{"id":47675,"date":"2023-10-20T15:54:35","date_gmt":"2023-10-20T15:54:35","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/bluechilli-launches-program-to-help-startups-be-ripe-and-ready-for-innovation-statement-investment-surge-startupsmart\/"},"modified":"2023-10-20T15:54:35","modified_gmt":"2023-10-20T15:54:35","slug":"bluechilli-launches-program-to-help-startups-be-ripe-and-ready-for-innovation-statement-investment-surge-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/bluechilli-launches-program-to-help-startups-be-ripe-and-ready-for-innovation-statement-investment-surge-startupsmart\/","title":{"rendered":"BlueChilli launches program to help startups be \u201cripe and ready\u201d for innovation statement investment surge – StartupSmart"},"content":{"rendered":"
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Startup founders need to brace for a dip in investor interest in the first half of next year in anticipation of the taxation changes in July coming into effect, BlueChilli general manager of corporate innovation Colette Grgic says.<\/p>\n

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BlueChilli has launched a new accelerator program in collaboration with the Chamber of Commerce and Industry Queensland (CCIQ) and Suncorp that Grgic says will help give startups runway for the first half of next year and prepare them for the increased interest as the innovation statement comes into effect.<\/p>\n

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\u201cThey should be graduating right when the changes come into effect,\u201d Grgic tells StartupSmart.<\/i><\/p>\n


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\u201cThey\u2019ll be ripe and ready for that.\u201d<\/p>\n

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Bracing for impact<\/b><\/p>\n

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A number of taxation changes were 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

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A 10% tax offset will also be introduced in the Early Stage Venture Capital Limited Partnerships (ESVCLP).<\/p>\n

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These changes will be introduced in July next year.<\/p>\n

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\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

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\u201cSo this is the perfect timing for this program \u2013 it will give entrepreneurs runway until the changes.\u201d<\/p>\n

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Runway in the meantime<\/b><\/p>\n

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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

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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

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\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

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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

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\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


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\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

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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}]}}