You gotta flearn before you flourish

Perth is well behind world-leading cities when it comes to supporting tech start-ups.


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There are a few attitude hurdles to get over. Eg: Venture capitalists - We don't deal with equity applications of less than $20m. Banks - We lend money for expansion, not for startups. Brokers - Give us majority shareholding and trust us to see what we can do to raise some funds for the business. Advisers - Your comment on "choosing between the best businesses" when it's far more important to structure a new business appropriately for all the sakeholders. Entreprenneurs - There are few success stories to give business starters faith in the money men.

(I agree) Charlie but at least I've had a few wins in the Melbourne Cup! Actually thinking through the analogy entrepreneurs are more like race horse owners rather than punters. Punters get it easy - they know when the race is over, whether they have won or lost and any losses are fixed at this point. For owners however, like entrepreneurs you never know when the race has finished. There are endless dilemmas of what to do next and how much more to put in!

Charlie, I'm really encouraged by the momentum in the tech sector - the number of and significantly improved quality of startups in comparison to even just a few years ago is significant. There is a real momentum about the Perth tech scene which reflects the interest and momentum in tech around the world. It is less capital intensive to meet and service large markets - provided you have the right proposition. I'm convinced capital will come, as capital seeks better returns. I also believe that large companies will turn to co-invest partnerships / own incubators to harness innovation that a corporate environment cannot foster. The tech startup sector is working hard to reduce risk and continue innovating. These things will meet. Your work in letting the market know about what is going on is greatly appreciated.... @justinkdavies

thanks Justin - you too! There are so many people around with some great ideas, and also I bump into people who say they can easily write some $50k cheques... just need to get more of these startups funded and off they go. Most will fail, but some will win, and then help fund some more...

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7th↓Plus Eight$400k
10th-Business Station$400k
78 startup or sme organisations, places and programs ranked by $ value of funding provided this year (number)

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