{"id":44605,"date":"2023-10-20T15:37:09","date_gmt":"2023-10-20T15:37:09","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/some-longer-term-policy-ideas-after-jump-starting-startup-nation-startupsmart\/"},"modified":"2023-10-20T15:37:09","modified_gmt":"2023-10-20T15:37:09","slug":"some-longer-term-policy-ideas-after-jump-starting-startup-nation-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/some-longer-term-policy-ideas-after-jump-starting-startup-nation-startupsmart\/","title":{"rendered":"Some longer term policy ideas after jump-starting startup nation – StartupSmart"},"content":{"rendered":"
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StartupAUS, the peak body representing the Australian startup community, handed over its first three policy recommendations<\/a> to the Australian government this week, but founders and investors also have many ideas for longer-term changes.<\/p>\n

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The initial suggestions were focused on short-term, quick changes that could be made with the aim of getting the ball rolling.<\/p>\n

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They included income and capital gains tax incentives for early-stage startup investments, the doubling of R&D tax concessions and a director liability exemption.<\/p>\n

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Aussie founders and investors have welcomed these suggested reforms, but say the government has a lot more work to do in this area, with education, regulation and incentives put forward as key concerns in the longer term.<\/p>\n

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<\/b><\/p>\n

Nurturing Australian talent<\/b><\/span><\/p>\n

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Angel investor Renata Cooper says innovation education must be a central focus of the federal government.<\/p>\n

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\u201cThe government should be considering education of children for entrepreneurship as a viable career opportunity from a young age,\u201d Cooper says.<\/p>\n

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\u201cOnly then will we get the best talent working here and more important, staying back in Australia instead of moving overseas.<\/p>\n

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Sendle CEO and founder James Moody says that while innovation policy is always tricky, it should be focused on lessening the risks and allowing entrepreneurs to flourish independently.<\/p>\n

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\u201cThe losers are local and a lot of the time the winners don\u2019t even exist. That makes it very hard to build the future,\u201d Moody says.<\/p>\n

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\u201cIt\u2019s great we have a government that\u2019s listening to the startup world, and hopefully buried in there somewhere is going to be the next Uber or Airbnb, the next big company of the future.<\/p>\n

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\u201cWe need to make sure they have the best shot to take on the world.\u201d<\/p>\n

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Incentivising entrepreneurs<\/b><\/span><\/p>\n

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Although a lot of incentives have been put forward for investors, angel investor Dean McEvoy says it\u2019s also important that entrepreneurs are encouraged to create and grow a startup.<\/p>\n

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\u201cIt\u2019s all well and good to incentivise the angel investors, but we need to convince more people to actually start a business,\u201d McEvoy says.<\/p>\n

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\u201cThere are no real incentives for entrepreneurs \u2013 they\u2019re the people that have put the most work in and they don\u2019t get incentivised at a tax level or any other level.\u201d<\/p>\n

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Looking overseas<\/b><\/span><\/p>\n

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Founder of Job Capital and Inspiring Rare Birds Jo Burston adds that Australia should be taking its cues from international successes.<\/p>\n

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\u201cWe have a lot to learn from the UK and New Zealand,\u201d Burston says. \u201cThe appetite for risk is lower here and that\u2019s stopping us from progressing.\u201d<\/p>\n

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\u201cWe need to look globally at how other countries are supporting the ecosystem and take gold-star practices back to Australia really quickly.<\/p>\n

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\u201cWe\u2019re so far behind and we need to look at what is already working overseas.\u201d<\/p>\n

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Despite the challenges and barriers, Burston says she is encouraged by the actions of the government so far and the policies put forward by StartupAUS.<\/p>\n

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\u201cI\u2019m really optimistic,\u201d she says. \u201cThe first 90 days of a prime ministership is all about listening. I\u2019m looking forward to what actually occurs in the first half of next year \u2013 that\u2019ll be when we see lots of activities in this area.\u201d<\/p>\n

\u201cI\u2019m excited to have a prime minister and ministry that are listening.\u201d<\/p>\n

 <\/p>\n

Want to grow your business<\/i> with Instagram?<\/i><\/a> StartupSmart School can help.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

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