Less than $5 per capita is invested in startups, compared to the US and Israel which invest more than $100 a head, stats from Australia’s private equity and venture capital association AVCAL reveal.
“That difference tells us we have a lot of catching up to do – and not much time to do it,” AVCAL CEO Yasser El-Ansary said.
According to AVCAL, private equity and venture capital are invested in just over 500 local businesses. It estimates the number of Australian businesses requiring private capital to unlock growth and expansion opportunities exceeds 30,000.
“In Australia we currently invest less than $5 per capita in early stage business. That compares with countries like the United States and Israel which already invest well over $100 per capita in their high growth potential businesses.”