Research from the 2019 Global Startup Ecosystem Report identified 4 of the 9 Key components of a high performing startup ecosystem include
- funding,
- knowledge,
- connectedness and
- market reach
There are lots of events, mentors and desire to help add value to startups and ventures.... and yet Australia’s startup ecosystems are sliding down the ranks, according to the Sydney fell six places from 17th to 23rd, while Melbourne fell out of the top 30 altogether.
Why?
- Inability to access angel/VC level funding,
- access to distribution channels and networks, and
- challenges with scaling into different markets
Were identified as issues
So, how can we fix this?
Funding
- How does a business become investor ready?
- How does a business become referrable ?
- How does a business get access to capital, distribution channels and networks?
- Who do the go to - to find the money
Australia needs to grow its Angel investor community -
We are a gambling nation - Melbourne cup for example - and yet we have not yet doing the key to connect “punters to players”
Startup economies such as Silicon Valley, Tel Aviv, New York, China and other ecosystems around the world seems to have nailed this!
On of the biggest risk mitigation tactics for investors is to access a highly diversified portfolio. Invest in 10 - one will nail it....
so there is an opportunity to invest in VC funds - that the “punters” can trust .
Why are there so few of them in Australia?
What a great opportunity!! I believe this opportunity will grow exponentially over the next 10 years.
Can VC be an asset class that can be as prolific as property? I believe the returns can be better for the investors, the economy and the country.
Access to Networks
How can we connect larger business or enterprise clients, suppliers, and partners to startups .
How can we build know like and trust with each other?
Maybe BBG can be a conduit to provides larger companies with access to industry trends and the opportunity to collaborate with the startup communities and founders.
Give people what they want and you will get what you want!
Accessing international marketing
Founders and companies should be global and scalable.
How to access international markets is a key challenge.
Some solutions could include
- Austrade have launch pads , and grants
- Investors have connections
- Networks need to be accessed
- Trade shows
- International VCs
- Network of professionals
- Founders and unicorns that have been there and done that - becoming mentors and investors
- BBG building out an international network of forums
The next decade should provide an outstanding opportunity for Australian founders, the startup community and BBG www.bbg.business
Onwards and upwards
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