a high cost of transaction which is counter-intuitive to the way startups need to operate
    • Australian business often has a lack of a sense of urgency. This is in part because we have a much less competitive market than the US. Aussie startups often under-estimate the lost opportunity by moving too slowly
    • We are much more focused on having a great lifestyle than we are on being successful
    Cultural change is not a fast process; but with a concerted approach towards changing it, it is possible. Without this change, Australian startups will always start on the back foot............"

    Where Australia sucks for startups and what needs to be done to make the ecosystem shine - StartupSmart

    Keen to hear from others looking at this space.