Here’s why the Australian startup ecosystem is one to watch in 2016

Disclosure: The author is the Digital Media Strategist at Expert360. 

Photo credit: Frances Gunn

The startup culture in Australia is in a time of revolutionary change.

The national shift from a resource culture to a country relying on technology and innovation was made official with the announcement of the Turnbull government’s innovation policies in late 2015. The Turnbull government recently followed through on some of their tax incentive plans for Australian startup investors.

This statement made three key changes to policy in Australia. These include:

• 10 percent tax rebates for venture capital investments to expand existing Australian startups, which has been followed through with.
• Offshore landing pads in Silicon Valley and Tel Aviv.
• A $200 million fund for the CSIRO aimed at enabling Australia’s leading science and research organisation to co-invest in new companies and existing startups.

“Throughout the course of 2016, we’re very excited to see Turnbull’s innovation and science agenda rolled out, which will deliver a comprehensive approach to the Australian innovation ecosystem in its entirety,” said Australian Assistant Minister for Innovation, Wyatt Roy in an article in The Australian.

“2015 was the year startups went mainstream in Australia. 2016 will be the year they steal the spotlight,” said the newly appointed StartupAus CEO, Alex McCauley in the same article.

With these recent changes, Australia is quickly emerging as one of the strongest places in APAC for founding a startup. This movement means that there are a number of Australian startups you need to keep an eye on this year.

5 of the fastest growing and best funded Australian startups so far.

Expert360

The online marketplace for top-tier independent consultants has been one of the fastest growing startups in Australia since it launched in 2013.

With a hugely scalable product and already global penetration, it is easy to see why this company has been able to attract over $3.8m in funding.

A space worth watching