announced in the $1 billion innovation statement<\/a> in an effort to unlock capital. Venture capitalists will be exempt from capital gains tax for 10 years and receive a 20% non-refundable tax offset capped at $200,000.<\/p>\n <\/p>\n
A 10% tax offset will also be introduced in the Early Stage Venture Capital Limited Partnerships (ESVCLP).<\/p>\n
<\/p>\n
These changes will be introduced in July next year.<\/p>\n
<\/p>\n
\u201cI\u2019m worried we\u2019ll see a little bit of a dwindling from now with angels investing in startups, and there\u2019ll be a bit of a dip with investors before that,\u201d Grgic says.<\/p>\n
<\/p>\n
\u201cSo this is the perfect timing for this program \u2013 it will give entrepreneurs runway until the changes.\u201d<\/p>\n
<\/p>\n
Runway in the meantime<\/b><\/p>\n
<\/p>\n
To apply for the program, startups will have to solve 10 SME problems posed by CCIQ. The best 100 responses will receive a free online accelerator program usually valued at $2000 and the top 50 will get free desk space in Brisbane.<\/p>\n
<\/p>\n
The top 20 will be selected for a two-week accelerator bootcamp where 10 of the startups will be picked to receive an investment of up to $100,000 from CCIQ and Suncorp.<\/p>\n
<\/p>\n
\u201cThat\u2019s enough money so they can go and build a prototype, get a little traction and not run out of money and stall before the changes,\u201d Grgic says.<\/p>\n
<\/p>\n
It\u2019s an ideal program for very early-stage programs looking to take advantage of the taxation changes, BlueChilli evangelist Alan Jones says.<\/p>\n
<\/p>\n
\u201cYou should be ideally placed to raise investment from seed investors hoping to qualify for the income tax and capital gains tax deductions on early-stage startups,\u201d Jones tells StartupSmart.<\/i><\/p>\n
<\/i><\/p>\n
<\/i><\/p>\n
\u201cYou\u2019ll be at the right valuation, the right age, you\u2019ll have the endorsement of having completed the accelerator program and you may have CCIQ and Suncorp as your lead investors.\u201d<\/p>\n
<\/p>\n
<\/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":"
Startup founders need to brace for a dip in investor interest in the first half of next year in anticipation<\/p>\n","protected":false},"author":1,"featured_media":58403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47675"}],"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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=47675"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58403"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=47675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=47675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=47675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}