Today the Senate has passed a new tax incentives for early stage investors and a scheme to improve access to capital for VCs. These two initiatives are designed to make investment for Australian startups more attractive and were measures first announced in December last year as part of the Government’s National Innovation and Science Agenda (NISA).
Treasurer Scott Morrison has today announced a package of policy changes to promote commercial risk-taking and, in turn, boost Australia’s fintech sector, with the creation of a regulatory sandbox for fintech startups to deliver services without spending capital on licensing, the refining of crowdfunding regulations, and creating open access to financial data among the initiatives announced.
Although there were varying opinions on the open-sourced legal document templates created by Australian VCs, most lawyers agreed that the terms presented in the templates are more appealing to investors than startup founders, and that startup founders should seek legal advice and negotiate important amendments.
If you win us over with your written elevator pitch, you will be given the opportunity to get your business in front of some of the most influential Venture Capitalists in the world. Two winners will be connected via Skype to VC’s from Union Square Ventures and First Round Capital to pitch their business, followed by immediate feedback.