International Business Professional | Customer Service Expert | IT Support Specialist | Project Coordination & Mental Health Advocacy
🌏 Australia is on the rise as a global startup ecosystem—but it has only scratched the surface. Here’s why 👇 🇦🇺 According to the Mind the Bridge Report, Australia boasts 1,501 scaleups and around 60 “scalers” (startups raising $100M+), securing a massive $32.8 billion in funding. That’s 5.6 scaleups per 100,000 people, and 2% of the country’s GDP invested in innovation. 🚀 But there’s room to grow. One powerful way forward? Corporate-startup collaboration. Through tools like Venture Client models and Corporate Venture Capital (CVC), corporations can help startups validate and scale groundbreaking solutions, while also driving their own growth. ACCIONA is fully committed to boosting Australia’s startup ecosystem. A great example? Their I'MNOVATION program ACCIONA I'MNOVATION, which provides local startups with the opportunity to test their solutions in real-world infrastructure projects. 🚧⚡ 💡 Thanks to Alberto Onetti, Giorgio Di Fiore, and Serena Valente for taking the bold steps required to shape the future of innovation in Australia. Also, big kudos to Economia Insubria and Università degli Studi dell'Insubria for their strong and unwavering support. Ready to collaborate? Let's innovate together with Mind the Bridge. 🙌 Stay tuned for more insights and highlights from the just-concluded conference, as I have more intriguing posts for you all! Data source: MTB Report “Tech Scaleup Australia 2024”. #SSUMMIT24 #Australia #OpenInnovation #Innovation #Startups #Australia #CorporateInnovation #VentureCapital #TechStartups #OpenInnovation #Growth #Sustainability
Elvis Nwadike
2mo
This piece gives an insight to the growth tech innovation in Australia. 2% may seem to be a little or insignificant contribution to the country's GDP but there's always room for growth and of course with corporate start up collaborations using the right tools like Venture Client models and Corporate Venture Capital (CVC) as highlighted in the article will drive growth exponentially in no distant time. Also, Support from corporate bodies and the government is key to encouraging tech innovation.
Insightful
Sammy Temola
2mo
Insightful information
Attorney, Arbitrator, Academic & Author; Sectors: Energy | Electricity | Extractives | Environment | Engineering (Construction Law & Contracts)
2moAs a person based in Australia for the cumulative period of 1/2 a decade, I can relate to this information. The business ecosystem here is favourable to MSMEs, including start-ups, due to factors ranging from funding to enabling legislation (including tax cuts/rebates). The Commonwealth and State/Territory Governments are big on job creation as an important stimulant for socio-economic growth, hence their encouragement of big private investment in this space. However, I am a bit wary of big private investment in startups due to the risk of taking over ownership/decision making structures and larger profit share, which these start-ups may have no choice but to indulge. This may affect the viability of the start-up for extended periods before they go independent. I think the government should be the bigger investor in this space and should fortify regulations for private investment in start-ups to minimize this and other associated risks.