20 May, 2019
Support for high-growth technology businesses remains key to Australia’s economic growth
20 May 2019: StartupAUS, Australia’s peak national advocacy group for startups, today welcomed the return of the Hon Scott Morrison MP as Australian Prime Minister, saying the country could now look forward to a period of political stability which would have flow-on benefits into tech and startup investment and growth.
“Congratulations to Prime Minister Morrison and his team on a strong election result in a hard-fought campaign. We look forward to seeing the final composition of the Cabinet for this term in office in the coming days, and to engaging collaboratively with the new team to expand Australia’s capacity to develop a world class home-grown technology sector,” said StartupAUS CEO, Alex McCauley.
“During the course of the election campaign the Prime Minister made it clear that Australia’s continued economic prosperity was his principal focus. Over the next few years, that will rely more than ever on our ability to create high value global companies. Australia’s tech sector will have a large part to play here, with breakthrough global businesses such as Atlassian, Canva, Wisetech Global, Airwallex, Envato, Deputy, Afterpay, CultureAmp and Aconex all demonstrating that multi-billion dollar Australian technology companies are a new reality” said Mr McCauley.
“There’s still lots of hard work to do to get the settings right to enable more Australian tech companies to become global successes, but we are optimistic about the opportunity now to clearly articulate the important role technology will play in Australia’s future prosperity. The technology companies we create now are going to employ the next generation of Australians.
“This Prime Minister has been an active champion of high growth entrepreneurship. He was Treasurer at the time of the government’s $1.1 billion National Innovation and Science Agenda, and as Treasurer personally supported a range of policy proposals to grow the fintech sector. With a renewed mandate, and a focus on a strong economy, we look forward to his continued support for entrepreneurs. We also look forward to continuing to work with the government to help Australian startups access the best talent in the world, through the Global Talent Scheme.
The Coalition’s policies since 2015 have seen the introduction of generous tax incentives for angel and venture capital investors, a dedicated startup stream of the skilled migrant visa, the introduction of an entrepreneur visa, a global network of startup landing pads, significant funding support for incubators and accelerators, and the establishment of a national space agency. During the election campaign, the Coalition flagged an injection of $60 million over 3 years to the Export Market Development Grant, as well as $3.4 million over four years dedicated to encouraging more women in STEM careers.
“Thanks in part to the strong foundations laid while Scott Morrison was Treasurer, Australia has a promising future as a place where global companies are born. Of course, there’s a lot of work still to be done, so we look forward to sitting down with the new team to get stuck into it,” said Mr McCauley.
Media information: Fleur Brown m: +61 419270863 / e: firstname.lastname@example.org
About StartupAUS: StartupAUS is Australia’s national startup advocacy group, working to support the tech community and accelerate the growth of Australian startups. That means making Australia one of the best places in the world to build and grow a tech startup. StartupAUS focuses on trying to get the big picture right for Australian startups – improving the regulatory environment, building a case for the right sort of Government support for a fast-growing sector, and increasing public awareness of the impact of tech startups across the country. StartupAUS is a non-profit organisation registered with the ACNC.