{"id":42276,"date":"2023-10-20T15:20:02","date_gmt":"2023-10-20T15:20:02","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/nsw-budget-a-big-missed-opportunity-for-startups-startupsmart\/"},"modified":"2023-10-20T15:20:02","modified_gmt":"2023-10-20T15:20:02","slug":"nsw-budget-a-big-missed-opportunity-for-startups-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/nsw-budget-a-big-missed-opportunity-for-startups-startupsmart\/","title":{"rendered":"NSW budget a “big missed opportunity” for startups – StartupSmart"},"content":{"rendered":"
\"Budget<\/div>\n

Startups were “missing in action” in the recent New South Wales state budget, with little attention paid to the innovation sector, Techfugees co-founder Nicole Williamson says.<\/p>\n

In its 2016-17 budget, the state government allocated $13.7 billion to education, of which $14 million will go to STEM learning and $25 million to innovation.<\/p>\n

But apart from that there was very little to support the local entrepreneurs, Williamson says.<\/p>\n

\u201cTech startups appear to be missing in action from the budget,\u201d Williamson tells StartupSmart.<\/em><\/p>\n

\u201cBoth Victoria and Queensland have paid focused and aggressive attention to tech startups and it shows, there\u2019s a real excitement in Melbourne right now, with so many announcements both in growing the local industry and in attracting high profile international startups.\u201d<\/p>\n

Announced in the budget, the NSW government will be teaming up with TAFE NSW and local universities to launch the Sydney School of Entrepreneurship (SSE).<\/p>\n

The government will spend $25 million on this centre to nurture startup development and encourage new venture ideas.<\/p>\n

But innovation expert and Techfugees co-founder Anne-Marie Elias is skeptical.<\/p>\n

“According to NSW Treasury papers, the SSE will take 1000 top students from partner universities and TAFE NSW each year,” Elias says.<\/span><\/p>\n

“Really? Some of the best entrepreneurs I\u2019ve met were never the \u2018top\u2019 students and definitely prefer short sharp courses like those offered by AcadmyXi<\/span> and Startup Weekend than courses at TAFE or uni.”<\/span><\/p>\n

She says the government should instead focus on funding startup founders directly, with the Queensland government focusing on co-investment.<\/p>\n

“The idea that you can institutionalise the creation of entrepreneurs is not in alignment with what I see out there in the ecosystem,” Elias says. <\/span><\/p>\n

“Nor is it consistent with the 2015 StartupMuster<\/span> survey which found only 9.8% came into startup from school or uni.” <\/span><\/p>\n

Williamson says that Sydney could be in the world\u2019s top 10 tech startup hubs with the right support from state government.<\/p>\n

\u201cWe definitely need to give one NSW minister complete responsibility for the portfolio \u2013 at the moment it\u2019s spread across several ministers,\u201d she says.<\/p>\n

\u201cAnd we need to get the government focused on increasing the density of startups around a particular location.\u201d<\/p>\n

Follow StartupSmart on<\/em> Facebook,<\/em> Twitter and <\/em>LinkedIn<\/em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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