Australia’s startup ecosystem has outgrown the venture capital tax breaks on offer to boost early-stage tech investment, and are now acting as a handbrake as companies level up.
That’s according to the Tech Council of Australia, which has flagged the need to re-energise the federal government’s Early Stage Venture Capital Limited Partnership (ESVCLP) program.
In its submission to a discussion paper prompted by a decline in sharemarket listing and the growth of private markets, the peak body said the regime “no longer matches the scale or maturity of today’s market”.
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