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At a time when there is such intense focus on Australia's productivity, it seems counter-intuitive to cut back a program which aids the development of the very businesses and technology that will help boost our productivity in the long term. With a slowing resources sector Australia needs to foster innovation now or risk losing the economic prosperity it has become accustomed to. Australia is already a long way behind other developed nations in terms of support for start-ups and this cut-back only puts us further behind. It's disappointing as it comes at a time when the startup culture is gaining serious momentum around the country.