Does Aus govt venture capital throw money at the wrong problem? | ZDNet
Summary
Barouch argues that the Federal government shouldnt be trying to fund winners, even if it is via VCs that have more experience picking good bets, but to concentrate on encouraging private investors to help out startups earlier. Pollenizer, an online venture builder that helps grow startups in Australia and the South East Asia regions, has a similar line of thought. Its CEO, Phil Morle, told ZDNet that theres a gap in the startup lifecycle where entrepreneurs are left exposed in the lead up to when they are actually in a state to apply for venture capital. Morle is referring to the Gillard governments Plan for Australian Jobs (PDF) announcement on the weekend, which promises new venture capital tax arrangements. "We will assess any detailed proposal and the bills presented to the Parliament, but at the moment, the funding basis for the Prime Ministers package is unclear and creating confusion.
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