The National Commission of Audit report’s contention that government support of startups provides no real benefit to the community is flat-out wrong, according to a number of startup industry figures and two major reports into the industry, in an article in StartupSmart ezine.
Rui Rodrigues, investment manager of Tank Stream Ventures, says the commission’s suggestion is ridiculous.
It’s an opinion echoed by Sydney Angels management committee member Richard Dale.
Last month peak not-for-profit StartupAUS released its report Crossroads: An action plan to develop a vibrant tech startup ecosystem in Australia which highlighted that startups play a big role in job creation – three million new jobs are added to the US economy each year by new firms, while existing firms lose a total of a million jobs per year.
The article also pointed to last year's Last year, The Startup Economy, a report commissioned by Google and carried out by PricewaterhouseCoopers, found high-growth tech companies have the potential to contribute 4% of the Australia’s GDP by 2033 while adding 540,000 new jobs.
Read the full article in StartupSmart ezine.