{"id":46324,"date":"2023-10-20T15:49:35","date_gmt":"2023-10-20T15:49:35","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/federal-budget-sees-the-innovation-statement-reaffirmed-but-few-new-policies-for-startups-startupsmart\/"},"modified":"2023-10-20T15:49:35","modified_gmt":"2023-10-20T15:49:35","slug":"federal-budget-sees-the-innovation-statement-reaffirmed-but-few-new-policies-for-startups-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/federal-budget-sees-the-innovation-statement-reaffirmed-but-few-new-policies-for-startups-startupsmart\/","title":{"rendered":"Federal budget sees the innovation statement reaffirmed but few new policies for startups – StartupSmart"},"content":{"rendered":"
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The federal government has revealed its 2016-17 budget with the aim of “harnessing the power of innovation and entrepreneurship”, mostly encompassing policies revealed in last year’s $1.1 billion innovation statement.<\/p>\n

The policies include tax incentives for early-stage startup investment, an expansion of the CSIRO’s accelerator program, changes to the employee share scheme and reforms to the equity crowdfunding reforms.<\/p>\n

The few pieces of new information focus mainly on fintech, with a $200,000 commitment to promote Australian fintechs on an international level<\/a> and a reaffirmation of the pledge to create a “regulatory sandbox” to test new ideas from entrepreneurs.<\/p>\n

The enterprise tax cuts are also likely to benefit startups as well as small and medium businesses.<\/a><\/p>\n

In his budget speech, Treasurer Scott Morrison said innovation is at the core of the government’s strategy.<\/p>\n

“Harnessing the power of innovation and entrepreneurship, to create our own ideas boom, lies at the heart of our plan to support jobs and growth in a stronger new economy,” Morrison said.<\/p>\n

“As part of our national innovation and science agenda we are backing co-investment in new spin-offs and startsups created by Australia’s research institutions, through the CSIRO.<\/p>\n

“We are also expanding the CSIRO’s accelerator programme to support public research bodies get up to speed and achieve commercial success.<\/p>\n

“Reforms to employee share schemes and crowd-sourced equity funding will make it easier for start-ups to raise capital and our changes to company tax loss arrangements will make it easier for existing businesses to reinvent themselves.”<\/p>\n

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

The federal government has revealed its 2016-17 budget with the aim of “harnessing the power of innovation and entrepreneurship”, mostly encompassing<\/p>\n","protected":false},"author":2,"featured_media":63043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,6,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/46324"}],"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=46324"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/46324\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/63043"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=46324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=46324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=46324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}