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I still think there's a very long way to go for Australians. If the US VCs decide to stop visiting, it's back to zero again. There's no reason why a home-grow
by brc 15y ago
I still think there's a very long way to go for Australians. If the US VCs decide to stop visiting, it's back to zero again.
There's no reason why a home-grown community can't be grown, rather than a SV outreach program. There's enough cash in Australia, enough smart people, enough regions with nice weather. But the risk-taking and open-minded parts are going to take a while to develop. Hopefully over the next decade things will develop further. I think what's needed is one or two massive wins (ie billion dollar valuations or exits) then the money stays here and goes around again.
- asharp 15y agoWe have a thriving VC community in Aus, with lots of awesome people and stupid amounts of money. It's for Mining/Agribusiness. Now trying to get a Tech VC community bootstrapped is going to be interesting, mainly because we seem to be stuck in a: Vcs are an oligopoly -> Nobody wants to go through them -> No new companies are formed -> No new VCs start here -> .... Cycle. The influx of a whole new environment to nurture startups recently seems interesting. Things like Fishburners, Silicon Beach, etc. Are doing good things incubating new startups adn getting them networked, but it stands to time if this recent upswing will get us out of the cycle.
- brc 15y agoHa don't we all wish to be able to raise capital and get ideas going as much as a geologist with a promising patch of dirt. Like I said - I think one big breakthrough startup would change everything. It would bring it to the attention of investors, employees, press, everyone.
- asharp 15y agoI agree. It would be nice to see one or two more innovative startups around the place though.