In Australia, venture capital has helped create and grow many innovative firms, including Austral, a leading manufacturer of fast ferries and passenger watercraft, medical device company Cochlear, and internet job-advertising service Seek. However, relative to other countries, it is clear that VC can have a much larger impact on innovation, job creation, and economic growth.
For example, available data shows that from 1999 to 2013, excluding mining and resource exploration companies, there have been 117 VC-backed IPOs on…
