{"id":41843,"date":"2023-10-20T15:16:53","date_gmt":"2023-10-20T15:16:53","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/ourcrowds-jonathan-medved-predicts-startup-boom-for-australia-startupsmart\/"},"modified":"2023-10-20T15:16:53","modified_gmt":"2023-10-20T15:16:53","slug":"ourcrowds-jonathan-medved-predicts-startup-boom-for-australia-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/ourcrowds-jonathan-medved-predicts-startup-boom-for-australia-startupsmart\/","title":{"rendered":"OurCrowd\u2019s Jonathan Medved predicts startup boom for Australia – StartupSmart"},"content":{"rendered":"
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Australia is set to experience a \u201cstartup boom\u201d and has the potential to take a place alongside the world-leaders, the CEO of the world\u2019s largest equity crowdfunding site says.<\/p>\n

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Israel-based OurCrowd CEO Jonathan Medved is a strong supporter and \u201cconfidant\u201d to Prime Minister Malcolm Turnbull, and tells StartupSmart<\/i> he thinks Australia has the talent and leadership to take on the world.<\/p>\n

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\u201cAustralia is in the process of embracing innovation in a big way, and this is great news,\u201d Medved says.<\/p>\n

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\u201cYour entrepreneurs are spectacular. The ones I\u2019ve met are world class and there\u2019s a lot of money here that can flow into this.\u201d<\/p>\n

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Although Australia is currently far behind the biggest startup hubs in the world, Medved things will accelerate quickly if it\u2019s all done right.<\/p>\n

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\u201cThe ecosystem is several years behind the leaders in Silicon Valley, Israel and elsewhere, but now you\u2019re playing catch-up real fast,\u201d he says.<\/p>\n

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\u201cYou\u2019re going to see this sector grow at a very, very rapid rate \u2013 with VC fund formation, crowdfunding and large capital pools.<\/p>\n

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\u201cI love this place, and in the long-term the trend line is up and to the right. Australia is really going to boom here.\u201d<\/p>\n

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Although Silicon Valley and Israel are well out in front, he says Australia has the potential to come close behind.<\/p>\n

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\u201cI\u2019d welcome Australia into the number three spot soon \u2013 I\u2019d love to be followed by you guys,\u201d Medved says.<\/p>\n

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Government as an enabler<\/b><\/p>\n

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Medved says the Turnbull government needs to adopt a hands-off approach to innovation policies.<\/p>\n

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\u201cThe government cannot pick winners,\u201d he says.<\/p>\n

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\u201cGovernment shouldn\u2019t be the investor in these startups; it should enable the private economy.<\/p>\n

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\u201cThe government isn\u2019t sitting there in Silicon Valley and backing Facebook and Google. If you want to create a Facebook or Google the government has to be an enabler and then get the hell out of the way and let the business community do what it needs to do.<\/p>\n

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\u201cFor them it\u2019s about making sure your infrastructure \u2013 education, regulations and taxes \u2013 is right.<\/p>\n

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\u201cAustralia is very close to being quite right in most of those areas and the work is going on.\u201d<\/p>\n

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Medved says Turnbull is on the right track so far.<\/p>\n

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\u201cTurnbull gets it \u2013 he\u2019s got a business background and he was talking about innovation before it was fashionable,\u201d Medved says.<\/p>\n

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\u201cThese aren\u2019t just buzzwords from a prime minister, this is stuff he deeply believes in and understands.<\/p>\n

 <\/p>\n

\u201cYou\u2019re fortunate enough to have a PM who knows what blockchain is and is tech-savvy. He gets it and that\u2019s a huge advantage for any country trying to expand.<\/p>\n

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\u201cHe\u2019s very committed to turning Australia into an innovation-driven economy and on focusing not just on natural resources but on human capital.\u201d<\/p>\n

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Lessons from Israel<\/b><\/p>\n

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Medved spoke to the recent Australian trade mission to Israel, and says we have a lot to learn from his home country.<\/p>\n

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\u201cWhat Australia can learn from Israel is you don\u2019t have to be a massive country with hundreds of millions of people to build a vibrant startup economy,\u201d he says.<\/p>\n

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\u201cThe innovation economy is now multilateral and international. You don\u2019t build companies on your own anymore \u2013 investment is global, innovation is global. You don\u2019t focus on the Australia market per se, you figure out how to conquer the world.<\/p>\n

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\u201cSometimes people are too often happy building me-too copies for the local market.<\/p>\n

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\u201cThat\u2019s not going to get you really rich. Solving a problem everyone needs solving and going to the world will get you really rich.\u201d<\/p>\n

Do you know more on this story or have a tip of your own? Raising capital or launching a startup? Let us know. Follow StartupSmart on<\/i> Facebook<\/i>,<\/i> Twitter<\/i>, and<\/i> LinkedIn<\/i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Australia is set to experience a \u201cstartup boom\u201d and has the potential to take a place alongside the world-leaders, the<\/p>\n","protected":false},"author":2,"featured_media":60665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,24,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41843"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=41843"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60665"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=41843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=41843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=41843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}